The IRON List - September 14, 2017
1. Industry: Does Africa Have the Luxury?
In South Africa, the wine production industry is a $3 billion USD industry, and yet “less than one percent is owned by black South Africans,” says Selena Cuffe, CEO of Heritage Link Brands, in an interview with CNN. Her company now widens the customer base for several businessmen and businesswomen of the Western Cape (and also Brazil). Since at least 2013, the growth of the luxury goods market in Africa has been monitored by the Financial Times, Forbes, and other well-known business publications, and products like handicrafts (e.g. African wood carvings) command high prices internationally. Read more below on how Africans (and others alike) are capitalizing on this sector.
“The e-commerce sector is rapidly gaining acceptance as a retail channel for luxury goods in emerging countries - especially Nigeria.” --Forbes, “Nigeria: Africa Gets Ready for its First Luxury E-Commerce Platform.”
“[T]he high-end consumer goods available in Africa are comparatively cheaper. And who doesn’t like a good bargain?”--The Times of Africa, “The African ‘Luxury Diaries’.”
“Despite the extreme levels of poverty and inequality...high-flying fashion brands such as Hugo Boss are already operating in Nigeria, while Prada, an Italian fashion label specializing in luxury goods, has disclosed plans to enter the Angolan market next year.” --Ventures Africa, “Is Africa a Major Market for Luxury Goods?”
2. Research: In Need of Solid Foundation
The Economist is reporting a housing crisis in all of Africa, particularly when it comes to affordable housing for the continent’s poorer population. Very few countries (Ethiopia, Cameroon, and Angola, namely) offer subsidized housing, and the majority of these programs are led by the private sector - raising concerns about oversight, quality, and sustainability. A report published by Knight Frank talks of retail development being the primary concern of real estate investors in Africa, seemingly demonstrating that the wealth gap will be exacerbated faster than anyone can resolve it.
3. Opportunities: Paid, Volunteer and Competitive
Vice President and Chief Operating Officer at the World Bank
Brand Manager at Kwese
Conservation volunteers needed for African Impact
Volunteers still needed for Amazing Grace Children’s Hospital
4. Networking: Nigerian Independence and Philanthropy in Africa
Hello Nigeria Independence Day Weekend 2017 is happening in Washington, D.C., starting with a Welcome Mixer on September 28th, and headlining with the Official Gala at the Wonder Bread Factory (September 30th). Purchase tickets here.