The thesis presents important findings on the opportunities and challenges facing entrepreneurs in emerging countries and in particular in Africa. Among other things, it emphasises the key role of financial technologies in creating more inclusive economic systems, which support business growth and innovation. Board member Professor Dr Svend Reuse presented the prize for the “Best Dissertation of 2024 in the Faculty of Business Administration and Economics”, which is endowed with 3,000 euros.
Africa will play an increasingly important role both geopolitically and demographically in the future. Statistics show that the African continent has developed into an important economic area in recent years: Eleven of the twenty fastest growing economies in 2024 are located here. However, the continent has often been neglected in economic research to date.
Christian Kabengele is now closing this gap. He is primarily examining African markets and researching how entrepreneurs can contribute to solving social problems using innovative technologies – and in particular financial technologies.
Mobile money and similar innovations have the potential to provide access to modern financial systems for millions of people. They can increase the productivity of informal companies and promote the economic participation of women in the corporate sector.
At the same time, institutional framework conditions and corporate strategies play a major role in the success of fintech providers and social enterprises. African investors and business founders often find themselves facing institutional uncertainties and deep-rooted, discriminatory investment patterns – a structural disadvantage. In a study, Kabengele establishes that founders with international experience have better chances of obtaining financing than those lacking such experience. However, his research also shows signs of a positive development toward fairer financing conditions for all founding teams. And that – a further result of his research – paradoxically, weak institutions can create incentives for innovation by encouraging entrepreneurial solutions.
The thesis indicates how institutions can be organised to encourage competition in the private sector, make capital markets more transparent and efficient, fight poverty and strengthen gender equality.
“I am delighted to present this year’s prize to Christian Kabengele,” says Professor Svend Reuse on behalf of the Kreissparkasse Gelsenkirchen. “The thesis clearly shows that it is important to cultivate start-ups and venture capital outside Europe as well. Maybe the next ‘Apple’ will come from Africa. The Kreissparkasse Gelsenkirchen is delighted to honour this outstanding work. After all, Germany remains one of the world’s most important research locations and we have the opportunity to make an important contribution for the next generation.”
Christian Kabengele studied economics at the University of Hohenheim in Stuttgart. He then completed a master’s study programme in International Business & Economics at the same university. In 2019 he moved to the Henkel-Endowed Chair of Sustainability Management at Marien University Hospital & School Gelsenkirchen to undertake a PhD programme and also worked at the Chair as a research associate. He completed his doctorate in 2024 under the supervision of the holder of the chair, Professor Dr Rüdiger Hahn. Since 2022, he has realised various independent research projects for financial services customers and complex data analyses with advanced tools, initially as an Associate in the Financial Services Research area at AlixPartners GmbH. Since January 2024, he has been responsible for the Financial Services Research area in the role of Vice President.