INSEAD Library

Includes bibliographical references and index

Digitized

Africa Rising How 900 Million African Consumers Offer More Than You Think Contents Preface Consumer Safari ............................................................... x Part I The African Opportunity Chapter 1 Baking Bread in Zimbabwe ........................................... 3 African Wealth: The Tenth Largest Economy in the World ................................................................................. 7 A Different Type of Oil and Diamonds................................... 8 An Irish Beer Finds Its Future in Africa...................................10 An Inflection Point...................................................................... 11 Looking East: The New Gold Rush..........................................15 Entrepreneurship Is Alive and Well in Africa..........................17 Trade Not Aid.............................................................................. 19 The Need for Leadership............................................................ 21 Africa's Rise: Hidden in Plain Sight........................................... 23 Inexplicable Optimism................................................................ 25 Rising Opportunities....................................................................28 Chapter 2 Africa Is Richer Than You Think.................................. 29 Meeting the Objections .............................................................. 31 The Magnifiers ............................................................................. 37 Accelerants: Cell Phones and Banking .....................................45 Does Africa Exist? ...................................................................... 49 Diversity and Tolerance.............................................................. 52 Beyond the Numbers...................................................................55 Rising Opportunities....................................................................56 Chapter 3 The Power of Africa Two ............................................... 57 Meet Africa Two.......................................................................... 58 The Sweet Spot of the African Market .................................... 60 Opportunities in Africa Two...................................................... 62 Opportunities at Every Level..................................................... 66 A Continent of Aspirations: Keep Walking............................. 71 Conclusion: An Open Door....................................................... 73 Rising Opportunities....................................................................74 Part II Realizing the Opportunity Chapter 4 Harnessing the Hanouti: Opportunities in Organizing the Market .......................................... 77 Organizing the Market.............................................................. 78 Organizing Retail: Shopping in Alexandra.............................79 Opportunities from Making the Informal Formal ...............83 Tokunbo: Organizing Secondhand......................................... 85 Organizing Distribution............................................................88 Organizing Medicine ................................................................ 95 Organizing Transportation....................................................... 97 Organizing Brands and Marketing.......................................... 98 Creating Brands from Commodities ......................................100 Organizing Education and Training....................................... 101 The Power of Organizing Markets..........................................102 Rising Opportunities................................................................. 103 Chapter 5 Building Mama Habiba an Ice Factory: Opportunities in Infrastructure .............................. 105 Providing Power and Ice ......................................................... 105 Water Pumps.............................................................................. 109 Sanitation, Water, and Air........................................................ 110 Airlines ....................................................................................... 112 Opportunities for Leapfrogging.............................................. 114 Leading in Infrastructure.......................................................... 122 Transforming Infrastructure: The Muthaiga Golf Club.................................................................................... 124 Rising Opportunities................................................................. 126 Chapter 6 Running with the Cheetah Generation: Opportunities in Africa's Youth Market....................... 127 A Youth Market......................................................................... 128 Cheetahs and Hippos................................................................ 130 Speaking Sheng: Connecting with Youth...............................130 Music: The Universal Language ............................................. 131 Speaking the Language of Sports............................................ 133 Understanding Youth................................................................ 134 Opportunities in the Cradle of Civilization........................... 134 Opportunities in Education ................................................... 139 Fountain of Youth.................................................................... 142 Rising Opportunities................................................................ 145 Chapter 7 Hello to Nollywood: Opportunities in Media and Entertainment ..................................... 147 The Accidental Nigerian Film Industry.................................148 Theaters That Don't Look Like Theaters ............................ 151 Television and Radio: Beyond Two Channels..................... 153 The Small Screen ..................................................................... 155 Print and Online....................................................................... 157 The Walls Can Talk.................................................................. 159 Third Eye .................................................................................. 159 Chopped Dollars and Other Surprises of African Technology and Media ............................................. 160 Pirates of Jo'burg ..................................................................... 162 From Michael Power to Media Power ................................. 163 Our Stories Are Your Stories .................................................164 Rising Opportunities................................................................ 165 Chapter 8 Coming Home: Opportunities in the African Diaspora................................................... 167 The Growing African Diaspora ............................................ 169 From Nigeria, With Love: An Engine for Investment ......171 ATMs, Letters, Groceries, and Cell Phone Minutes... ....... 173 Investments and Charity .........................................................175 Coming Home: Tourism......................................................... 177 Serving the Diaspora Abroad................................................. 180 Door of Return: The Complex Diaspora..............................182 Strengthening Connections .................................................... 184 Rising Opportunities................................................................ 186 Conclusion Ubuntu Market ................................................... 187 The Power of Ubuntu.............................................................. 189 Building Community through Corporate Social Responsibility................................................................. 190 Trade Not Aid: Beyond a Continent of Victims..................201 Rebranding Africa.................................................................... 206 A Call to Action....................................................................... 208 Bridging the Divide ................................................................ 216 Reinventing Africa .................................................................. 218 Rising Opportunities............................................................... 220 Endnotes .......................................................................221 Acknowledgments ....................................................... 239 Index ............................................................................. 247