Has the coveted MBA degree lost its lustre in East Africa?

This question was posed at a recent social gathering, chiefly prosecuted by a seasoned head hunter in East Africa.

While the discussions, invariably, took a tangent, this being a social event on a Saturday evening where wine was perhaps served with too much verve, I listened carefully to the arguments of those who freely dove into this conversation, especially as my bias was not discovered until later that evening.