Rising Africa
  • Home
  • Success Stories
  • Opportunities for Africa
    Call for Applications – Climate Mobility Pavilion Youth Delegate Programme at COP28 in Dubai, UAE (Fully Funded)

    Call for Applications – Climate Mobility Pavilion Youth Delegate Programme at COP28 in Dubai, UAE (Fully Funded)

    Chevening Oxford Centre for Islamic Studies Fellowship (OCIS) and OCIS Abdullah Gül Fellowship (Fully Funded for Study in the UK)

    Chevening Oxford Centre for Islamic Studies Fellowship (OCIS) and OCIS Abdullah Gül Fellowship (Fully Funded for Study in the UK)

    Chevening UK Government Scholarships Programme 2024 for Study in the United Kingdom (Fully Funded)

    Chevening UK Government Scholarships Programme 2024 for Study in the United Kingdom (Fully Funded)

    Applications are now open for Global Citizen Fellowship Program 2023/2024 for young advocates.

    Applications are now open for Global Citizen Fellowship Program 2023/2024 for young advocates.

    Node Eight and Junior Achievement Ghana Google Career Certificate Scholarship Program (Ghana)

    Node Eight and Junior Achievement Ghana Google Career Certificate Scholarship Program (Ghana)

    UBA Foundation 2023 National Essay Competition for Nigerian senior secondary students (10.5 Million Naira in educational grant)

    UBA Foundation 2023 National Essay Competition for Nigerian senior secondary students (10.5 Million Naira in educational grant)

    The World Bank Treasury Summer Internship Program 2024 for young People.

    The World Bank Treasury Summer Internship Program 2024 for young People.

    Africa CDC Epidemiology Track Fellowship Programme 2023 for public health professionals. (Fully Funded)

    Africa CDC Epidemiology Track Fellowship Programme 2023 for public health professionals. (Fully Funded)

    DSTV Graduate Development Program 2023 for young South Africans. Join the MultiChoice Revolution!

    DSTV Graduate Development Program 2023 for young South Africans. Join the MultiChoice Revolution!

  • Regions
    • All
    • Central Africa
    • East Africa
    • Southern Africa
    • West Africa
    • World
    Nigerian Couple Make History by Qualifying for Paralympics Games

    Nigerian Couple Make History by Qualifying for Paralympics Games

    The Young Tennis Sensation’s Triumph at the US Open and Beyond

    The Young Tennis Sensation’s Triumph at the US Open and Beyond

    Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

    Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

    Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

    Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

    Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

    Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

    Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

    Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

    Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

    Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

    Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

    Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

    Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

    Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

    Trending Tags

    • Yes We Can
      • All
      • Persons with disability
      • Sheroes of Africa
      • Super Teens
      • Wonder Kids
      • Young Achievers
      Nigerian Couple Make History by Qualifying for Paralympics Games

      Nigerian Couple Make History by Qualifying for Paralympics Games

      The Young Tennis Sensation’s Triumph at the US Open and Beyond

      The Young Tennis Sensation’s Triumph at the US Open and Beyond

      Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

      Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

      Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

      Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

      Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

      Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

      Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

      Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

      Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

      Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

      Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

      Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

      Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

      Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

      Trending Tags

      No Result
      View All Result
      • Home
      • Success Stories
      • Opportunities for Africa
        Call for Applications – Climate Mobility Pavilion Youth Delegate Programme at COP28 in Dubai, UAE (Fully Funded)

        Call for Applications – Climate Mobility Pavilion Youth Delegate Programme at COP28 in Dubai, UAE (Fully Funded)

        Chevening Oxford Centre for Islamic Studies Fellowship (OCIS) and OCIS Abdullah Gül Fellowship (Fully Funded for Study in the UK)

        Chevening Oxford Centre for Islamic Studies Fellowship (OCIS) and OCIS Abdullah Gül Fellowship (Fully Funded for Study in the UK)

        Chevening UK Government Scholarships Programme 2024 for Study in the United Kingdom (Fully Funded)

        Chevening UK Government Scholarships Programme 2024 for Study in the United Kingdom (Fully Funded)

        Applications are now open for Global Citizen Fellowship Program 2023/2024 for young advocates.

        Applications are now open for Global Citizen Fellowship Program 2023/2024 for young advocates.

        Node Eight and Junior Achievement Ghana Google Career Certificate Scholarship Program (Ghana)

        Node Eight and Junior Achievement Ghana Google Career Certificate Scholarship Program (Ghana)

        UBA Foundation 2023 National Essay Competition for Nigerian senior secondary students (10.5 Million Naira in educational grant)

        UBA Foundation 2023 National Essay Competition for Nigerian senior secondary students (10.5 Million Naira in educational grant)

        The World Bank Treasury Summer Internship Program 2024 for young People.

        The World Bank Treasury Summer Internship Program 2024 for young People.

        Africa CDC Epidemiology Track Fellowship Programme 2023 for public health professionals. (Fully Funded)

        Africa CDC Epidemiology Track Fellowship Programme 2023 for public health professionals. (Fully Funded)

        DSTV Graduate Development Program 2023 for young South Africans. Join the MultiChoice Revolution!

        DSTV Graduate Development Program 2023 for young South Africans. Join the MultiChoice Revolution!

      • Regions
        • All
        • Central Africa
        • East Africa
        • Southern Africa
        • West Africa
        • World
        Nigerian Couple Make History by Qualifying for Paralympics Games

        Nigerian Couple Make History by Qualifying for Paralympics Games

        The Young Tennis Sensation’s Triumph at the US Open and Beyond

        The Young Tennis Sensation’s Triumph at the US Open and Beyond

        Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

        Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

        Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

        Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

        Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

        Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

        Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

        Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

        Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

        Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

        Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

        Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

        Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

        Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

        Trending Tags

        • Yes We Can
          • All
          • Persons with disability
          • Sheroes of Africa
          • Super Teens
          • Wonder Kids
          • Young Achievers
          Nigerian Couple Make History by Qualifying for Paralympics Games

          Nigerian Couple Make History by Qualifying for Paralympics Games

          The Young Tennis Sensation’s Triumph at the US Open and Beyond

          The Young Tennis Sensation’s Triumph at the US Open and Beyond

          Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

          Former Nigerian U17 Goalkeeper graduates with a First Class degree in Psychology from the University of East London.

          Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

          Meet the First Visually Impaired person to Earn PhD at the University of Ibadan

          Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

          Josiah Johnson, the 13-Year-Old Without Legs, wins place on school’s basketball team and is now star player

          Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

          Child Prodigies – Alana, Aniyah & Adina Williams enter honors college at age 13, 14, & 15

          Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

          Miona Short: Pioneering Astrophysics Graduate at University of Wisconsin-Madison Ventures into Beauty Entrepreneurship

          Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

          Nigerian Trailblazers: Introducing the Makinde Sisters, who are all Pilots, following their dad’s footsteps

          Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

          Meet Anita Bennett: The 14-Year-Old Black Girl Who Earned Three College Degrees Before Finishing High School

          Trending Tags

          No Result
          View All Result
          Rising Africa
          No Result
          View All Result

          Seven myths about doing business in sub-Saharan Africa

          August 13, 2015
          in Awards, Scholarships and Opportunities
          Reading Time: 4 mins read
          0 0
          0

          Despite sub-Saharan Africa being higher on the agenda for western executives, there remains many misconceptions about operating in the region. So argues Anna Rosenberg, head of Frontier Strategy Group’s Sub-Saharan Africa Research practice. In a recent webcast she discussed seven of the most powerful myths that skew companies’ perceptions of doing business in sub-Saharan Africa. Below are the main takeaways.
          1. There is no competitive urgency to build a presence in sub-Saharan Africa
          Many executives still believe they can secure first-mover advantage in African countries. This is incorrect, according to Rosenberg: “There is already very tough competition from western companies, as well as from emerging markets players and African companies.”
          She says companies can’t afford to wait any longer with their expansion strategies. “Executives have to overcome corporate objections by educating their home offices on the opportunities within sub-Saharan Africa, and most importantly the long-term drivers of growth. And they have to emphasise the success stories of other international and local companies…”
          2. Sub-Saharan Africa’s growth is all about consumers and commodities
          Sub-Saharan Africa’s economic drivers are evolving and creating strong demand for new products and services across economic sectors. Rosenberg highlights consumer and government spending, foreign investment, infrastructure growth and technological advancements as some of the main drivers shaping the region’s economies.
          “Every country is going to follow a different path… And what it means is that each country will have a different set of demands and needs. So for example, let’s look at Ethiopia. That country benefits from a lot of power and a very cheap labour force. So eventually that country is going to become a manufacturing hub and that means that industrial companies will probably be quite successful selling there.”
          3. Fast economic growth equals quick returns
          “What is often underestimated is that Africa’s growth story is a long term game, it stretches over many years… Generating immediate returns is difficult because of the costs of operating locally.”
          Rosenberg advises companies to hire staff locally and have managers on the ground. And to eventually start manufacturing domestically to reduce costs and address supply chain issues.
          She highlights General Electric as a company with a long-term investment horizon that is today reaping the rewards. “They advise governments at very early stages of development to shape their development strategies as these governments design master plans for infrastructure and healthcare. And this then leads to demand for their products. For example, they advise them on railway infrastructure – that then leads to demand for GE trains. They advise them on healthcare infrastructure – that leads to demand for medical devices. So that strategy has really already proven successful for the company, but of course it requires upfront investment.”
          4. Sub-Saharan Africa is too volatile and unpredictable for my business
          African countries are not necessarily less stable than other emerging markets, according to Rosenberg. There are also large variations between markets within the region – some are stable while others are more volatile. However, “it’s critical that companies differentiate between real and perceived risks – and don’t let perceived risks or short-term issues derail their long-term investment strategies”.
          She urges companies to be less reactive to negative events (such as the Ebola crisis or terror attacks) that may not impact their business directly. There will always be instances of volatility and unpredictability, but instead of overhauling the company’s long-term strategies, management should rather adjust their short-term plans to deal with these disruptions.
          5. A standard approach to market prioritisation will suffice in sub-Saharan Africa
          Many types of industry-specific data don’t really exist in sub-Saharan Africa, making it difficult for companies to pick the right markets to invest in.
          “Let’s assume you want to sell toothbrushes in a market. Even if you would have data that shows you how many toothbrushes are currently being sold… this data wouldn’t give you an indication of how many more people will start to use toothbrushes as consumers get more health aware and start to use toothbrushes more regularly,” explains Rosenberg.
          “So the market size in sub-Saharan Africa is not only about what is currently being sold, but about the market potential that you can create for your business. So as a result it is critical that companies combine macroeconomic indicators with proxy data… and most importantly, and I can’t stress this enough, qualitative insights.”
          6. Relying solely on distributors is a sustainable Africa strategy
          For many executives it is common practice to first test the market potential through a distributor before committing significant resources. But the problem with this strategy, according to Rosenberg, is that it can only be effective for a short period because when it comes to opaque markets, local insights could make the difference between success and failure.
          Companies need to have feet on the ground in their most critical African markets. Local representatives need to foster and manage close relationships with distributors, which can lead to better treatment of a company’s products and more effective service from them overall.
          Another benefit from having local representatives is that it demonstrates market commitment, and as a result the company gains customer loyalty. Having local teams in sub-Saharan Africa also means companies can respond more rapidly to changing market realities.
          7. South Africa is the natural hub from which to manage a sub-Saharan Africa business
          Many multinationals base their African head office in South Africa. But Rosenberg says this is not always the best strategy as South Africa is relatively far from the most important markets in sub-Saharan Africa. In terms of kilometres, London is nearly as far away from Nigeria, as Nigeria is from South Africa.
          She suggests, instead of defaulting to South Africa as a sub-Saharan business hub, companies must ask themselves: ‘Where do we need to be local’. “And generally companies need to be much closer to their priority markets if they want to sell locally. So if you want to sell into Nigeria, forget about South Africa, you need to be there. If you want to be in Kenya, you need to be there, you can’t do that via South Africa.”
          credit – howwemadeitinafrica.com

          Popular Stories on Rising Africa now
          Nigerian girl in Texas earns 6.9 GPA, becomes first black valedictorian in school’s 125-year history
          14-year-old girl gains admission to University of Malawi, set to become a doctor at the age of 19
          18-year-old girl wins best graduating student award in high school, bags $4.5m scholarship to study in 113 US universities

          Previous Post

          The African Child Poem by Eku McGred

          Next Post

          Ten tips for entrepreneurs to attract investors and secure funding

          Related Posts

          Call for Applications – Climate Mobility Pavilion Youth Delegate Programme at COP28 in Dubai, UAE (Fully Funded)
          Awards, Scholarships and Opportunities

          Call for Applications – Climate Mobility Pavilion Youth Delegate Programme at COP28 in Dubai, UAE (Fully Funded)

          September 24, 2023
          Chevening Oxford Centre for Islamic Studies Fellowship (OCIS) and OCIS Abdullah Gül Fellowship (Fully Funded for Study in the UK)
          Awards, Scholarships and Opportunities

          Chevening Oxford Centre for Islamic Studies Fellowship (OCIS) and OCIS Abdullah Gül Fellowship (Fully Funded for Study in the UK)

          September 24, 2023
          Chevening UK Government Scholarships Programme 2024 for Study in the United Kingdom (Fully Funded)
          Awards, Scholarships and Opportunities

          Chevening UK Government Scholarships Programme 2024 for Study in the United Kingdom (Fully Funded)

          September 23, 2023
          Applications are now open for Global Citizen Fellowship Program 2023/2024 for young advocates.
          Awards, Scholarships and Opportunities

          Applications are now open for Global Citizen Fellowship Program 2023/2024 for young advocates.

          September 22, 2023
          Node Eight and Junior Achievement Ghana Google Career Certificate Scholarship Program (Ghana)
          Awards, Scholarships and Opportunities

          Node Eight and Junior Achievement Ghana Google Career Certificate Scholarship Program (Ghana)

          September 22, 2023
          UBA Foundation 2023 National Essay Competition for Nigerian senior secondary students (10.5 Million Naira in educational grant)
          Awards, Scholarships and Opportunities

          UBA Foundation 2023 National Essay Competition for Nigerian senior secondary students (10.5 Million Naira in educational grant)

          September 22, 2023
          Next Post
          Corporate reputation: Build it, guard it, gain from it

          Ten tips for entrepreneurs to attract investors and secure funding

          10 Most Mineral-Rich Countries In Africa

          Mabou Loiseau, Extraordinary 8-year-old Genius Speaks 8 Languages & Plays 8 Instruments

          Mabou Loiseau, Extraordinary 8-year-old Genius Speaks 8 Languages & Plays 8 Instruments

          Currently Playing





          Follow us on Facebook

          Donate to Support Rising Africa


          Telling the African Success Story. Connecting Africa to amazing life-changing opportunities.
          Africa is Rising!

          Donate to Support Rising Africa

          • About Us
          • Terms of Use
          • Privacy Policy

          © 2023 - Rising Africa Inspired by Next Innovation Africa Ltd

          No Result
          View All Result
          • Home
          • Success Stories
          • Opportunities for Africa
          • Regions
          • Yes We Can

          © 2023 - Rising Africa Inspired by Next Innovation Africa Ltd

          Welcome Back!

          Login to your account below

          Forgotten Password?

          Retrieve your password

          Please enter your username or email address to reset your password.

          Log In
          Cleantalk Pixel