The Mandela Washington fellows placed at the University of Texas in Austin were pleased to welcome Dr. Vijay Mahajan to class. They received a wonderful lecture on growth and opportunity in Africa. It was insightful and inspiring.
Dr. Vijay Mahajan holds the John P. Harbin Centennial Chair in Business at Mccombs School of Business, University of Texas at Austin.
He wrote “Africa Rising: How 900 Million African Consumers Offer More Than You Think” (Wharton School Publishing) after a journey across Africa (including our beloved country, Senegal) over a period of three years.
He shared with the fellows his powerful vision about the Africa rising, after being swayed by the constant wave of negativity about Africa in the mainstream media.
His speech was not about politics, but about very positive spirit of the entrepreneurs who are trying to make a difference in this consumer market. According to Dr. Mahajan, “Africa has some of the poorest nations in the world, but it is wealthier across the continent than India".
During his presentation, Dr. Mahajan broke down the African market into three segments–Africa One, the small minority of people with incomes similar to top-earners in the West; Africa Two, the vast middle class; and Africa Three, the underclass whose members are striving to reach Africa Two. However, he asked the fellows to focus mostly on Africa Two, arguing that the sheer size of this market means it will be the driver of consumer spending in the future.
"The large informal economy running throughout the continent might act as a buffer." said Dr. Mahajan.
He invited the fellows to also recognize also the important role of the African diaspora and the informal economy because they are enriching the continent in many different ways.
All fellows are grateful to Dr. Mahajan. Indeed, he has been a wonderful supporter of the Mandela Washington Fellowship since its inception, besides that, he has generously offered to sponsor the Closing Luncheon & Certificate Presentation at the County Line BBQ at the end of the Institute!
No comments:
Post a Comment