Over the past decades, many new development initiatives have been introduced in Africa, each of which has been heralded as marking a new era in Africa’s development, but all of which have failed to produce the much anticipated results. Nowhere has less growth and development taken place than in Africa, especially Sub-Saharan Africa (SSA). Per capita GDP has declined by more than one percent per annum in real terms since 1980, and the gap between the per capita GDP of Africa and the average for all low-income developing countries has widened considerably.
Africa’s efforts to achieve sustainable development have traditionally been hindered by a myriad of factors, including weak institutions, poor governance and inadequate technology development, transfer and management. These have, in turn, have hampered attempts to improve low levels of productivity and competitiveness.
Recently, however, SSA has become home to 6 of the 10 fastest growing markets in the world (2013). Economic growth in the region is predicted to be strong and, most importantly, millions of Africans are finding the path from poverty to greater opportunities and prosperity.
The complex relationship between the economy, society and the environment and scientific knowledge requires a multi-disciplinary approach, and calls for skilled communication to be able to address technological issues as well as the political framework within which problem solving necessarily takes place.
When it comes to future global investment strategies, Africa is high on the agenda for investors and entrepreneurs. The continent has become a more attractive investment destination over the last decade and is expected to sustain its long term investment potential. To build on its achievements, Africa’s business leaders need to strengthen the continent’s competitiveness, foster inclusive growth and build resilience in a volatile global environment. Despite strong economic progress in Africa, there is a lack of literature regarding the role of business in African sustainable development strategies.
The Palgrave Studies of Sustainable Business in Africa series will act as a forum to provide senior academics, leading scholars and business professionals with the opportunity serve African business and academic literature with the best available knowledge in the field.
The series assumes a fair amount of prior (specialist) knowledge about business and sustainability in Africa. In doing so, it will conceptualize various business and management theories to address practical challenges for African business development and provide guidance for more effective and successful business practices in Africa.
The series will adopt and adapt Western business and management theories and concepts for African business environment. It will demonstrate the practical application of various theoretical frameworks and perspectives for sustainable business development in Africa which will, in turn, develop new ways of doing business in Africa.
The Palgrave Studies of Sustainable Business in Africa series also aims to provide a global perspective of international business as a context for domestic sustainable business practices in Africa. In addition, it will enable readers to become conversant with the theoretical background for international business activities and their links to national and African markets and marketing.
The series provides a sound grounding in the terminology of sustainable business and an overall perspective of these terminologies within the context of an organization in African settings. It will also develop a number of analytical tools to interpret the role and functions of business, in both internal and external environments.
The innovative approach adopted by this series will enable readers to understand the underlying business theories and methods; this is essential for both local organizations and multinationals operating in Africa, while familiarizing graduate-level students with the fundamentals of conducting business in Africa.
The book series will present an original and uniquely African perspective, addressing the conceptual and empirical areas of business and sustainability in Africa that has not been previously addressed. The research provides a new paradigm of thinking about sustainable business development in the African context.