The Definitive Guide to Doing Business in Africa
For global and Africa-based companies looking to access new growth markets, Africa offers exciting opportunities to build large, profitable businesses. Its population is young, fast-growing, and increasingly urbanized--while rapid technology adoption makes the continent a fertile arena for innovation. But Africa's business environment remains poorly understood; it's known to many executives in the West only by its reputation for complexity, conflict, and corruption.
Africa's Business Revolution provides the inside story on business in Africa and its future growth prospects and helps executives understand and seize the opportunities for building profitable, sustainable enterprises. From senior leaders in McKinsey's African offices and a leading executive on the continent, this book draws on in-depth proprietary research by the McKinsey Global Institute as well as McKinsey's extensive experience advising corporate and government leaders across Africa. Brimming with company case studies and exclusive interviews with some of Africa's most prominent executives, this book comes to life with the vibrant stories of those who have navigated the many twists and turns on the road to building successful businesses on the continent.
Combining an unrivalled fact base with expert advice on shaping and executing an Africa growth strategy, this book is required reading for global business executives looking to expand their existing operations in Africa--and for those seeking a road map to access this vast, untapped market for the first time.
In this guide to doing business in Africa, McKinsey consultants Leke, Chironga, and Desvaux enthusiastically convey the sheer adventure of navigating the continent's markets. They contend that Africa, long dismissed in Western business circles as too risky or undeveloped, presents the intrepid investor with vast opportunities: a population of 1.2 billion projected to double in the next three decades, substantial and unfulfilled needs for goods and services, a huge landmass with corresponding natural resources, and accelerating economic growth. Moreover, they observe, while the West debates taking the plunge, Chinese businesses have already jumped in. To make their case, the authors present attention-grabbing tales of how firms have forged ingenious and thrifty business solutions. Startup M-Kopa developed a solar-powered electricity generator and made it available for a $30 deposit, allowing customers to jettison widely used but inferior energy sources such as kerosene and batteries. Digital transaction company Interswitch's founder noted the piles of cash Nigerians used for everyday purchases and built Nigeria's electronic banking infrastructure from scratch. This is a truly disruptive book, suggesting that today's ambitious entrepreneurs look not to space or silicon but to the savannah.
This is one of the best business books I have read in recent times. The insights are useful for MNCs and SMEs alike. I am ready to forge forward in this endeavor now. I have made several attempts to venture into Africa, but always backing out due to many of the challenges you succinctly articulated. Reading about many of the experiences and understanding how the successful front runners were able to navigate the supposedly dead ends, has given me a renewed vigor and vitality to start the pursuit again. I hope this time next year, I will be able to proffer additional insights based on my new lens to successfully navigate the African business environment. Thank you.