The Base of the Pyramid markets in Africa

Abstract

The continent of Africa is not homogenous; rather, it varies significantly across its five regions – North Africa, East Africa, Central Africa, West Africa, and Southern Africa. Although the continent is endowed with rich resources, it remains volatile and faces myriad problems including poverty, corruption, and inadequate infrastructure, to name a few. Africa faces enormous social challenges where about 33.9% of its population live in extreme poverty, and herein lies a great opportunity for the Base of the Pyramid (BOP) ventures to emerge. While development organizations are looking for solutions to alleviate widespread poverty, the private sector has a role to play in alleviating poverty through market-based solutions, as well as partnering and collaborating with other state and non-state actors to contribute to the sustainable development of local communities in Africa. In this chapter, we survey the literature on BOP in Africa and highlight the current conversations and debates, as well as identify gaps in the literature where further research is required. To enrich our understanding of the nature of BOP initiatives and marketplaces in Africa, we present three interviews with BOP market experts who discuss the drivers, barriers, and the future of BOP enterprises in the continent.

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