African Business Review
According to BCG’s report, each African market comprises a complicated blend of trade channels, consumption patterns, infrastructure issues, lack of data and, in the majority, a difficult regulatory and business environment, Multinational companies looking to do business in Africa need to recognise this.
Africa’s fast-growing markets mean the continent is attracting an increasing number of multinational companies. In sub-Saharan Africa, a 7 percent annual growth rate from 2005 through 2015 is now accelerating to an anticipated 12 percent a year through 2035.
When looking to expand into Africa, multinationals need to acknowledge that Africa is made up of 54 unique markets, and approach business decisions accordingly. For advice on tackling Africa’s complexity, we spoke to Takeshi Oikawa, Principal at the Boston Consulting Group.