In a renewed drive to foster stronger ties between US business leaders and leading African companies, a new African-led private sector initiative known as the Africa Business Fellowship has been launched at the Milken Institute Global Conference Los Angeles, USA.
The Africa Business Fellowship, an initiative of Econet, African Leadership Network (ALN) and Management Leadership for Tomorrow (MLT), will provide talented American graduates and entrepreneurs with exposure to the continent’s business and investment landscape.
Donald Kaberuka, president, African Development Bank, while commenting on the launch, said the launch of the programme will fill an important void, providing young American executives an opportunity to understand Africa’s fast changing business environment as part of a two-way learning process.
According to him, “I highly welcome the African Business Fellowship Programme and commend its sponsors. It is timely, coming at a moment when trade and investment between Africa and America is set to grow.”
John Rice, founder/CEO of MLT, said: “The Africa Business Fellowship will transform the career trajectories of highly talented Americans who aspire to be leaders on a global scale. MLT is excited to help give rise to such a strategically important initiative for the United States, for the African continent, and for the world more broadly.”
The Africa Business Fellowship represents a radically different approach to intercultural exchange – one that places value on Africa’s contributions to shaping global business practices. Last year, Africa was one of the fastest growing regions in the world. Global foreign investment into the region now outstrips official aid. Increasingly, entrepreneurs and investors are looking for ways to tap into the continent’s potential.
Fellows will be exposed to sectors driving the continent’s dynamism, including financial services, telecommunications, health care, pharmaceuticals, wholesale and retail trade, agribusiness and manufacturing. African companies participating in the initiative include Dangote Group, Dannex Limited, Econet, Hollard, Interswitch, Orbit Chemical Industries, Safaricom, SizweNtsalubaGobodo and TBL Mirror Fund, among others.
“This fellowship will play an integral role in strengthening business relations between Africa and the US,” according to Fred Swaniker, co-founder of African Leadership Network. “It will help achieve ALN’s mission of powering Africa’s prosperity by developing business leaders who have a deep understanding of—and affinity for—business in Africa.”
The Africa Business Fellows will attend local seminars and have access to some of the most influential African businesses and leaders. Fellows will collaborate with their African peers, notably the Mandela Washington Fellows, who were selected as part of the White House’s Young African Leadership Initiative (YALI). The fellowship launch follows the recent recommendations of the US President’s Advisory Council on Doing Business in Africa, which included the need to improve outreach between US and Africa businesses.
The fellowship will select and place high-potential Americans with successful African companies for up to 6 months. Fellows will be exposed to local business operations and cultures, and will develop relationships with peers and senior African executives. The Milken Institute – a nonprofit, nonpartisan economic think tank focused on increasing global prosperity through collaborative solutions – will use its platforms to enhance the visibility and reach of the fellowship.
KELECHI EWUZIE
