Understanding Social Entrepreneurship in the African Context

Abstract

Social enterprises are organizations created with the aim of applying entrepreneurial skills and innovations to solving social problems. They are managed by individuals who combine pragmatic and result-oriented methods of a business entrepreneur with the goals of a social reformer. Such enterprises combine resources in innovative ways to create social value in and for the society. However, social enterprises may face challenges that impact their ability to accomplish social goals. For instance, when confronted with the harsh realities of economic recession, teaming poor population, and the need to profit for social intervention, social enterprises existing in hostile economic environment in developing countries may face possibilities of shutdown. This chapter examines the concept of social entrepreneurship in a subsisting economy in Africa. Specifically, it draws from relevant primary and secondary data to explore the nature of social entrepreneurship in the Nigeria context and the potential role that social entrepreneurship can play in addressing social problems.