Global consulting firm, Accenture recently released a report highlighting four key pointers on entering African markets. These pointers will be useful to investors looking to enter high potential sectors in some African countries. Find the four pointers below. We will also be publishing some of the other insights from the report soon so stay tuned!
Four key pointers on entering African markets by Accenture
1. Scan the landscape: Appoint a dedicated Africa team to evaluate the relative attractiveness of the various markets and sectors in Africa. The unique skills and competitive advantages the company could bring to the markets it chooses enter must also be identified.
2. Establish beachheads: Invest in a small stake in local companies as a base from which to seize future opportunities.
3. Create local models: Develop products and solutions that are focused on meeting the needs of the local market.
4. Build ecosystems: Seek out and establish partnerships, alliances and networks to help develop the local community and to support the chosen strategy going forward.