The difference between wealthy africans and wealthy african americans?

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koliko

Arlington, VA

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#41
Feb 13, 2013
 
Interesting selection of speakers on empowering women in business this year

http://www.hbsafricaconference.com/women-in-b...
koliko

Arlington, VA

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#42
Feb 13, 2013
 
i like this serial tech entrepreneur. I think I used his dating website 3 years ago, lol.
Tunde Kehinde, Co-Founder & Co-MD Jumia Nigeria
Tunde Kehinde is the co-founder and co-managing director of Jumia Nigeria, Nigeria's largest eCommerce platform with over 30,000 SKUs, 250+ employees, and funding from Rocket Internet and JPMorgan. Prior to Jumia, Tunde co-founded Bandeka.com , an online dating site targeted at Africans worldwide.
Tunde also worked with Diageo (owner of Guinness and Johnnie Walker) as a business development executive in London focused on the Africa continent and as an investment banking professional with Wachovia Securities in New York and North Carolina.
Tunde has a Bachelors degree from Howard University and an MBA from Harvard Business School.
http://www.hbsafricaconference.com/african-co...
Uncle Tom Patrol

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#43
Feb 13, 2013
 
dkanela wrote:
You do know that most of Africa does not use the dollar, let's talk about how much in their currency! Such arrogance!
so what is it in THEIR currency? tell us . I suppose you have different years as well, and all really live to 120. next you will say that you don't have AIDS.
Uncle Tom Patrol

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#44
Feb 13, 2013
 
koliko wrote:
Dear Happy from New York I am not sure about your powers of reading comprehension. If you read the article it tells you that the top billionnaires and millionnaires in Africa get their money from telecommunications, manufacturing, mining and other 'real' investments. The top aa billionnaires and millionnaires are all in entertainment.
Entertainment is more of a temporary and fleeting source of riches... ask Michael Jackson and even Oprah who is slipping in the ranks.
Capiche?
Michael Jackson is DEAD, you ask him, but you must dig him up first.
koliko

Arlington, VA

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#45
Feb 13, 2013
 
liking this online tv streaming but I wondeer if he is too late, there are already a lot of live tv streaming from African newsstations. wonder how the revenue modle will be able to monetize, ip issues, exclusivity etc

Daniel Ogbonna, Founder, Pana Television
Daniel Ogbonna is the founder of Pana Television, an online television service that legally streams Africa inspired video content worldwide. He has over 16 years of experience in advisory and leadership roles for Fortune 500 companies, start-ups and non-profits organizations.

He was the director of strategy for Limited Brands which owns Victoria Secret and Bath & Body Works retail companies. Prior to that, he worked as an investment banker and equity analyst for Merrill Lynch and J.P. Morgan, two of the leading Wall Street firms. Prior to working on Wall Street, Daniel worked as a strategy and operations management consultant for A.T. Kearney and Arthur Andersen. He was an engagement manager for multi-national projects for consumer product and media clients in Europe and United States. He also has significant experience in taking ideas to market. He was the founder and president of CZN Media s.r.o, a Czech Republic media and entertainment company, and the founder & CEO of MYSMARTPAC, a consumer product company in the United States.

Daniel has an M.B.A from Harvard Business School, an M.S. in Mechanical Engineering from University of Michigan ( a two-year degree program which he completed in 9 months), and a B.S. in Mechanical Engineering from Tennessee State University (Magna Cum Laude).

In his spare time, Daniel is passionate about music, sports and arts. He is an avid painter, black & white photographer, golfer and a squash player. He is also a big fan of soccer and F1.

http://www.hbsafricaconference.com/tv.php

“Leading the Revolution”

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#46
Feb 13, 2013
 
Uncle Tom

My point is when you compare currencies you have to take into account how much their currency is worth. Example the naira in Nigeria is about 156 to the dollar, in Uganda its over 2000, stop being so arrogant!
koliko

Arlington, VA

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#47
Feb 13, 2013
 
I am trying to get some of my pals interested in a mobile-based platform that merges paying internet content. There are over 500 million mobile phone subscribers in most African economies, successful add-on applications have mainly been in the money transfer sector.

http://blogs.hbr.org/cs/2012/07/africas_true_...

A nigerian firm has made a successful entry with free streaming of nigerian movies, it has partnered with youtube and itunes. recently, it raised $8 million of venture capital funding from a new york investor that also invested in facebook. I think it controls less than 30% of that market so more room for competition.

http://www.blackentrepreneurprofile.com/profi...
koliko

Arlington, VA

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#48
Feb 13, 2013
 
Mpesa is the largest mobile money platform in East Africa (aggh, cant believe they have edxpanded into India and Afghanistan now). I interviewed with them in 2008 and thought they may face serious competition. so far they have prevailed and grown into a billion dollar company. How to create a competing platform ... I need some progressive partners for positive brainstorming.

http://en.wikipedia.org/wiki/M-Pesa

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#49
Feb 13, 2013
 

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somali wrote:
<quoted text>
based on the article there is a difference(and that is how the article was titled), that is the point. The similarity of both being wealthy is obvious they are talking about the differences in how they got their wealth
the biggest difference is wealthy africans are usually part of a very small oligarchy and aristocracy where wealth is concentrated, while the rest of their country barely exist above the animals they live around.

theres very little innovation and competition in africa. you know this cuz so many african nations have to look outside africa to help them build basic infrastructure.

what are aa suppose to learn from this?
SSA

Arlington, VA

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#50
Feb 13, 2013
 
in the past, the wealthy were a small class. now the middle class is expanding and is estimated at 300 million people spending $680 million (see New York times article). Wall Street Journal projects the African middle class to grow to 1 billion in the next 30 years. Why do you think Bill Gates and all the other investors (your BET founder included) are rushing to invest alongside the Chinese?

http://www.nytimes.com/2012/11/15/fashion/a-m...
SSA

Arlington, VA

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#51
Feb 13, 2013
 
New York times article Part 1:
KAMPALA, UGANDA Amid the shrieks of saw blades and drill bits, Haziz Habibu methodically surveyed his work. Behind him rose Kampala’s ballet of cement and glass. They grew up together.
When he turned 21, Mr. Habibu left his father and brothers in their village on the slopes of Mount Elgon for the Ugandan capital, Kampala, joining what over the past decade has become a large migration of Africa’s rural youth to its burgeoning urban centers.
“My father was a digger,” Mr. Habibu, 39, says with a laugh.“Banana, cassava, beans, cabbage. Even in my village I was digging.
Mr. Habibu never attended secondary school but he knows how to work with his hands, and he set up shop styling furniture near the U.S. Embassy, not far from the city center.
Now he has a Nokia smartphone in his left pocket and a knock-off Chinese iPhone in his right. His children are attending St. Peter’s school nearby. But along with more money, there are more demands.
“Even yesterday the wife was talking a fridge!” Mr. Habibu says.
For tens of millions of Africans, the goal is no longer merely escaping poverty, but growing prosperous. According to recent reports from the World Bank and African Development Bank, more than 300 million Africans are now considered to be middle class, and 22 African nations are considered middle-income economies.
The standards are relatively loose: The African Development Bank measures anyone spending the equivalent of $2 to $20 a day to be part of Africa’s middle class. Most are considered to be “floating,” or only just exceeding the lower limit of the economic divide, but that does not negate what is happening on the streets.
Legions of African households like the Habibus are joining the broadening ranks of spenders — planning for the future, building homes, investing in businesses and saving for college. They are urbanized and informed, and pushing Africa forward while being ever more consumed by modern life and the things they say they have to have.
“I had another one, a black-and-white,” Mr. Habibu says, describing a recent $130 television purchase.“I gave that one to my brother in the village.”
Mr. Habibu and his family of six live in a two-room home he built for $1,500. They are recent arrivals to this universe, but plenty of people have come before them. Africa’s middle class is as broad as the continent, including ranchers, traders, taxi drivers, teachers, hair stylists, Web developers, aid workers and accountants.
And they have an appetite for consumption. Consumer spending in Africa reached $680 million in 2008, one-quarter of the continent’s gross domestic product, according to the African Development Bank. And with the economy of just sub-Saharan Africa forecast to grow at nearly 5 percent this year, 2008 begins to feel like a long time ago.
Among the brands that matter to Africans today are Adidas and Toyota, Johnnie Walker and BlackBerry; Sony, Polo Ralph Lauren and Philips; Samsung, Hewlett-Packard and Apple.
SSA

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#52
Feb 13, 2013
 
New York Times Article part 2 (continued)

In East Africa, a common market of 130 million people — 30 million of whom are identified as middle class — the integration of Kenya’s diversifying economy with development in places like Rwanda has set off a new era of regional retail chains, more affordable air fares and Wi-Fi hot spots. There also has been a flood of both luxury electronics and cheaper models from Dubai and China.
The region’s overwhelming desire for electronics is providing some fuel for the middle-class economic engine. East Africa has been the birthplace of a number of globally competitive tech start-ups, contributing to economic growth and introducing buyers to both an array of products and new assumptions of what life should look like.
Robert Lugolobi is a lucky man, for he married a doctor.
Dr. Emily Lugolobi works at Mulago Hospital, Uganda’s largest, where she earns $2,000 a month. Mr. Lugolobi recently became a financial consultant, after years with the government and then an international organization.
What that really means is that some days there is no work — but Dr. Lugolobi’s income provides a safety net. And over the years Mr. Lugolobi has bought land.
He recalls the first time he made a significant amount of money. Buying land was “the first thing I did,” he says.“Then I bought another plot of land.”

“Leading the Revolution”

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#54
Feb 13, 2013
 
Interesting information

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Since: Jan 12

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#55
Feb 13, 2013
 
SSA wrote:
in the past, the wealthy were a small class. now the middle class is expanding and is estimated at 300 million people spending $680 million (see New York times article). Wall Street Journal projects the African middle class to grow to 1 billion in the next 30 years. Why do you think Bill Gates and all the other investors (your BET founder included) are rushing to invest alongside the Chinese?
http://www.nytimes.com/2012/11/15/fashion/a-m...
With the increase of African international students studying in universities in Western countries, this shows that more are wanting to learn and help develop their countries. Angola is one of the fastest growing economies in the world, so more foreign investors are eying this.

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#56
Feb 13, 2013
 

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DISASTER LOOMS wrote:
<quoted text>
the biggest difference is wealthy africans are usually part of a very small oligarchy and aristocracy where wealth is concentrated, while the rest of their country barely exist above the animals they live around.
theres very little innovation and competition in africa. you know this cuz so many african nations have to look outside africa to help them build basic infrastructure.
what are aa suppose to learn from this?
That a bit of a cold war out look. There is a fast growing middel class in africa.

“Leading the Revolution”

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#57
Feb 13, 2013
 
@Disaster

Have you ever seen pictures of what Africa looks like?

Check out
trekearth.com
auntie bee

United States

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#58
Feb 14, 2013
 
the size of the lip plates??????????
Phoenix

Houston, TX

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#59
Feb 14, 2013
 
dkanela wrote:
@Disaster

Have you ever seen pictures of what Africa looks like?

Check out
trekearth.com
Have you ever been to Africa?

“Leading the Revolution”

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#60
Feb 14, 2013
 
Yes, I own house and land on the continent, my goal is to try and get more of my AA brothers to come and do the same. We cannot deny our African heritage, no more than our African brothers on the continent can deny us!

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#61
Feb 14, 2013
 
andrewza wrote:
<quoted text>
That a bit of a cold war out look. There is a fast growing middel class in africa.
not cold war era, africa is still in terrible shape. though i do know its middle class is growing, it still has a long way to go. you should also know that growth and improvement is rarely linear. so its possible many african nations can take some steps backwards before they eventually get to where they need to be.

i don't wanna romanticize this. african will rise, but as of right now there's nothing aa can learn from africa.

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