African businesses need to keep up with business trends to ensure that their futures are bright and sustainable. Here are some African business trends that we see in 2015.
Utilising Local Products and Adding Value
Using what Africa / African continents have to offer as opposed to importing goods at a higher price, using manufacturing locally to enable the use of local product, therefore generating more money on the continent.
Made in Africa Products
With the African middle class expanding their spending power is increasing rapidly in particular in the consumer product space of fast moving items ie: clothing food and electronics. By creating a space to supply made in Africa products we can create jobs and decrease the need for importing.
African Continental Trade
African Continental trade is growing faster than the export and import rate to the other continents. With this in mind you should look at opportunities and strategies to trade within the African borders. With logistics being much more reliable this also aids in the growth for African trade.
The Powerful Space of E-commerce
With the spread and access to mobile technology across all earing sectors this is THE most powerful and fastest growing area to focus business on. Any individual can access online shopping and the internet. This is the space to focus on. Many African countries are growing in this space as this is one of their major focusses ie: Nigeria and South Africa.
Taking the African Product to the World
This space needs to be evaluated and the regulations need to be considered before going into this sector. Export is encouraged by Governments in Africa. Partnering with other Continental trade companies will aid in this being a smooth and profitable space.
Women in the African Business
This is a fast and often unrecognized trend. Women have a large majority share in the marketing and consumer share of the market. They have the knowledge and know-how of what is needed and desired in this space. This is a powerful tool in any business and will make others sit up and take notice. Many African governments are encouraging this trend to take place. Women are powerful conceptualisers and this is a strategic place in the marketing sector.