Tapping into Africa’s emergent business market.

With the growing number of investors capitalising on business prospects across Africa, a sea of opportunity has opened for dynamic entrepreneurs and experienced professionals to tap into Africa’s largely undiscovered prospects.

The Africa Wealth Report 2016 estimates that Africa’s private banking market will grow by 7% per annum over the next 10 years and South Africa (mainly the city of Johannesburg) is the hub for African private banking with US$72 billion in Assets under management (AuM).

165,000 High-Net-Worth Individuals

The report adds that, in Africa there are approximately 165,000 High-Net-Worth Individuals (HNWIs) with combined asset holdings of US$860 billion, and around US$28 billion is tied up in venture capital companies and foundations that are linked to the wealthy. It has also been reported that many HNWIs utilize these avenues as a way to transfer money to the next generation, and that roughly US$125 billion of African HNWI wealth is connected to wealth management companies.

Events such as the Africa MBA Indaba provide distinctive opportunities for business school alumni, corporations and Africa-focused organizations to come together, pitch ideas and expand their knowledge on best practice for doing business on the continent.

Eric Wright, Director of the Africa MBA Indaba, a conference and career fair for business school alumni interested in Africa says, “If you’re passionate about building businesses as an entrepreneur, investor, corporate executive, or social impact architect – Africa is your oyster. The continent is swiftly rising, and needs more business school alumni and dynamic professionals to accelerate the growth. Through networking with Africa’s business leaders, expanding your network, and exploring the opportunities in Africa more, you can be an integral part of the growth and development on the world’s second largest continent.”

The World Economic Forum on Africa 2016 highlights that, as many countries on the continent improve their investment climate and embark on macroeconomic policy reforms, foreign direct investment flows are expected to continue to grow, albeit at a slower pace. Despite 2015 having been a hard-hitting year for some African economies, there is light at the end of the tunnel for the continent’s robust business sectors and for professionals interested in tapping into this expanding vibrant market.

A piece entitled “Sub-Saharan Africa’s Most and Least Resilient Economies” published by the Harvard Business Review in February this year, comments that although some corporations in the region have been facing difficulties resulting from the present environment, primarily due to currency pressures, many other corporations are continuing to see strong growth. It further adds that the continent’s long-term potential remains attractive, which echoes the resilience of African economies despite a recent global economic recession.

Events such as the Africa MBA Indaba provide distinctive opportunities for business school alumni, corporations and Africa-focused organizations to come together, pitch ideas and expand their knowledge on best practice for doing business on the continent. The Africa MBA Indaba, taking place on 1st and 2nd August 2016 at the Sandton Convention Centre in Johannesburg, South Africa, will host topical discussions on matters such as partnering successfully with Chinese companies, innovations in social infrastructure, African consumer opportunity, entrepreneurship through acquisition, as well as the revolutions in mobile technology, among others.

The business opportunities in Africa span numerous industries and not only embrace Africa’s spirit of entrepreneurship, but also encompass opportunities to contribute as executives or senior-level team members at multinational corporations. Attending conferences and networking events on the continent is an essential way to gain influential contacts and get your foot in the door to one of the world’s most promising regions. So, why wait to get involved and capitalise on these opportunities now?