Africa Connected

Buckle up, young entrepreneurs are doing it for themselves

Travelling through Mauritius for Africa Connected, acclaimed 702 journalist Nikiwe Bikitsha stops by Car Club Ltd to gain insight into entrepreneurship.

A charted accountant by profession, it’s hard to believe that just a few years ago, Karrim Abbasakoor took the leap and left corporate Mauritius to venture into entrepreneurship. Passionate about cars, his shift from imported trucks and plant machinery to top quality second-hand cars was inevitable. In 2016, the company traded a total of 9000 vehicles and, whilst it has slowed down this year, it is still gaining market share.

However, while there is an abundance of opportunity for young people, it appears that only a few have had the courage to risk their job security to become entrepreneurs.

They might just be a little scared. It’s a shame. There is place in the market for young people.

Karrim Abbasakoor, Managing Director at Car Club Ltd

While entrepreneurs still face challenges some of the common challenges, the Mauritian government and private sector is working harder at supporting to entrepreneurial development.

With a strong banking system structured to support young entrepreneurs, low corporates taxes in the country offers SMEs to dedicate more money to the research and development of new ideas, and offers potential away from a highly saturated job market.

Click here to access the Africa Connected portal or click below to watch Nikiwe's full interview with Karrim Abbasakoor.


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by NEWSROOM AI

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