Transcript Art Gerstenfeld

Fifth U.S. Africa Business
Conference
Arthur Gerstenfeld, Ph.D.
WPI-Africa Conference 2008
Fifth U.S. Africa Business Conference
• Sponsored in part by:
– U.S. Department of Education, Business and
International Education Division
– Corporate Council on Africa
– Worcester Regional Chambers of Commerce
– WPI
WPI-Africa Conference 2008
Why Are We Here Today?
• To hear new ideas
• To make new contacts
• To share articles, references, and new
research (see article on Africa ports,
Gerstenfeld, Njoroge)
• To move toward partnerships or other
relationships
WPI-Africa Conference 2008
WPI-Africa Accomplishments
• Seventh Anniversary of sending students to Africa
• Over 180 students have done projects in Africa
• Ten faculty have supervised projects in Africa; first
faculty Fulbright scholarship to Africa
• Publication: two books & six articles about Africa
• University of Maragoli initiated
• Kenya businessman returns to present investment
opportunities in Africa
• Almost $1,000,000 of research grants
• $100,000 donation by GE to support the
WPI Cape Town Project Center
WPI-Africa Conference 2008
What Does New England Have to
Offer Africa?
• A spirit of innovation
• A spirit of entrepreneurship
• Possible partnerships, investments, or
other alliances
• Highly educated and trained labor force
• WPI projects such as studies on risk
(RBS and BNP Paribas)
WPI-Africa Conference 2008
What Does Africa Have to Offer New
England?
• Africa has a market of almost 1 billion people
• Many skilled and educated workers
• Abundant natural resources, more than 50%
world’s supply of platinum, manganese,
chromium, diamonds
• Nigeria & Angola – 20% word’s oil
• US imports more oil from Africa than
the middle east (forecast 25% by 2010)
WPI-Africa Conference 2008
Plans for the Day
• Five panels, each with four to five members
• Each presentation limited to ten minutes
During a break in the morning, lunch, a break in the
afternoon, and the final reception, there will be time
for information exchanges and contact-building
WPI-Africa Conference 2008
Outcomes Expected
• New contacts
• New ideas
• It should be the beginning of alliances that
can then be built further during the
remaining days of the conference.
WPI-Africa Conference 2008
A Challenge to Consider
• China has become the most aggressive investor
nation in Africa.
• China is investing heavily in Africa.
• New England can lead the United States in
recognizing the potential of Africa.
– (see Gerstenfeld and Njoroge pre-published article at
this conference: The International Journal of
Business Disciplines, Fall 2008)
WPI-Africa Conference 2008