Next Decade? Africa's Got it.
September 15, 2010By Tiffani Knowles

America thinks it's hot stuff. We purport to house THE financial capital, THE fashion capital, and THE technology capital of the free world.


And, maybe we're right.


It maybe the fact that we've originated some of global television's most replicated reality shows like Idol, Millionaire and Top Model or that we're the birthplace of the biggest social web network in the world, or maybe that our country just has a knack for transforming the virtual nobody with a bright idea, a web address and a fair amount of hustle into a multi-billionaire.


Still, we don't live alone on the planet and it's a shame to believe this to be true. Check this. A little over three USAs can fit into the continent of Africa. So, to be honest, if any place should be boasting about how hot their stuff is, it should be Africa.


Americans go from home to school to work blithely unaware that the Africa we see on the midnight "feed

the poor" infomercials does not even begin to depict the millions in natural resources, booming

entertainment industry and fertile business ground that is home to the continent.


"Considering the various struggles many African nations have undergone to obtain their independence, it's been a breath of fresh air witnessing the new economic revolution of the world's hidden gem....AFRICA," said Mohammed Mijindadi, General Electric Transportation Commercial Leader for West Africa.


Mijindadi - who is not alone among business managers in the U.S. doing similar work on the continent- re-located to Nigeria 11 months ago to jumpstart a new, highly lucrative business initiative for GE in the region.


Can this be true? Americans to leave the land of Coca Cola, Microsoft and Starbucks (which, by the way, are all companies that do serious business in Africa) to score more than promising business opportunities in... Africa?


Well...er....yep. So, with that being said...


Here are 10 things you didn't know about Mother Africa, but are totally true and make her the HOTTEST thing since speedos...


1. RAPID-FIRE GROWTH: According to projections from the World Bank, nine of the 15 countries in the world with the highest rate of five-year economic growth are in Africa. Larry Seruma, chief investment officer of Nile Capital Management, estimates that Africa is likely to grow by 4.7 percent over the next five years. Economists expect much slower growth in places like the United States and U.K. over the next few years.


2. THE NEXT HOLLYWOOD: Africa houses the third largest film industry in the world. Nollywood, as the Nigerian film industry is affectionately termed, churns out some 2,000 movies per year.


3. SITTIN' ON A GOLD MINE!: South Africa is the second largest gold producer in the world. And, the continent is the world's largest producer of diamonds, producing as much as 50% of global production. To date, Africa has produced over 75%, in value, of the world's diamonds with more than 1.9 billion carats worth an estimated $US 158 billion mined. Angola, Botswana and South Africa are its leading producers.


4. WAIT.WAIT.CHINA'S ON THE SCENE?: Yep. China's trade in Africa reached some $50 billion in 2006, boosting growth rates on the continent and spurring much-needed infrastructure improvements.


5. IT'S IN STYLE: Africa has been influencing the global fashion scene for the past few fashion seasons. Oscar de la Renta's 2008 spring collection included raffia hats and geometric prints. Earlier this year, celebrity stylist Rachel Zoe declared that the tribal trend is very "in" this spring. From wooden bangles to couture Ankara gowns, Africa's influence is irrefutable. Duro Olowu, an up and coming Nigerian designer, took the fashion industry by storm in 2004 and has been designing phantasmal prints ever since. He's even dressed First Lady Michelle Obama.


6. NOUVEAUX-RICHE AFRICAN-AMERICANS: As quoted in a March 25, 2009 article in NEWD, Stafford Bailey, director of the documentary film Blacks Without Borders, claims that "after Nigeria, South Africa is home to the largest number of African-Americans living outside of the U.S." This new phenomenon has resulted in these ex-patriates starting their own booming businesses and raking in millions.


7. SETTIN' UP SHOP: There are over 400 US companies doing business in South Africa alone. Companies like Boeing, GoodYear, Motorola and Merrill Lynch are permanent fixtures in the region.


8. GOOOOOOOOOAAAAAALLL: The 2010 FIFA [International Federation of Association Football] Soccer World Cup, was held in nine cities in South Africa this summer. The direct economic impact of the event is estimated at around 0.5% of GDP in 2011.


9. OLDEST CUSTOMS UNIONS WORLDWIDE: South Africa and four of its neighbors-Botswana, Lesotho, Namibia, and Swaziland-have the oldest customs union in the world, which started in 1910. Therefore, if you do business in South Africa, you have simultaneously entered five markets. Just a stone's throw away, you find the very important markets of Angola, Mozambique, and Zambia, all of which are growing very rapidly.


10. WORK THE LAND, IF YOU WANT TO: Over 80 percent of Mozambique's arable land remains unused, providing rich opportunities for investors engaged in the agricultural sector.


So, listen, the kind of unremitting obliviousness that's rampant in America -- that's what really stokes my embers. So much so, that a column isn't enough. I'm the kind of gal that really needs to get my hands dirty. So, here's where NEWD will be this weekend and, if you know what's good for you, you'll be there, too.


Southern Africa Enterprise Conference:

Presented by non-profit organization Angel Africa, this conference is slated for Saturday, September 18 from 8 a.m. to 6 p.m. at Hotel Pennsylvania in New York City. It will highlight the investment climate in southern Africa.

It will showcase the latest economic developments that make this region a stand-out region for investment and entrepreneurship. Other sessions will feature a more in-depth discussion for sectors such as banking and capital markets, mining, technology, education, agribusiness and fashion.

Conference speakers include Larry Seruma, Nile Capital, Joseph Wambia, World Bank/CEO Wambia Capital, Gugu Lethu, President,Africa Fashion United Agency (AFUA), Jim Thaller, Managing Director, Talier Trading Group, Inc. and Dr. Teboho Moja, Clinical Professor of Higher Education, NYU, and former special adviser to South Africa's Minister of Education.

Register today! Visit www.angelafricaconference.com.


Nigerian Entertainment Awards:

The Nigeria Entertainment Awards (NEA Awards) are presented annually by NEA producers in the United States for outstanding achievements in Nigerian music, film, TV, comedy, fashion and radio. The NEA Awards 2010 will take place on Saturday, September 18 at 6 p.m. at the Tribeca Performing Art Center in New York City.

The awards ceremony features performances by prominent Nigerian and international artists, and some of the awards of more popular interest will be presented that evening.
The producers of the annual NEA are passionate about promoting African entertainment as well as using the NEA platform to address issues of concerns to Africans and friends of Africa.

The award show was established in 2006.

Visit www.nigeriaentawards.com to purchase tickets.




Tiffani is the Managing Editor of NEWD Magazine. She conducted a portion of her graduate studies in South Africa. She is bi-vocational in that she is also an educator.






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