The term “millionaire” is taking on a new meaning in Africa.
It’s no longer just about the size of your bank account; any shady politician, corrupt bureaucrat, or unscrupulous businessman on the continent can easily claim to be a millionaire.
But Africa’s new and emerging generation of millionaires are not just excited about money. They’re also passionate about impact; they want to create value that touches and improves people’s lives.
It’s called impact entrepreneurship. It’s the new way of making money and doing good, at the same time.
It’s a model that is proving that profit and ambition do not always have to come at another’s expense.
Remember, the bulk of Africa’s “old school” millionaires made their money from resource extraction and sheer opportunism. Often, their wealth had to come at the expense of the common good and the natural environment.
But Africa’s new wave of entrepreneurs are showing no keen interest in the continent’s finite resources; its timber, gold, copp..