Just another sign of Africa’s growing potential and financial power, business schools from the United State and Europe, are building campuses and actively seeking-recruiting African students. With low growth in their home markets due to over saturation and fierce competition in Asia, the only growth market is in Africa.
Universitá Cattolica del Sacro Cuore launched MBA program in Nairobi, Kenya in 2011, expanding to Accra, Ghana last year. They will be opening new program in Sierra Leone in the coming few months. U.S. based Webster University recently opened location this March in Accra, Ghana, after investing more than $3 million. “The business opportunity is huge” says president and chief executive officer of Germany’s Frankfurt School of Finance & Management. The school started masters degree in micro finance and MBA program with the Université Protestante au Congo. Duke University opened branch in South Africa in 2007.
China Europe International Business School created program for women entrepreneurs in Ghana in 2012, which it expanded to Nigeria in 2013 and began in Kenya this year. In July, Ivory Coast signed agreement with Paris based HEC to lead programs for hundreds of public and private sector executives.
As Africa grows, especially in the business sector, the need for experienced, qualified middle managers and corporate strategists will increase. These schools are looking to fill a coming growing need.
Morocco is going ahead with its investment in clean energy, wind to be exact. Joint project between Moroccan Nateva Holding and France’s GDF Suez. The country has invested $685 million in the Tarfaya project that began in early 2013 and will be operational starting in October. 88 turbines out of a total planned of 131 have been built, producing up to 300 mega watts at full capacity. The wind farm is part of a plan that aims to have 42% of the country’s energy consumption coming from renewable energy by 2020.
With an ever growing consumer and middle class, people throughout Africa are earning more spending power and love for brand products. Ford seeing the huge market potential, is increasing its investment and presence in Africa. Africa is the last untapped big market for major corporations and Ford has announced 17 new vehicles designed for sub-Saharan Africa. The models, all to be introduced by 2016, draw on Ford’s car heritage and global vehicle architectures deigned for the African consumer in mind.
“Middle East and Africa is the final frontier for global automotive growth,” said Ford’s regional chief Jim Benintende. According to Ford’s projections, car sales are expected to grow by 40% in the coming decade in the region. Ford isn’t the only car manufacturer looking to expand in Africa. PSA Peugeot Citroen, which is French based, reopened closed planet in Nigeria. Chinese brands are also increasing their presence . GM, Toyota, Nissan, and Mercedes-Benz have all over the years paid more attention, increased investment in Africa, after seeing all it’s potential. Ford is making sure that they aren’t left in the slow lane trying to catch up with the competition.
In partnership with French based technology company Alcatel-Lucent, Surfline Communications is developing first high speed 4G data network for Ghana. Over $100 million so far has been invested in building out the network that is currently in the capital and port city of Tema. Plans are to expand throughout the country in coming months and few years. Fast data networks such as these are becoming more crucial especially in e-commerce, investing, business, security and education.