Global Immersion: Africa's Consumer Market - The Case of Ghana

Africa’s consumer market has large potentials. Africa is the world’s second-fastest growing region – after emerging Asia according to the African Development Bank Report. About half of the growth of the continent’s GDP growth is due to consumer-facing industries. 1.3 billion people live in Africa and according to the United Nations, the population is expected to increase to 2.5 billion by 2050. The working-class population in Africa is growing by 2.7 percent each year (compared to 1.3 percent in Latin America and 1.2 percent in Southeast Asia). McKinsey projects that by 2025 two-thirds of the estimated 303 million African households will have discretionary income and consumer spending will reach $2.1 trillion. Not surprisingly, many firms and investors are trying to tap into Africa’s consumer market. This course aims to train students’ global intelligence, i.e. their understanding of specific cultural aspects of different consumer markets by analyzing the potential and challenges of Africa’s consumer markets – using Ghana as a case study. A West African country with 29 million inhabitants, Ghana was one of the fastest growing countries in the world with 8.1 percent GDP growth in 2017. Unfortunately, the economic outlook is less stellar now, but hopefully the country is getting back on track. Ghana is considered one of the safest and most stable countries in sub-Sahara Africa and the country shares similar demographic and consumer characteristics with its neighbors: About half of income earners are young (between 16 and 34 years old) and aware and eager to try new products. The students will work in groups on a project with an organization in Ghana that is consumer facing. Through work with the Ghana partner firm and interviews with consumers in Ghana, the students should develop ideas that can be turned into feasible solutions for the Ghana partner firms. The firms in Ghana will come from different industries ranging from a beverage producer to a tech platform facilitating the hiring of African coders. The projects are time-consuming, and students are expected to spend a significant amount of time in NY working on those projects. In-country, students will spend about 2-3 days working in Ghana with the partner firm and prepare a presentation to the leadership of those companies. As a return on their hard work, students will get a truly multicultural immersion experience in Africa working on a project. The course aims at familiarizing students with interview-based customer insights as a tool to understand the unmet needs of consumers. Many of the problems facing international firms trying to succeed outside their home market is a lack of understanding of differences in culture and preferences. The project are scoped in such a way that that students are required to complete around twenty interviews with current and potential customers of their partner firm. In addition to understanding consumers in Africa, the course should also strengthen student’s cultural intelligence, i.e. their capabilities to function and manage effectively in culturally diverse settings. Working together with a student team in collaboration with a partner organization in Ghana will allow student to experience the benefits and also challenges of working in a cross-cultural environment. This course is part of the Global Immersion Program but has some specific features that distinguish the course from most other GIP trips. Travel to Ghana will take place during spring break, March, 9-16, 2024 to Accra. Global Immersion Program classes bridge classroom lessons and business practices in another country. These three credit classes meet for half a term in New York prior to a one week visit to the country of focus where students will meet with business executives and government officials while working on team projects. Upon return from the travel portion of the class, students will have one wrap up meeting at Columbia Business School. The 2023-2024 Global Immersion Program fee for all classes is $1950 and provides students with double occupancy lodging, ground transportation and some meals. It does not cover roundtrip international airfare. Attendance both in New York and in-country and regular participation are a crucial part of the learning experience and as such attendance is mandatory. Students who miss the first class meeting may be removed from the course. Please visit the Chazen Institute website to learn more about the Global Immersion Program, and visit the Global Immersion Policies page to review policies affecting these courses.