In a couple of e-mails I recently received I was asked for ‘the best places’ to do business in Africa. The answer is actually not that straight forward. I think it is important that you choose one of the continent’s current growth countries, because you will find a great deal of dynamic, entrepreneurial spirit, enabling trends and environments in those locations. But these are just the basics. Which country or city to choose as your ideal base will depend on many factors, and it should in particular depend on your industry.
But here are some news:
If your business model is greatly depending on urbanization and the particular needs and demands that arise in Africa’s cities, then today’s article may be of interest to you, because it will feature the fastest growing cities.
I believe that it is of great value to be aware of this market trend when targeting Africa’s city population. And it is expected to be a trend for the long term, so make sure you consider that when choosing your base.
So let’s have a look.
In a new report by the African Development Bank ‘Tracking Africa’s Growth in Figures’ (2014) the fastest growing cities in Africa have been revealed, and I cut out those that were growing around 50% or more (after that was a big gap in the list, growth being around 20% and less).
Dar es Salaam, Nairobi, Kinshasa, Luanda, and Addis Ababa are the 5 fastest growing African cities.
The top two are situated in the East African Trade region, which once more is an important indicator for the growing significance of that region for those who want to do business in Africa.
Three of the fastest growing cities are based in Nigeria, which is already home to Africa’s largest population.
But looking at these staggering growth rates on the list just makes it again so obvious: It is very unlikely that supply can meet the fast growing demand fast enough. And this is why Africa and in particular these cities outlined here-under offer vast opportunities and an amazing space for you to build and grow your business faster than elsewhere.
Here are a few business tips and trends for you regarding the above list:
Fast growing Kinshasa handles most of its import and export through Dar es Selaam, which is the fasted growing city and port serving many other countries in the region. A transport and logistics business in Dares Selaam or even Kinshasa will certainly grow fast, so give it a thought!
Import and export interactions and services will be a rapid growing trend in all these cities, but be aware of the regulations. Angola has made import more difficult and most new comers won’t be able anymore to simply get a licence. Export is supported by most governments in those countries above, but currently most vividly promoted by Ethiopia.
Cote d’Ivoire, Nigeria, Ethiopia, and Angola are the four countries on the list that give the most emphasis on developing the agricultural sector. It is a very visibly driven government agenda, so you should definitely consider the four for related business. However, be aware that the enabling business environment belongs to the more difficult in Africa, so it won’t be for the faint-hearted.
Nairobi and Accra are among Africa’s hot spots for property development and real estate and currently enjoy a good reputation among investors. If you are thinking about setting up a related business, keep these two fastest growing African cities in mind!
Renewable energy and solar business would work in all cities and countries. In Dar es Selaam however you will face competition from the renowned Tanzanian lead market leader Helvetic Group. There is a growing and almost public discontent in Nigeria’s cities about the long power cuts, and Ethiopians seem among the most aware and receptive as multiple renewable energy projects are promoted and implemented across the country.
Nairobi and Lagos are business and financial hot spots, so if you are thinking of providing related business services these two are important to consider. However, depending on the type of service you are providing you may already find a fair amount of competition, therefore I would equally consider the other cities on the rise. They will all provide ample opportunity to build your b2b operations.
Please share your personal business insights on any of the cities on the list. Let’s hear from people who are or have been there!
And still. Let’s be defined what dosage in this case approaches most of all. There can be it cialis 20mg or something another. To me I think it isn’t necessary to choose for you necessary. Think. Perhaps suits you cialis 20 mg It is much better.
Latest posts by Dr. Harnet (see all)
- GHANA: A List Of Profitable African Business Opportunities You Can Start Now - May 29, 2017
- How to sell African products online…in Ethiopia! - February 14, 2017
- 5 Mistakes: This Increases Your Business Failure In Africa - January 24, 2017