New Dawn: Launch of Africa Business Cell

Thursday, July 22, 2010 Posted by Bhushan Bapat

July 21, 2010 became a historic day for IIFT as it became the first B-School in India to have an exclusive Africa Business Cell. An entirely a student initiative, it aims at promoting Africa which is beyond war, genocide and famine. It primarily aims at

• Increasing awareness about the vast business opportunities in Africa among the student community of IIFT
• Enhanced interaction among IIFT faculty & students, and leading African & Indian businesses and government officials

The inauguration ceremony was followed by a panel discussion on the theme, ‘India as partner of Africa in growth.’ The panelists included The High Commissioner Designate of Rwanda, The Charge d’affaires, The Embassy of Ethiopia, The High Commissioner of Gambia, The Ambassador of Tunisia, The High Commissioner of Eritrea and The General Manager, The Triton Group.

According World Economic Forum Report (2009), between 2001 and 2008, growth in Gross Domestic Product of the continent of Africa pegged an average of 5.9% annually. This was accompanied by substantial inflows of FDI (foreign direct investment), leading to almost doubling of FDI stock between 2003 and 2007. The McKinsey Quarterly Report 2010 also speaks of how macroeconomic reforms have reduced inflation, improved regulatory environment and opened economies to international business and trade. In this context, Africa offers immense business opportunities in agricultural commodities sourcing and trading, consumer goods, oil & natural gas, automobiles, education, health care, etc.

No wonder such an initiative focusing on Africa is going to bring immense learning and growth opportunities.Kudos to the Africa Business Cell Team and IIFT.


  1. Abhishek said...

    Hey Guys,

    Good work... just a pointer to drive your efforts in a quantifiable direction:
    Try and develop a framework which a foreign company should have to start an organization ( this will go a long way in ur understanding of how business is done in Africa - and yes the framework is very different from rest of the world)
    Try and find the reasons why businesses are flowing from all over the world to Africa. And no, the answer is not resources and labour alone.

    All the best in your endeavours.

    GO IIFT GO!!!

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