When companies consider what it means to do business in Africa, the answer is often “it’s complex.” But as a continent on the move, Africa has huge growth potential, motivating us to dig deeper into this complex region that has so much to offer.
Complexities for the region continue to be driven by a lack of, and inconsistencies in, its infrastructure – be it the electrical supply, telephone lines, transportation networks, quality education and training, high unemployment figures or challenging government regulations. The recent and drastic reduction in the price of oil and gas has also created an increasing economic burden for countries with oil and gas dependencies (such as Nigeria and Angola) and businesses invested there.
Since the possibilities in Africa are enormous for so many industries and businesses, and visible progress continues to be made, these complexities must become part of the strategy. Companies are looking to manage the variables that they can, and better anticipate the variables that they can’t control.