5 ways to expand your business in Africa despite Covid-19
With the resurgence of new potential lockdowns across the world, the year 2020 has been a challenge for everybody and halted efforts of companies to expand.
Whilst one can understand the need to regroup, examples of companies that have successfully adapted their market showed that having a strong strategy for growth is key.
With its large consumer markets, Africa has attracted many companies before Covid-19 in search of growth opportunities. With the current situation, is Africa still a destination of choice for growth opportunities?
The continent has shown enormous resilience during 2020 and showed its ability to cope with the virus. Perspectives for foreign companies in Africa remain high and opportunities are still plenty. Nevertheless, how do you continue expanding into Africa with no possibility for travelling?
We look into 5 ways you can grow your business in Africa without travelling
Hiring a local manager or business developer is a great way to enter a market. Your employee can achieve the following without for you the need to travel:
- Representing your business on the ground
- Explore business opportunities on your behalf
- Visit partners and find local suppliers
With the increasing demand for highly skilled individuals and the return of the diaspora, the job market has never been so dynamic. You can outsource your HR needs and get the support from Professional employer organisations.
As you are progressing on your export project, you will probably need the services of a lawyer at some point. In Africa, lawyers have a central role. They do not only provide legal services but they are also providers of opportunities. As they are constantly networking, they are at the forefront of business opportunities and can be a great source of information.
3. Register your company with local trade organisations
If you are looking to supply your services, make yourself known to local organisations in charge of supporting foreign companies such as high commissions and local trade agencies. You will be able to register your company, search their database for opportunities and be contacted by local companies if they are in need of foreign partners.
4. Contact the local chamber of commerce
To some extent, being part of a chamber of commerce may seem outdated. Nevertheless, chambers of commerce are always on the lookout for new projects, fostering business relationships and enabling companies to connect with new partners. As it comes to Africa, being part of a local chamber of commerce is also a positive sign of the integration of your local partner into the business community.
5. Become a speaker and showcase your company
With Coronavirus, virtual conferences are everywhere. It has never been so easy to provide value and become a speaker. Speaking engagements are a great way to showcase your business and signal local partners that you are open for business.