Speakers discuss how strategic partnerships and intentional network-building deliver impact.
The focus was on Africa, but the speakers on the first day of the 2024 Oxford Africa Business Forum on 8 March, International Women’s Day, delivered universal lessons on the importance of diversity and inclusion, networks, and relationships.
The vision for the day, according to co-chair Mariah Greenstreet who delivered the opening address, was ‘Elevate, elevate, elevate: elevate the reach, elevate the insight, and elevate the impact’. Business founders, advisors, senior executives and board directors came together to share their experiences and offer advice to audience members keen to seize opportunities, make an impact and contribute to businesses that are driving and sustaining growth across the continent.
The headline message was that possibilities abound in Africa, despite – or even because of – increasing global uncertainty: a history of turbulence and risk has given people across the continent ‘a head start’ in navigating an unpredictable environment and building resilience. Almost every sector is under-developed, with demand for services and products often outstripping supply: if new enterprises do something well they can become very successful.
All panellists spoke about the importance of people – relationships, networks, and partnerships – to both businesses and personal careers. Women in particular were urged to develop strong networks and focus on helping other women, whether or not they liked them on a personal level. Partnerships are vital to deliver successful and should be thought of in strategic terms, taking you into an area in which you want to develop or grow – ‘otherwise it’s a hobby’.
Underlying all the panel discussions was a recognition that a major barrier to success is a lack of access to capital. A minute percentage of venture capital worldwide goes to Black women, and although there are many examples of entrepreneurs taking creative approaches to raising capital through crowdfunding and appealing directly to their customers, the fact remains that women are disproportionately disadvantaged. On a broader scale, unlocking the ability of capital to move across the continent or being able to attract more external capital would make the most difference in promoting growth and innovation in Africa.
