Africa is nothing if not a conundrum.
Rich in minerals, agriculture, wildlife, and other essential resources, it boasts a burgeoning population and enormous potential. However, many global brands are hesitant to dip their company toes in the African waters. Tales of corruption, poverty, and failing infrastructure are rife and tend to put off even the most resourceful growing brands.
But, here’s an interesting statistic for you to mull over:
What should be a time of gentle care in the company of loved ones, cosy nights with family and slow An incredible 400 companies in Africa boast annual revenues of $1 billion or more. The numbers show that, on average, these companies are growing faster and earning more profit than their global counterparts!
Big Brand Challenges
If that’s caught your interest, you’ve likely considered growing into Africa but are reluctant to do so.
You were on the right track though.
Yes, there are certainly some unique challenges facing new brands in Africa. However, statistics clearly show that, when done right, the numbers stack up for global businesses.
If you’ve been considering launching your brand in Africa, we’d like to encourage you to read our latest white paper, 7 Challenges of Launching a Brand in Africa.
We’ve delved into the most common tripwires facing newcomers to the African shore, but most importantly, noted some simple and feasible solutions. We’ve touched on:
- Cultural diversity
- Data and WiFi access
- Digital payment
- Abnormal consumer behaviour
We know that you’ll find the information contained in this paper practical and insightful, and we hope that it serves as a springboard for you to take that first tentative step into African waters.
There are tremendous financial benefits for those brave souls who take the plunge – see for yourself.