GWSB graduate students will evaluate applications for business ventures in sub-Saharan Africa funded by the U.S. Agency for International Development (U.S. AID) and The Western Union Co.
Students taking Associate Dean for MBA Programs Liesl Riddle’s “Migration, Identity and International Business” course in 2012 will conduct first-round reviews for the “Second Africa Diaspora Marketplace” project. Members of the GW Entrepreneurs student club will also participate in the reviews.
“The School is fortunate to be partnering with USAID and Western Union in this project,” said Riddle. GWSB’s Center for International Business Education and Research (CIBER) is providing research support.
The students will consider plans for businesses in Angola, Benin, Cote D’Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Kenya, Liberia, Mali, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tanzania, Uganda and Zambia.
The project is designed to encourage economic growth and job creation in sub-Saharan Africa by giving U.S.-based entrepreneurs from Africa ideas for businesses in the region.
Western Union CEO Hikmet Ersek said the project will encouraging more direct investment in Africa by the more than 1.4 million Africans living in the United States, according to the U.S. Census Bureau.
“Our support for innovative diaspora entrepreneurs is an investment in the long-term economic health of Africa,” he said.
Last year, the African Diaspora Marketplace awarded more than a dozen matching grants of $100,000 each to business entries from seven countries. The projects included such proposals as a high-speed ferry powered by sunflower oil in East Africa and a mobile anti-counterfeiting service for pharmaceuticals in Nigeria.
The Western Union Foundation, which has given $71 million in grants to support education, financial literacy, small business development and other programs worldwide, and the Tony Elumelu Foundation, an African-funded nonprofit promoting African private-sector competitiveness, support the project.
For more on the African Diaspora Marketplace:
Posted by gwsb on December 6, 2011 | Filed under: GWSB News.