9780132339421

Africa Rising : How 900 Million African Consumers Offer More Than You Think

by
  • ISBN13:

    9780132339421

  • ISBN10:

    0132339420

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 8/29/2008
  • Publisher: Pearson Prentice Hall

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Summary

"With more than 900 million consumers, the continent of Africa is one of the world's fastest growing markets. In Africa Rising, renowned global business consultant Vijay Mahajan reveals this remarkable marketplace as a continent with massive needs and surprising buying power." "Crossing thousands of miles across the continent, he shares the lessons that Africa's businesses have learned about succeeding on the continent ... shows how global companies are succeeding despite Africa's unique political, economic, and resource challenges ... introduces local entrepreneurs and foreign investors who are building a remarkable spectrum of profitable and sustainable business opportunities even in the most challenging locations ... reveals how India and China are staking out huge positions throughout Africa ... and shows the power of the diaspora in driving investment and development."--BOOK JACKET.

Author Biography

Vijay Mahajan, former dean of the Indian School of Business, holds the John P. Harbin Centennial Chair in Business at McCombs School of Business, University of Texas at Austin. He has consulted with Fortune 500 companies and received several lifetime achievement awards including the American Marketing Association (AMA) Charles Coolidge Parlin Award for visionary leadership in scientific marketing and the Distinguished Alumnus Award from the Indian Institute of Technology (Kanpur). The AMA has also instituted the Vijay Mahajan Award for career contributions to marketing strategy. Mahajan’s ten books include The 86 Percent Solution (Wharton School Publishing), which received the 2007 Book of the Year Award from the American Marketing Association.

Table of Contents

Prefacep. x
The African Opportunity
Baking Bread in Zimbabwep. 3
African Wealth: The Tenth Largest Economy in the Worldp. 7
A Different Type of Oil and Diamondsp. 8
An Irish Beer Finds Its Future in Africap. 10
An Inflection Pointp. 11
Looking East: The New Gold Rushp. 15
Entrepreneurship Is Alive and Well in Africap. 17
Trade Not Aidp. 19
The Need for Leadershipp. 21
Africa's Rise: Hidden in Plain Sightp. 23
Inexplicable Optimismp. 25
Rising Opportunitiesp. 28
Africa Is Richer Than You Thinkp. 29
Meeting the Objectionsp. 31
The Magnifiersp. 37
Accelerants: Cell Phones and Bankingp. 45
Does Africa Exist?p. 49
Diversity and Tolerancep. 52
Beyond the Numbersp. 55
Rising Opportunitiesp. 56
The Power of Africa Twop. 57
Meet Africa Twop. 58
The Sweet Spot of the African Marketp. 60
Opportunities in Africa Twop. 62
Opportunities at Every Levelp. 66
A Continent of Aspirations: Keep Walkingp. 71
Conclusion: An Open Doorp. 73
Rising Opportunitiesp. 74
Realizing the Opportunity
Harnessing the Hanouti: Opportunities in Organizing the Marketp. 77
Organizing the Marketp. 78
Organizing Retail: Shopping in Alexandrap. 79
Opportunities from Making the Informal Formalp. 83
Tokunbo: Organizing Secondhandp. 85
Organizing Distributionp. 88
Organizing Medicinep. 95
Organizing Transportationp. 97
Organizing Brands and Marketingp. 98
Creating Brands from Commoditiesp. 100
Organizing Education and Trainingp. 101
The Power of Organizing Marketsp. 102
Rising Opportunitiesp. 103
Building Mama Habiba an Ice Factory: Opportunities in Infrastructurep. 105
Providing Power and Icep. 105
Water Pumpsp. 109
Sanitation, Water, and Airp. 110
Airlinesp. 112
Opportunities for Leapfroggingp. 114
Leading in Infrastructurep. 122
Transforming Infrastructure: The Muthaiga Golf Clubp. 124
Rising Opportunitiesp. 126
Running with the Cheetah Generation: Opportunities in Africa's Youth Marketp. 127
A Youth Marketp. 128
Cheetahs and Hipposp. 130
Speaking Sheng: Connecting with Youthp. 130
Music: The Universal Languagep. 131
Speaking the Language of Sportsp. 133
Understanding Youthp. 134
Opportunities in the Cradle of Civilizationp. 134
Opportunities in Educationp. 139
Fountain of Youthp. 142
Rising Opportunitiesp. 145
Hello to Nollywood: Opportunities in Media and Entertainmentp. 147
The Accidental Nigerian Film Industryp. 148
Theaters That Don't Look Like Theatersp. 151
Television and Radio: Beyond Two Channelsp. 153
The Small Screenp. 155
Print and Onlinep. 157
The Walls Can Talkp. 159
Third Eyep. 159
Chopped Dollars and Other Surprises of African Technology and Mediap. 160
Pirates of Jo'burgp. 162
From Michael Power to Media Powerp. 163
Our Stories Are Your Storiesp. 164
Rising Opportunitiesp. 165
Coming Home: Opportunities in the African Diasporap. 167
The Growing African Diasporap. 169
From Nigeria, With Love: An Engine for Investmentp. 171
ATMs, Letters, Groceries, and Cell Phone Minutesp. 173
Investments and Charityp. 175
Coming Home: Tourismp. 177
Serving the Diaspora Abroadp. 180
Door of Return: The Complex Diasporap. 182
Strengthening Connectionsp. 184
Rising Opportunitiesp. 186
Conclusion: Ubuntu Marketp. 187
The Power of Ubuntup. 189
Building Community through Corporate Social Responsibilityp. 190
Trade Not Aid: Beyond a Continent of Victimsp. 201
Rebranding Africap. 206
A Call to Actionp. 208
Bridging the Dividep. 216
Reinventing Africap. 218
Rising Opportunitiesp. 220
Endnotesp. 221
Acknowledgmentsp. 239
Indexp. 247
Table of Contents provided by Ingram. All Rights Reserved.

Excerpts

Preface Preface: Consumer SafariI have to admit that until a few years ago, I was guilty of overlooking Africa. My book on emerging markets, The 86% Solution, included only a few African examples. As a professor of marketing at the University of Texas, I have extensive experience working with companies in Latin America. I have traveled and lectured extensively in Asia and the Middle East. Like most scholars in the developed world, however, I saw Africa more as a charity case than a market opportunity. I was wrong, and this book is here to set the record straight.It is particularly surprising to me that I failed to recognize the story in Africa because I remember when India was discussed in the same way. As Ramachandra Guha recently wrote in a book review in the Financial Times, "Western writers of the 1960s warned their readers that India was a losing proposition, the laboratory, as it were, of failed experiments in democracy and nation-building." 1 He could be writing about Africa today. In fact, one of the reasons I started writing about opportunities in emerging markets was because of a conversation I had with a colleague for a panel considering how we could stop the developing world from "begging." As the son of an entrepreneur, I found this shocking and insulting. I knew that entrepreneurship is alive and well in India. But when I told colleagues a decade or two ago that India would be an important global market, they were incredulous. They are incredulous no longer.I have experienced the transformations in India firsthand. I was born in Jammu City in the state of Jammu and Kashmir a few months after Mahatma Gandhi was assassinated and India became a republic. I became part of a generation that Salman Rushdie called "Midnight's Children," referring to those who lived through the transformational time after the independence of India at midnight on August 15, 1947. In 2002, I had the opportunity to return to India as dean of the Indian School of Business in Hyderabad. I saw how a country that had been written off as a charity case was now seen as a powerful emerging market.Now I see the same view of Africa. Despite all the attention it has received for its social, medical, humanitarian, and political challenges, it is still undervalued as a consumer market. I set out to rectify my own lack of knowledge about the continent and to understand the market opportunity it presentsin all its rich complexity and wealth. I traveled thousands of miles across Africa and met with or interviewed leaders of major African companies, smaller entrepreneurs, and Asian and Western firms with long experience on the continent. I have had the opportunity to meet some truly extraordinary and creative business leaders. I feel blessed for the opportunity to do this in the autumn of my life. I learned important lessons from these many teachers, which I share in this book.As I was finishing this book, President George Bush announced in February 2008 the launch of five funds through the U.S. Overseas Private Investment Corporation, totaling $875 million, for investment in Africa. On the eve of his trip to Benin, Tanzania, Rwanda, Ghana, and Liberia, he stated a conclusion that I had reached in my own journeys through Africa in the preceding years. "This new era is rooted in a powerful truth: Africa's most valuable resource is not its oil, it's not its diamonds, it is the

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