One of my absolute favorite book. Finally someone has taken the focus from the usual social ills in AFrica and has shined light on the booming Economic opportunities in AFrica.
A valiant attempt to identify the opportunities in Africa’s huge and diverse consumer markets, Vijay Mahajan’s Africa Rising: How 900 million African consumers offer more than you think, is a revealing primer for businesses hoping to gain a foothold on the continent.
Part travelogue, part textbook, part who’s who of global businesses operating on the continent, Africa Rising is at its strongest when exploring the relationship between the formal and informal sectors of the economy, providing an insight into the relationships between individuals and brands in markets complicated by political, economic and social factors that are alien to western marketers. The constant thread throughout the text – that the greatest opportunities in Africa could be in organising markets that remain fragmented and choosing brands that demonstrate cultural resonance – mirrors the prevailing thinking in the investment community and, crucially, presents it in an accessible format for a wider audience.
"Africa has some of the poorest nations in the world, but it is wealthier across the continent than India," Mahajan says.
If Africa were a single country, it would have had $978 billion in total gross nation income in 2006. This places it ahead of Brazil, Russia and India—and 12 countries in Africa are wealthier than China in per capita income, he says.
The African diaspora and the informal economy also enrich the continent in many ways that aren't recognized, Mahajan says. The total dispersed African population around the world is estimated at about 100 million people. Unlike past generations that might have left the continent altogether and never looked back, today's diaspora remains engaged. They are instrumental in the African economy, sending money home to families, making investments and contributing to charitable causes.