Boston, Massachusetts, USA - Challenges and Strategies of Entering and Expanding in Africa
Africa’s potential for economic expansion is well documented. Among other things, it offers opportunities for manufacturers of consumer productslooking for new opportunities for growth. However, entering the African market has significant challenges that if not tackled head on may lead to great frustration and even loss of business.When Africa is compared to other emerging markets, investors are still in the early days of understanding, prioritizing, exploring and taking advantage of the opportunity. With guidance from experts like Boston Analytics, it is possible to enter the African market and succeed, but only through new adaptive models which take into consideration the nuances of the different countries.
“While the challenges of working in Africa are well known and many are common to those found in other emerging markets around the world, the strategies firms have used to overcome these challenges are less well known and can serve as an inspiration for others,” says Kimberlee Luce, Senior Vice President at Boston Analytics.
Boston Analytics has published a new whitepaper highlighting the strategies which consumer facing firms have used in order to overcome some of the challenges they face while entering and expanding in Africa. The paper addresses environmental, market and business-related challenges which must be addressed in order to effectively grow in African markets. Furthermore, it begins at the continental level, and then moves quickly to regional and country-specific insights. The paper is great for those who aspire to grow Africa, but lack visibility into the prevailing market conditions, competitors and distribution networks associated with these opportunities.
“Africa is an extremely diverse continent. The idea of having a pan-Africa strategy is misleading and unrealistic. While there are a few regional opportunities, for the most part opportunities should be considered country by country, if not city by city,” says Kimberlee Luce.
In its paper, Boston Analytics presents a set of very specific, tangible and replicable strategies that have been used to overcome the challenges faced when entering the African market. The reader will be left with a range of possibilities to consider when honing their own strategies, and the comfort of knowing these challenges can be overcome. Africa presents investors with an opportunity to enjoy a first mover advantage: an opportunity that is not available for most product categories in other emerging markets any more, but only with careful foresight.
About Boston Analytics
Boston Analytics’ Market Entry and Growth Practice applies multiple research and analytical techniques in order to gather, triangulate, and analyze data. It serves Fortune 1000 clients primarily based in the US and Western Europe. The company has an experienced team that provides objective, well-researched insights regarding the opportunities and risks associated with emerging markets and their business strategy implications for clients. Their resourcefulness in gathering data and passion for developing logical and defensible conclusions are their core strengths.
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