Three black business executives from B-Direct, a corporate board preparation and executive search firm, discussed closing the corporate board gap in a virtual forum.
Shoppe Black reports members of B-Direct’s executive team Larry Yung, Andra WardWhen Henri Ward participated in a virtual forum to discuss why black professionals should pay more attention to the African business environment and the mutual economic value of culturally linking the African and US diasporas.
There are over 430 companies on the African continent with an annual turnover of $1 billion. As for these businesses, 50% are of local origin, 40% are listed companies and 60% are privately owned. Africa is also home to the richest black men in the world, Ariko Dangote.
With more than 20 years of business experience working with and advising governments, businesses and influencers on a variety of issues in the US and the African continent, Yong talked about the difference between B-Direct and other board search companies. did.
“Our program attracts the attention of various stakeholders to be successful,” Yon said at the panel discussion.
“One is clearly an advantage for board candidates. Their exposure and access to information will be accelerated and valuable not only to African boards, but also to US boards. , we don’t see ourselves as competitors. Here in the United States, many great organizations have worked to diversify corporate boards.”
The panel also discussed what US executives should consider when seeking board positions in Africa and how relationship building in Africa plays a role.
“I think one of the issues that resonates with people is this concept that we call cultural economics,” says Andra Ward.
“When you think about the cultural economics in relation to board placements, they are coveted positions. , and eager to be paid more for their ability to help others do the same. Hmm.”
“There are 54 countries on the African continent, and in many of our relationships with U.S. businesses and entrepreneurs, we have only seen 50 states and North America. increase.”
According to Henri Ward, B-Direct is currently in the process of expanding its network to South Africa, Ghana and Kenya, where it has already established business and government relationships.
“Besides that, we are also considering other countries on the continent such as Tanzania, Ethiopia and other countries on the western side of the continent.”
Black American businesses and entrepreneurs are increasingly looking to Africa. Africa is he one of the most untapped markets where even a small company can generate billions of dollars in revenue. In addition to black customers in the United States, Africa can provide opportunities for black businesses large and small to help build a significant international presence.
You can watch the full discussion on YouTube.