South African Nobel Prize laureate Bishop Desmond Tutu has described the Zulu word Ubuntu as meaning " Iam because you are". It represents humanness, sharing, community or humanity toward others. According to the Zulu maxim" A person is a person through other persons"( Ubuntu ngumuntu ngabantu).
Success in the African consumer markets comes from meeting basic human needs. It comes from recognizing and meeting the needs of African communities. Customers, employees, and business partners come from these communities. Business only flourish and become relevant when they begin to meet and address real human needs, and nowhere is this more true than in Africa, where the needs are so so great. In an economic sense, businesses recognize that "I am because you are".
Viable business models are being built in Africa and the thrust of the profitability of these companies has been the meeting of basic human needs of the consumers in the African society. Africa's population is largely young and the need for quality educational facilities and resources has never been great than at this point. As the demand for education and books soars, African governments have not been able to keep pace with the rapid demand for the basic human need, hence entrepreneurs have been closing the gap through providing educational resources such as books and stationery to a market that would otherwise have been without this essential requirement.
These many successful ventures in Africa are demonstrating that the best hope for Africa is entrepreneurship and market development. Humanity is what makes Africa an attractive market. It is basic need for food, shelter,
clothing, education and communication that are driving progress in Africa. It is the basic human desire for parents to provide the best for their children.
It is the indomitable spirit and creativity of entrepreneurs who are overcoming the challenges and drawing the African continent into one of the world's most important emerging markets.
Successful and profitable ventures are being built up from a simple standpoint in Africa, if you do not recognize what is happening in the community you can not meet the needs in that community.
Africa is a continent on the move! It is one of the world s most important emerging markets. The success of Africa hinges on balancing social development with sustainable economic progress.