A negative reputation has followed Africa since the bulk of the nations on that continent won independence from colonial occupation. Poverty, disease, hunger, war and corruption are closely associated with African countries in the minds of many people across the world. Such a perception could be on the verge of changing. Economic development opportunities are rising throughout Africa and investment there is poised to be the next big thing.
Archive for the ‘Africa’ Category
Recently, Brazil pledged major investments and a transfer of technology to Africa in order to repay a “solidarity debt” they have with Africa.
According to former Luiz Inacio Lula da Silva, Brazil, which is the world’s sixth-largest economy, “owes its current strength to the more than 300 years of slavery during which we exploited the sweat and blood of millions of Africans.”
Fashion designer Tanya Aab says she feels lucky: Few businesswomen from Swaziland can travel to the United States to learn how to build their companies and sell their brands overseas.
For several days this week, Aab was walking through the Los Angeles garment district as part of a State Department program aimed at helping African countries build their economies and rely less on U.S. foreign aid.
Will Africa Be the Next China?
According to a report by the African Development Bank, the Organization for Economic Cooperation and Development, the United Nations’ Economic Commission for Africa and the UN development agency UNDP, the African economy is expected to grow 4.5 percent this year .
With Broadband, Internet service is not only faster but less expensive allowing more people to jump onboard the Web Express. And now the African nations of Namibia and Botswana have Broadband.
Namibia and Botswana recently linked up to an 8,700 mile-underground cable system that provides faster and cheaper Internet connectivity.
In a highly controversial move, Nigeria has reinstated the Africa’s richest businessman, Aliko Dangote, as the head of the Nigerian Stock Exchange.
Dangote won an appeal to be reinstated as president of the NSE after being ousted two years ago due to allegations of corruption in March 2010. Dangote, whose African cement empire–Dangote Cement–is worth an estimated $11 billion, and was initially elected NSE president in August 2009.
When Strive Masiyiwa, Zimbabwe’s richest businessman, took the stage at Morehouse College to accept the honorary degree conferred upon him by the college, he gave the students a valuable piece of business advice:
n 2011, 50 Cent (Curtis James Jackson III) announced the debut of his new energy drink, SK (Street King). It was developed by the musician and businessman to not only pump up his own bottom line, but also raise money for starving populations in Africa. With the purchase of every energy shot, Street King will provide a meal for a child in need. The goal is to feed 1 billion children over the next five years.
Idris Ayodeji Bello calls himself “Afropreneur.” And the term, coined by the 33-year-old Nigerian entrepreneur, is catching on. Bello is a self-made tech innovator, and, in fact, has founded various tech initiatives with the goal of encouraging entrepreneurship and empowering communities across Africa. He co-founded the Wennovation Hub in Lagos, Nigeria, sort of a technology think tank that encourages entrepreneurs to develop their ideas into businesses.
Cape Verde may be a small African nation, but young entrepreneur Saulo Montrond is making big news there. His Green Studio production company is one of the country’s fastest growing firms.
Green Studio produced graphic design, multimedia production and television marketing and advertising consultancy services. Its clients are some of the major corporations in Cape Verde, as well as the government, including TACV airlines, telecommunication company, CVMóvel, Shell, the Stock Exchange of Cape Verde, the National Police and the Government of Cape Verde, among many others.