ABSTRACT
It is now widely accepted that human capital, not financial capital, will be the key factor driving innovation, competitiveness, and growth in the twenty-first century. Yet, virtually all surveys and studies measuring countries’ ability to maximize and leverage their human capital rank African countries poorly. The reasons are not far-fetched: Africa has historically relied extensively on expatriates for many of its key industries, and low-skill labour in the agricultural sector, the major economic activity in many countries. In this chapter, we argue that Africapitalism has the potential to deal with the very serious human capital challenges facing the region. By promoting a people-centred philosophy, it emphasizes the positive developmental role of businesses in building the human capital of African firms, industries, cities and nations.
