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By investing in African countries, moving them beyond subsistence, Jonathan Bloom (MBA 1972) fuels some of the world’s potentially fastest-growing markets. As deputy vice president for the Millennium Challenge Corporation (MCC), he oversees investment programs in Africa. “The MCC’s mission is to reduce poverty through economic growth, and it’s been very effective,” says Bloom. The US agency, now with an annual budget of about $900 million, has committed more than $10 billion to projects in developing countries that meet a variety of benchmarks—over 70 percent in Africa.
Africa is the world’s second-largest and second-most populous continent. “Over the next several decades, Africa will build on the energy, skills, and aspirations of many of its people, offering a great opportunity for investors and businesses to ‘do well while doing good’,” says Bloom.
He attributes the success of his efforts in Africa in part to the HBS course Written Analysis of Cases. “It combined the need for crisp, cogent analysis, based on the limited evidence available, and coming to a decision within a strictly limited time—just like real life.”
(Published April 2014)
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