Sub-Saharan economies a lifeline for struggling global firms
INDUSTRY| Aug. 30, 2012, 2:06 p.m.
The UK, Eurozone and US economies are facing surprising competition from an unexpected source, according to research carried out by Kenyan Africa Trade Partners.
With record numbers of small businesses failing to make ends meet and average household incomes falling, firms could fare better by favouring any one of the emerging economies in Africa over traditional expansion targets, says the trade expert.While Asia has traditionally led the way when it comes to economic growth, Africa's economy is forecasted to grow at an annual average rate of 7% for the next 20 years - edging out the likes of China, India and Brazil. This makes countries like Kenya, Tanzania, Nigeria and Ghana fertile breeding grounds for business development.
AfricaTradePartners provides partnership arrangements for businesses seeking new ways to grow and energizes their bottom line. It has created an organic network of experts residing in different parts of Africa. With far-reaching knowledge and useful contacts, the AfricaTradePartners team provides practical assistance for businesses embarking on an expansion into the fast growing African market. Partners include experts in marketing, communications, technology, recruitment, strategy, taxes, risk, as well as business solutions.
According to the organisation, a savvy mentor that can smooth the often tricky path of expanding a business into Africa, the Kenya-headquartered firm project manages every aspect of the expansion, from setting up franchises and securing distribution channels for products and services to brokering partnership agreements. John Keyton, Communications Manager says: "Africa represents a world of opportunities for all businesses thanks to a significant and sustained improvement in the quality of living, infrastructure and urbanisation in recent years. The number of rising cities and the spending power of the middle class are at unprecedented levels, making the region a viable channel for successful and profitable operations."
The service has already helped a number of firms to invest in existing African enterprises and set up brand new ventures in countries like Kenya and Tanzania. Rather than maintaining a hands-off approach, it gets actively involved with clients looking to distribute their product in Africa, providing a partnering service to get new products into the market, source distributors and help open up franchises.
AfricaTradePartners' most popular arrangements are its sole distributorship and franchising agreements. It helps newcomers to the market to develop strategic business plans that fully consider local working conditions, all applicable laws, resources and opportunities. AfricaTradePartners research, strategise, negotiate, analyse and start-up franchise operations, significantly reducing the burden of internationalisation for the manufacturer, supplier or franchise owner.
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