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IEA participates in new study of enterprise-based solutions to African poverty


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The John Templeton Foundation has announced the winners in its What Works in Enterprise-Based Solutions to Poverty grant competition
A $500,000 grant was awarded to the Mercatus Center at George Mason University and its partners, the South Africa-based Free Market Foundation and London’s Institute of Economic Affairs for the group’s recently launched joint initiative Enterprise Africa!

Enterprise Africa! field teams will work with entrepreneurs in some of the poorest countries in the world—Mauritius, Namibia, Rwanda, Kenya, Botswana, and Tanzania—to understand how poverty can be fought on the local level. Successful entrepreneurs in these countries have developed their own workable solutions to problems of healthcare, political corruption, famine and education.

‘The western world’s failure to spur development in Africa demonstrates that poverty is not going to be eliminated by ideas born of western elites at conferences on wealth redistribution’, says project director Brian Hooks, ‘Enterprise Africa! will demonstrate how entrepreneurs are erasing poverty locally and share their successes with other entrepreneurs, governments, and international development groups who clearly need models that work’.

‘The focus of the project will be the entrepreneur because entrepreneurship is the true engine of economic growth’, commented IEA Director General John Blundell, ‘The John Templeton Foundation is providing seed funding for a long-term and sustained effort which aims to have a profound impact on the direction of economic development in Africa and the rest of the world’.

For more information on the project, visit Enterprise Africa! website.