We are doing a series on Overcoming common challenges when creating your Africa strategy and, in this section, we will be tackling the problem of lack of information.
You can read the previous articles here.
Lack of information
The primary challenge businesses face in formulating an effective Africa strategy is the lack of information. The continent’s size makes it challenging to discern where to concentrate efforts. Many markets lack readily available data, and obtaining business insights may require interviews and on-site visits. Securing accurate and relevant information about Africa is pivotal for businesses seeking success in diverse markets.
We recommend a series of steps.
- The first one involves engaging local teams and consultants with in-depth knowledge of the specific regions of interest. This on-the-ground presence allows for collecting real-time data and insights that may not be readily available through secondary sources.
- Leveraging reputable databases, industry reports, and market studies tailored to individual countries further enriches the understanding of local dynamics. africon recommends that you also check ABiQ which provides validated, verified business intelligence covering Africa.
- Collaborating with local experts and stakeholders, attending industry-specific events, and actively participating in relevant networks are valuable strategies to gain firsthand information.
This multifaceted approach ensures businesses access the right information, empowering them to make informed decisions.
At africon, we bridge this information gap with our dedicated local teams on the ground. Our decade-long experience allows us to leverage extensive networks and local know-how, ensuring clients receive accurate, first-hand insights. Our commitment to providing up-to-date, locally confirmed data empowers businesses with the correct approach to navigating the intricacies of African markets.
In the next article, we will focus on the problem of finding reliable partners.
