Lagos Business School (LBS) has signed a partnership agreement with leading African business schools from four other major countries to share resources, expertise and research to give a much-needed boost to entrepreneurship, job creation and economic development on the continent.
The other four participating business schools are the University of Cape Town Graduate School of Business, South Africa (UCT GSB), University of Stellenbosch Business School, South Africa (USB), Esca Maroc Ecole De Management of Casablanca, Morocco (ESCA) and Strathmore Business School of Nairobi, Kenya (SBS).
The newly formed African Academic Association on Entrepreneurship (AAAE) will promote and develop academic cooperation – particularly in the areas of entrepreneurship, small business development, innovation and start-ups – through research, case study development, academic exchange of students and faculty, as well as academic materials and publications, professional internships and technical cooperation.
“AAAE will play a key role in leading the continent towards stronger linkages among African business schools focusing on teaching and research in the areas of entrepreneurship and family business, as well as further global collaboration”, said Professor Karim Elseghir, dean, School of Business of the American University in Cairo, Egypt (AUC).
The AUC will serve as the coordinator of the collaboration until a structured steering committee has been appointed. According to Elseghir, youth unemployment and education are the most pressing challenges facing the African continent. The most recent International Labour Organisation Global Employment Trends report indicates that paid employment opportunities in Sub-Saharan Africa are scarce and the vulnerable employment rate at 77.4 per cent in 2013 is the highest in the world.