Introduction
Rationale for the Howard University African Business Conference
A great many discussions have alluded to the marginalized image of Africa portrayed by the international media as a place of political unrest, civil strife and mass sufferings of its people. While these depictions might be true in a number of cases, there is another side to the African story that is often ignored. Many of such oft ignored stories include the increase in investment activity in African countries by multi-billion dollar private equity funds, the growing capital markets in countries such as Ghana and Nigeria, amongst others, as well as high credit ratings achieved by African banks from international credit monitoring agencies. The booming telecommunications industry and opportunities for growth in the technology industries have also remained largely ignored by the media. Perhaps the lack of coverage of such newsworthy stories is as a result of inadequate information or it may be that these events and developments haven’t been a major area of focus for the media.
Whichever way one perceives the issue, the effects are very much the same-a largely under informed group consisting of millions of Africans in the Diaspora, and other interested enterprising individuals outside the continent without knowledge of the developing business landscape in these African countries. Who is to say that this lack of awareness has not hindered the growth of the private sector in these countries, thus inhibiting the overall growth of these economies? Another disconcerting effect of the lack of information on these opportunities is visible in the career options of Africans pursuing educational opportunities in the Diaspora, particularly the college undergraduate and graduate students. A large number of these students do not consider what career options are available to them in their home countries mainly because they are unaware of the existing opportunities. At the crux of the matter is the lack of informational events targeted at undergraduate and graduate college students in the Diaspora, as well as business professionals. Such events should be aimed at nurturing the career and business interests of these students and professionals, by enlightening them on the opportunities presented by the continent’s growing business landscape.
In an attempt to address this need for information, the Howard University African Students Association (HU ASA) is organizing an African Business Conference modeled after both the highly successful Harvard University African Business Conference (HUABC), and the Wharton Africa Business Forum (WABF). Both conferences have successfully attracted large attendance over the years, as both have served as a means for the international community to get a firsthand account, from experienced individuals, on the burgeoning business climate in African countries.
The Howard University African Business Conference will feature panelists with firsthand experience and expertise in successfully pursuing a career or business interest in Africa, also highlight the developing investment climate in African countries. Howard University, as a leading Historically Black College (HBCU) in the U.S., and its auspicious proximity to various international organizations, embassies and universities in the Washington, DC metropolitan area, has always garnered interest and support of African students and professionals in the U.S for its various events focused on Africa. With a large population of international students from African countries, and its role as a rallying point for promoting the African image in the Diaspora, we believe that the university is strategically poised to attract successful and enterprising individuals who are genuinely interested in pursuing business and career opportunities in African countries.
Statement of Problems
The conference aims to address the following identified problems:
1. A general lack of coverage on developments in African countries, especially inadequate information on existing opportunities in African countries.
2. Lack of networking events for African students in the U.S. colleges, both undergraduates and graduates, to interact with corporate bodies, as well as successful entrepreneurs, operating in African countries.
3. Inadequate access to information on growing investment opportunities presented by many developing countries in Africa.
4. Lack of focus on entrepreneurial and investment opportunities posed by the needs of African countries; we believe that the focus should not remain largely on the government and international agencies for economic growth, but also on the private sector.
Objectives
Having identified the above listed problems, the conference has been designed to creatively tackle the above listed issues. It is hoped that by the end of the conference the following objectives would have been realized.
- Facilitate discussions regarding career opportunities in African countries for prospective employers and employees.
- Provide an entrepreneurial framework for understanding the needs of African countries, and also highlight investment opportunities in these countries. This is a direct response to the inadequate coverage on existing or emerging opportunities in African countries.
- Provide a means for enterprising individuals (particularly those from African countries who have successfully pursued various business interests in Africa], to provide firsthand experience in navigating the journey from interest or passion to actual implementation of ventures back in Africa
- Provide students, professionals and other participants with an enabling environment to share their ideas or insights with each other during the interactive question and answer sessions.
- Nurture the interests of college students towards pursuing or developing viable business ventures in Africa.
- Provide access to information on the business landscape in African countries, as related by individuals with the relevant expertise.
- Assist corporate bodies expanding in Africa in presenting their companies to a young and dynamic college audience focused on such career opportunities.
