The resilience of businesses has been a persistent challenge, exacerbated by systemic barriers that limit access to capital, resources, and market opportunities.

While funding remains a critical support mechanism, it is not sufficient by itself to address the multifaceted issues faced by these businesses.

A transformative approach is needed, one that leverages cutting-edge technologies and innovative policies to build sustainable business ecosystems.

Artificial Intelligence (AI) and FinTech are rewriting the rules of business. Across the continent, entrepreneurs are using AI tools to predict customer behavior, identify market trends, and make data-driven decisions.

These technologies can revolutionise how businesses operate, compete, and thrive in the digital economy.

But for these tools to reach their full potential, African governments must create enabling environments. This means crafting policies that encourage digital innovation while addressing risks like algorithmic bias in AI lending and cybersecurity threats in FinTech.

The right balance of regulation and innovation can help level the playing field for entrepreneurs who have historically been excluded from formal finance.

Public-Private Partnerships (PPPs) have become a key strategy in promoting business development across a range of sectors, and they offer significant promise in addressing the unique challenges faced by businesses.

These collaborations leverage the expertise, resources, and capabilities of both public and private sectors to create synergies that can drive innovation and foster sustainable economic growth.

In several African countries, such partnerships have led to the creation of business incubators, accelerators, and innovation hubs that give startups access to mentorship, networks, and market opportunities.

Beyond finance, these collaborations foster long-term sustainability by tackling the structural barriers that hold entrepreneurs back.

One model worth studying is Prosper Africa, a U.S. government initiative launched in 2018 to strengthen trade and investment between the United States and African nations.

The program at its core functions as a "one-stop shop", offering matchmaking, deal facilitation, policy advocacy, and access to tools, helping both African and U.S. businesses tap into new opportunities.

It emphasizes private-sector engagement, with a focus on sectors like infrastructure, energy (including clean energy transitions), digital technologies, pharmaceuticals, agriculture, and creative industries.

It also prioritizes economic inclusion, particularly for women entrepreneurs, and supports climate-resilient investments.

With projections of billions in new investments and job creation on both sides of the Atlantic, Prosper Africa offers lessons on how coordinated partnerships can drive real impact.

Government policies and regulations play a critical role in promoting or hindering the growth of businesses. In recent years, African governments have introduced reforms to expand access to credit and promote entrepreneurship.

Yet, traditional tools like tax incentives and procurement set-asides, while helpful, haven’t fully addressed deeper issues of inequality and market access.

Emerging policy innovations are starting to close that gap. Digital literacy programs, reforms in small business lending, and tax credits for technology adoption are helping entrepreneurs modernize their operations.

However, the challenge lies in execution, ensuring that these policies move from paper to practice, and that they actually reach the businesses they are designed to support.

Advocacy will be key. Businesses, associations, and civil society groups must engage policymakers to ensure that regulations remain inclusive, evidence-based, and responsive to evolving challenges in the digital economy.

True business resilience demands more than financial aid, it requires an ecosystem where entrepreneurs can access capital, technology, and supportive policy frameworks.

Governments and private actors alike should prioritize investments in digital infrastructure, ensuring that broadband access, mobile banking, and cloud-based tools are within reach for businesses.

Expanding venture capital and impact investment funds tailored to SMEs can unlock new financing streams, while procurement reforms that require public institutions and large corporations to include smaller firms in their supply chains can open up stable market opportunities.

Technology-driven business hubs can also serve as anchors for mentorship, funding access, and digital skills training, helping entrepreneurs adapt to an increasingly data-driven economy.

Meanwhile, responsible data-sharing between banks, FinTech companies, and regulators can improve credit profiling and make lending more inclusive.

Finally, governments should consider tax incentives for corporations that actively mentor or fund local entrepreneurs, ensuring that private sector participation is not only encouraged but rewarded.

Africa’s path to inclusive growth will depend on how well it combines innovation with collaboration. Financial support is vital, but it must be complemented by smart policy, technology adoption, and partnerships that extend beyond short-term grants.

If governments, investors, and entrepreneurs can work together to strengthen these connections, Africa’s businesses will not only survive the shocks of today but thrive in the digital economies of tomorrow.

By building an ecosystem grounded in equity, innovation, and resilience, the continent can unlock a new era of sustainable growth and ensure that no entrepreneur is left behind.

The author, Maud Avevor, is a management consultant, economist, and researcher with expertise in strategy, financial management, technology-driven innovation, and inclusive economic growth.