Township entrepreneurship, Unemployment and Economic Development: Myth or Reality in Sub-Saharan African Countries

Abstract

This study aims to perform a comparative analysis of the influence of township entrepreneurship on unemployment and economic development among the Francophone and Anglophone countries in sub-Saharan Africa. The study employed a descriptive and quantitative research design where a longitudinal data was sourced from the World Development Indicators (WDI) and World Bank Entrepreneurship databases on 12 and 9 Francophone and Anglophone countries respectively. A Fixed Effect panel regression model was employed to attain the objectives of the study. The findings of the study revealed that there is a significant negative effect of township entrepreneurship on unemployment; and also, township entrepreneurship has a positive significant effect on economic development. Both relationships were found to have insignificant differences between Anglophone and Francophone countries suggesting that the ability of township entrepreneurship to minimize the rate of unemployment and boost economic development is generic and irrespective of cultural and social differences. This study was anchored on the behavioral theory of social entrepreneurship to provide empirical contribution to existing literature.