Assessing Africa’s Space Economy: Challenges and Opportunities for Entrepreneurs in the New Space Age

Abstract

Africa's space economy is emerging as a new frontier of growth and innovation, spurred by advancements in technology and a growing interest in the global space sector. While the continent faces numerous challenges, such as inadequate infrastructure, limited access to funding, and regulatory constraints, it also presents vast opportunities for entrepreneurs seeking to leverage space-based technologies. This paper explores the current state of Africa's space economy, identifies the challenges entrepreneurs face, and highlights the opportunities within this evolving sector. By examining case studies and reviewing recent initiatives, the paper offers insights into how Africa can overcome its barriers and become a significant player in the global space economy.