DuPont Leaders: Growth in Africa Gains Momentum
The Africa Immersion Project (AIP) recently was launched with a team of 30 DuPont business and functional leaders from North America, Asia and the Europe, Middle East & Africa (EMEA) region, who will take a focused look at African markets.
The AIP project is sponsored by the DuPont Growth Board. The project team will conduct a three-week intensive rapid market assessment (RMA) in three key countries in the region:
- South Africa
- Nigeria
- Kenya
The team will engage with business leaders, government officials and industry stakeholders to understand some of the underlying local business drivers in these three countries which, collectively, produce approximately 60% of Sub-Saharan Africa’s gross domestic product (GDP).
The objective will be to identify opportunities for DuPont by country and sector and develop a prioritized list of compelling projects that will feed into the 2011 prioritization of initiatives (POI) process. In addition, AIP outputs will serve as the foundation for the long-term strategy work under development.
| Tom Connelly | Ian Hudson |
“The International Monetary Fund (IMF) is forecasting that the region will sustain an average annual growth rate of 6.5% through 2015,” Tom said. “In line with our corporate objective to grow in emerging markets, we are counting on this project to outline our growth in this very important region.”
“DuPont business in Sub-Saharan Africa grew by 15% compound annual growth rate (CAGR) between 2002 and 2008,” said Ian Hudson, president – DuPont EMEA. “With added focus and targeted investments, we are confident we can grow 20% CAGR over the next several years.”
SOURCE
