Background to the Summit
According to Weber (cited in Thomas & Muller, 2000), at society level, differences in entrepreneurial activity can be explained by cultural and faith-based factors. Studies have shown diverse behavioural responses to economic changes. For instance, Dodd and Seaman (1998), studied the relationship between the individual’s belief system and enterprise and point out that, belief system affects an entrepreneurial activity and contact network as well as influence the decision to become an entrepreneur and how the individual manages an enterprise.
Relevance of Summit
Belief Systems Business Transformation in Africa
In Africa, belief systems are dominant, and it is regarded as the most faith-based continent in the world. According to Pew Research Centre study, by 2050 the number of Christians in absolute number is expected to grow to more than double in the next few decades, from 517 million to 1.1 billion in Sub Saharan Africa. Over the next four decades, Christians will remain the largest religious group, but Islam will grow faster than any other major religion if current trends continue, by 2050
Belief Systems constitutes an inextricable part of African society. As such, business and socio-economic activities are often flavoured with belief-based expressions and rituals. Mbiti argues that in the African worldview, to exist is to be religious in a religious universe. In this sense it is unthinkable for an African to live or establish an enterprise without a particular belief system.
Impact of Ethical behaviours Business sustainability
It has been argued that faith-based activities affect entrepreneurship in various ways. It is not only a cultural causal antecedent that has been playing a prominent role in shaping ethical preferences. For example, Emani and Nazari (2012), examined the ethical attitudes between entrepreneurs who described themselves as more faith-based and those who considered themselves as less religious with the possible effects of religious orthodoxy on the ethical attitudes. Their findings indicate that entrepreneurs with high faith-based interest as well as entrepreneurs, who were highly orthodox in their belief system, expressed more sensitive ethical judgments compared to the less religious entrepreneurs.
Objective of the Summit
The main objective of this conference is to “highlight how an entrepreneur’s belief systems could advance the transformative future of legitimate and relevant entrepreneurship development in Africa”.
The intention is to discuss the impact of belief system of entrepreneurs on the continent and find creative and informed ways to deepen the crucial role of belief systems in the development, promotion, and transformation of SMEs towards the socio-economic transformation of the continent.
The conference thus seeks answers to the following five critical questions:
- What is the essential nature and role of African Belief systems in skills development among SME entrepreneurs for business’ development and growth?
- If African societies are very religious but at the same time Start-up and SMEs are not doing well, to what extent does the individual entrepreneur’s belief system contribute to their growth or collapse on the continent?
- If belief systems are crucial to Africans, how could belief systems be harnessed to improve businesses sustainability and reduce business collapse in Africa thereby reducing unemployment and poverty in Africa?
- Examine the concept of wealth creation, technology, innovation and whether belief systems enhance the structural existence of poverty among n African societies.
- Finally, the conference will as well explore new ways of leveraging belief systems as a force for positive social and economic transformation and development in African society.