Author: Olin Africa Business Club

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About Olin Africa Business Club

Olin Africa Business Club serves to increase the awareness of business opportunities, culture, politics, and economic potential of Africa at Olin & WashU community.


Toyin Umesiri

Chioma Ukeje and Sharon Mazimba, MBA 2019, contributed this post on behalf of the Olin Africa Business Club.

Where can existing business leaders and Olin business students find a market of 1.1 billion people? Or a market that demands innovation in sustainable and affordable agriculture, support for a burgeoning middle class, and action to build new supply chains?

The Olin Africa Business Club will explore answers to these questions and more in its first ever Olin African Business Forum, scheduled for March 30. The morning and early afternoon event includes speakers such as Toyin Umesiri, CEO of Nazaru; Mark Taylor, dean of Olin Business School; Rob Dunlop, regional business director for Monsanto; Anne Toba, CEO and founder of Ripples Foundation; and Ade Osibamiro, Project Manager and consultant for Mastercard.

“Olin Africa Business Club is positioned to elevate and expose Africa’s potential to current and future business leaders,” said OABC President Ony Mgbeahurike, MBA 2019. “This event is a key step in that direction.”

Toyin Umesiri, our keynote speaker for the event, has previously worked in various leadership positions at Walmart is passionate about bridging the gap between companies here and businesses in Africa. She will center her talk around opportunities and the potential the continent has to play a major role in the business world.

We asked Toyin some of her thoughts on key questions relevant to the forum.

What do American leaders need to know about Africa that they do not know?

Africa is a continent whose history is rooted in commerce and not different from other parts of the world like India, Latin America and China. Africa has 1.1 billion people, a quarter of the number of countries in the world, and is home to some of the fastest growing economies.

By 2050, the population of Africa is projected to double and become one of the world’s largest youth workforces. There is a functioning and business side to Africa with a growing middle class on the rise to claim global significance in years to come.

To support this, there are a growing number of leaders working to develop sustainable and affordable food solutions, inclusive health, create new supply chains and build the infrastructure to support seamless movement of goods and services across the continent. With manufacturing steadily shifting from China to Africa, business leaders can no longer ignore Africa.

America leaders will need to develop an effective strategy towards Africa if they want to engage in the market positioned for rapid economic growth in the future.

What do students need to know about Africa and the opportunities there?

We have all read the stories and seen the images depicting Africa has a region of war, famine and diseases. What is missing from the narrative on Africa are the stories that capture the aspirations of Africans: Their triumphs and quest to build successful businesses with global relevance.

The future of Africa is being created by innovators, change agents, entrepreneurs, and global business leaders working hard every day to build solutions that will power Africa’s growing economy.

Technology advancement on the continent of Africa is driving the creation of disruptive solutions and we must develop future leaders who would see and understand where the “world” is going and not only where it has been so that they can help create the future.

What opportunities exist for business leaders in Africa?

Africa offers new markets for US-made products. Similarly, the United States serves as an untapped market for authentic African products—raw and manufactured. For leaders interested in export and import, sustainable agriculture, supply chain, and logistics, they need to start thinking about expanding into Africa.


The Olin Africa Business forum is scheduled for March 30, 7:30 a.m. to 3 p.m., at Emerson Auditorium. In addition to Toyin’s talk, two panels are scheduled—one on agriculture technology and a second on leadership—featuring industry experts from companies such as Monsanto and Mastercard.

This forum promises to be exciting, informative, and will highlight the wealth of opportunities on the continent. Click here to get your tickets here now.




Olin Africa Business Club (OABC) was the brainchild of Ony Mgbeahurike. As a first-year MBA student, Ony saw there were few students at Olin from the African continent, and there was a dearth of information on Africa and the rich opportunities it has to offer. Africa had been buried in the conversation, an afterthought–and he wanted to change that.

He wanted Africa to become the narrative; to be part of the conversation.

“While applying to Olin, I realized there were many student clubs, but none related to business in Africa,” Mgbeahurike recalls. “I realized there was an opportunity to create an organization that could promote Africa and be a partner in achieving Olin’s mission and vision as a truly global school.”

Mgbeahurike recruited fellow students from Africa to conceptualize and launch OABC. Matilda Thomas, Sharon Mazimba, Chioma Ukeje, Eric Ontieri and Ubaka Ogbunude, are all founding members and officers of the club.

Among OABC’s ambitious goals is the mission to increase awareness of business opportunities, culture, politics, and the economic potential of Africa. Here a just a few facts that may surprise non-Africans:

  • Africa’s consumer spending to be $2.3T by 2025 (McKinsey report)
  • The United Nations predicts that one-fifth of the world’s population will be living in Africa by 2050, with over 40% being youth.
  • Uber, McKinsey, GE, P&G, Nestle, Danone, Unilever are among many companies currently investing in Africa.

While the overall theme is to raise awareness on campus, we believe that OABC can add value to the rich tapestry that is Washington University in St. Louis. We aim to help with recruiting by supporting the admissions office and serving as a resource to prospective students from Africa. We want to infuse Africa into the curriculum, encouraging professors to include the economics and business landscape into the classroom conversation.

We plan to encourage graduates to explore career opportunities in Africa. Collaborating with and leveraging the WCC platform and alumni network, we plan to extend the employment network for Olin graduates outside the territorial United States. Also, we are positioning to be a resource to Olin’s experiential learning opportunities on the African continent (e.g. CEL Practicum in Madagascar and Global Management Studies).

To learn more about OABC, please visit our CampusGroups page or visit our room at the One World Event on November 3, 2017 in Simon Hall, 6:30 p.m.

 

 

 


OABC Officers

Ony Mgbeahurike, President
Ony was born and raised in Owerri, Nigeria. He moved to the U.S at age 12 where he completed his undergraduate degree in Manufacturing Operations at University of Minnesota Twin Cities. Having worked at General Mills for over 3 years in various roles, Ony’s passion and ambition is to increase global food supply, especially in Africa. He plans to use his MBA as a springboard to realize his ambition.

Chioma Ukeje, VP Finance
Chioma was born and raised in Lagos, Nigeria where she completed her undergraduate degree in Accounting with Honors from Covenant University, Ota. She has worked in various functions since then, her last stint being in Guaranty Trust Bank, PLC Nigeria. Chioma is passionate about finance and strategy, especially in the technology space, and is using her MBA as a platform to realize this career path; she is also passionate about youth development in Nigeria.

Matilda Thomas (VP Programs)
Matilda is an architectural designer with experience working in both the United States and Nigeria. Originally from Nigeria, she earned her BA degree with honors in architecture from Baylor University in Texas in 2014. Matilda is a career switcher interested in working in strategy and consulting. She takes special interest in issues affecting the developing world, especially Africa, and hopes that through a career in consulting, she would be equipped to tackle some of the most pressing issues affecting the continent.

Sharon Mazimba (VP Programs)
Sharon is a first-year MBA hailing from Lusaka, Zambia. She has traveled and lived in various places, which has exposed her to the different views and perceptions people have about the continent. She is therefore extremely excited to be part of a club that is bringing Africa and all the amazing opportunities the continent has to offer to the Olin and broader WashU community.

Ubaka Ogbunude (VP Social)
Ubaka was raised in Eastern Nigeria in a middle-class family. He has a bachelor’s degree from University of Calabar and Post Graduate Diploma from National Open University of Nigeria. Ubaka has about 9 years of career experience from Zenith Bank Plc- a leading retail bank in Sub Saharan Africa. Ubaka’s interest rests on emerging and developing financial markets.

Eric Ontieri (VP Communications)
Born and raised in Nairobi, Kenya, Eric pursued a BSc. in Actuarial Science at St. John’s University before doing a stint on Wall Street. He then moved to Kenya to start an ISP targeting the lower half of the pyramid. He came to realize he was insufficiently skilled to scale the business and enrolled at Olin. He has an interest in technology, finance, and social entrepreneurship.


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