Africa Rising: How 900 Million African Consumers Offer More Than You Think

1. Baking Bread in Zimbabwe

Africa has more than 900 million consumers. Despite the challenges, every day they need to eat. They need clean water. They need shelter, clothing, and medicine. They want cell phones, bicycles, computers, automobiles, and education for their children. Businesses are already seizing these opportunities to build markets across Africa.

The headlines from Zimbabwe when I visited in July 2006 were dismal. Inflation was above 1,000 percent. Unemployment was over 70 percent.¹ Gas stations had not had official supplies of fuel for years, so people carried cans of gas in their trunks for long trips. Borrowing rates ran as high as 400 percent to 500 percent. A combination of the policies of President Robert Mugabe and Western ...