Saturday, June 26, 2010

The Rise of South Africa's 'Black Diamonds'

Although, I primarily focus on most things American with this blog, I enjoy reading and learning about other Black middle class cultures from around the world. But for a ton of reasons, it's been rather difficult to gain access to reliable data on the Black middle class outside of the United States.

So I am really pleased that South Africa’s rising middle class (referred to as ‘Black Diamonds’) is gaining international attention. Out of the ashes of apartheid, this group of upwardly mobile professionals has an estimated $250 million in spending power while increasing their ranks about 30% each year.

This group (who loves driving BMWs) will be fun to watch as they begin to craft out a philanthropic focus targeted to those less fortunate.

Interestingly enough, I haven't seen any stories about this group covered on any of our popular Black blogs.

So, I’ll keep my ears to the global ground for exciting ‘Black Diamonds’ trend spotting.

And, I am soooo sure my SA readers will keep us in the loop too!