In Nigeria, Used Cars Mark a Step Up for Middle Class

The World Bank predicts that the number of middle-class Africans, whose income exceeds their basic needs, will rise to 43 million by 2030 from 13 million in 2000.  That growth extends to Nigeria, the most populous country in Africa and a budding economic powerhouse.  The average income per capita is $2700, meaning that most Nigerians can only afford used cars.  This has led to a booming used car import industry, and the establishment of used cars as status symbols for middle class Nigerians.

In Nigeria, Used Cars Mark a Step Up for Middle Class - WSJ.com

Win a trip to Africa

I've always been a huge fan of Nick Kristof, a columnist for the New York Times. He writes a lot about the developing world and the effect that business can have, both for the better and deleteriously, on the lives of millions who continue to live in poverty.

Kristof has spent quite a bit of time in Cambodia, and has written extensively about the unique circumstances there. The country is classified by the U.N. as "LDC" -- least developed country. It has an astonishingly young population, and that leads to unique problems and opportunities.

In 2010, Kristof is once again holding a contest. The lucky winner will travel with him to Africa to some of the poorest places on Earth to see, experience, and write about the developing world. It's the third year in a row he's doing this, and there will no doubt be thousands of applications. If you have any talent as a blogger, vlogger, or in writing generally, and you're in college, you should seriously consider applying.