The African Foundation for Entrepreneurship and Economic Development starts operating in the Seychelles

BY ALAN GREEN

The African Foundation for Entrepreneurship and Economic Development (AFFEED), an organization founded a few years ago by Dr. Samuel Mathey to promote entrepreneurship and the concept of Zero Capital Entrepreneurship, ZCE, is poised to start operating in the Seychelles, thereby extending its presence beyond the dozen African countries where it has so far operated.

Dr. Mathey was granted an audience by the Seychelles’ president, Danny Faure, at the presidential palace on 4 April, along with a delegation of the Ascenion Group from the Democratic Republic of Congo. This cleared the way for AFFEED to start the training program for young entrepreneurs on all the islands that comprise the Seychelles, as it has been doing over the years elsewhere in Africa.

Dr. Mathey and his company briefed President Faure about their activities to promote entrepreneurship. They also congratulated the president on his efforts to promote entrepreneurship in general, and entrepreneurship among the youth and women’s empowerment in particular.

Dr. Mathey used the occasion to elaborate on the concept of Zero Capital Entrepreneurship, a strategy for the youth to set up multinationals with zero outside capital. President Faure appreciated the concept and welcomed the opportunity for the youth in his country to take advantage of it. Thus, FAFFEED will soon become operational across the country.

The conversation also touched on the organization of the Victoria Forum, an annual women’s gathering in the Seychelles. President Faure stated that the proposal will strengthen ongoing efforts to shore up gender equality and women’s leadership in a way that will foster women’s participation in every sector. (The second edition of the Victoria Forum was held in the Savoy Resort from 29 March to 1 April 2019.)

Clearly, like a caravan pushing on mile after mile, Dr. Samuel Mathey’s Zero Capital Entrepreneurship theory keeps making inroads as an alternative to the youth unemployment crisis in Africa. To date, AFFEED has trained thousands of youths across the continent, including more than 16,000 youths in Cote d’Ivoire alone where Dr. Mathey (fondly called “the intellectual globe trotter” because he teaches in African, European and American universities) is based. According to the organization, 20% of those trained have so far created their own businesses.