One major concern every foreign investor coming to invest in most African countries is burdened with is the (in)stability of government in the investment destination and the security of investments. Many times, investors have been short changed due to national policies that take away their wealth by the governments of the investment state. An example is what happened in Zimbabwe where every white-owned farm was expropriated by the government.
I was asked recently about how to rejuvenate a business, and my advice was to subtract before adding. Businesses and governments grow organically, like the Nigerian coral reef, adding bits until eventually the accumulation is something new. Unlike the Nigerian coral reef, which is a creation of beauty, businesses and governments become bloated and ugly.
Zimkhitha Mqutheni is MD of Ukhanyiso Communications, Cape Town, South Africa. She also runs a Young Business Leaders Discussion Forum which brings together young entrepreneurs, the Western Cape Government, Transformation and BEE managers and financial institutions that fund small businesses to discuss the challenges faced by young entrepreneurs.
“Hopeless Africa” This was the bold heading of an article released in May of 2000 by ‘The Economist’. The letter told of “floods in Mozambique; threats of famine in Ethiopia (again); mass murder in Uganda; the implosion of Sierra Leone; and a string of wars across the continent.” It went on to say that the new millennium has brought more disaster than hope to Africa.
A seasoned Nigerian businessman and I had a lengthy discussion about the potential merits of an uncertain, expensive investment but possibly lucrative opportunity in a distant country. He seemed excited about the foreign opportunity. Later, I composed and emailed the following parable:
Working with businesses in Nigeria has provided me with a unique opportunity to think about marketing from a different perspective. I’ve picked up quite a few insights and learned a lot along the way.Most Nigerian businesses that I work with believe that you have to spend big bucks to market your business. This is not true! There are plenty of cost affective marketing tactics that you can put in place that won’t blow your budget.
Alfred Loua is Founder of MBCAfrica, Ivory Coast. A certified sales and negotiation consultant from CEGOS International, he is also currently a candidate within the Financial Analyst Specialist Certification (FASC) and the Certified Financial Modeling Specialist (CFMS) program from Finance Training Society Portland, Oregon. Africa Business Communities speaks with him.
Leopold Ebegbuna is MD/CEO of Rising Light Global Company Ltd., Nigeria. Africa Business Communities speaks with him.
Andrew Diack is founder of Cyber Logistics Ltd., Greenstone, Gauteng, South Africa, founded in January 2014.
According to Hubspot, 92% of marketers reported that social media marketing was crucial to the successes of their business in 2014, with 80% indicating their efforts increased traffic to their websites and more revenue for their business. It has equally been reported that 97% of marketers are currently participating in social media.
[Bradford Associates] ICT Reviews Indicate That Policies Pursued by Nigeria Are Positioning the Nation to Be Increasingly Competitive in the 21st Century
You only have to look around you to realize how crucial Information and Communications Technology has become in the modern world.
A new economic world order is emerging at lightening speed. The underlying theme is that the economies we currently call “emerging” are going to dominate global growth over the next three to four decades. What’s exciting is the emergence of parts of Africa right across the continent. Attention will increasingly turn to the ‘new emergers’ as the world economy undergoes a seismic shift.
My name is Chioma Nnani. And I am a storyteller. When I decided to return to Nigeria, after a long sojourn in the United Kingdom, I heard so many things, ranging from the hilariously ridiculous to the painfully amusing. Why?
Jermaine Charles is a Zimbabwean born entrepreneur based in South Africa, where he founded Mzansi Extra Large or ZAXL, a streetwear fashion platform. Jermaine is currently Marketing Manager for Official Merchandise Company South Africa or OMC, a company focused on getting the entertainment industry better branding solutions.
Greg Koch has worked with Winner Hydraulics Africa, South Africa for fifteen years, and for the past six years has held the post of Managing Director. With his strength and background in Sales and Business Development, he is also part owner of the company.
Africa Business Communities is looking for bloggers in or operating in the continent of Africa who are writing about business. We are currently building a team of business bloggers in Africa. Are you a blogger in Africa with insight into the African business climate? Then we might be looking for you.
Glenn Davies is the current Group CEO for Inigmah - VoD & E-Commerce solutions. Glenn has over 15 years in software experience, and now has focused on the Video on Demand, IPTV and e-commerce space. Though born and raised in Sydney, Australia, he set up and established Inigmah out of Singapore, which now has offices located in the US, London and Australia. Inigmah focuses on emerging markets with its major priority as Africa. In the past year Inigmah has recruited more than 40 Inigmah partners across Africa and is now being represented in almost every major country in the continent.
Patrick Chella is Co-Founder of Realty Africa, a platform for property crowd funding for sound investment ideas in Africa. With fifteen years’ experience working in Private Equity, Hedge Fund Services and the Banking sector, eight of those years with NIBC Bank, Netherlands, he founded Realty Africa as an innovative approach to property investment opportunities in Africa.
The countries of Africa, especially the sub Saharan bit, have a terrible history. Many of them were worse off after independence than they had been under their colonial masters. Corruption was and is a normal part of everyday life.
Laura Eboa Songue is a Cameroonian entrepreneur. She co-founded Afropolitan media FASHIZBLACK six years ago. Her experiences in business strategy, marketing, African pop culture and tech startups have culminated in her latest venture, A-listers.org.