Neo-power Africa

With a young population and undergoing urbanisation, abundant natural resources and an expanding middle class, Africa seems to possess all the necessary ingredients for exceptional growth.  The winning strategy is that of “pull” growth: innovators are developing products that people want to buy; they are creating markets that fundamentally promote sustainable growth and prosperity.

Multinationals have been trying to apply Stuart L. Hart’s theory in Africa for the last 15 years, implementing a wealth creation strategy with populations at the bottom of the pyramid, an inclusive capitalism uniting businesses, governments and NGOs for a common cause. However, the multinationals are failing, and reducing their investment in the face of its often recurring failure factors (corruption, inadequate infrastructure, lack of competence, as yet insufficiently big middle class): the PUSH strategy does not work. Conversely, PULL strategies work as they fulfil the needs of consumers and their day to day difficulties.

This continent is an area to be explored, conducive to disruption, a blank canvas as far as technology is concerned, and therefore ready to test everything, such as low-tech, for example. In these times of globalisation, it is vital to consider Africa as a continent of the future, without underestimating the economic and demographic diversity of the countries in it. The digital revolution will generate the next transformations in all sectors of the economy, from energy to health, from education to employment.