Published on March 11, 2014
Identify priority sectors and countries quickly and set up strong business organisations there. PRIORITISE EARLY Source:McKinsey
Understand local nuances and adapt business models accordingly. Africa is one continent with 55 different countries, each with its own culture, customs and behaviours. GO GRANULAR
Customise approach based on continuous learning. There are no ﬁxed answers to succeed in Africa; hence, companies should be ready for initial disappointments and tune their business model accordingly. EXPECT TO ITERATE
Understand and control the route to market for success in such a fragmented geography. This is a challenge which Indian companies have mastered on the home turf, and must now face in a geographically larger context. CHOOSE DISTRIBUTION CHANNELS CAREFULLY
Source:McKinsey In Africa, brands are considered to be the clinchers in making purchase decisions. Hence, brand building, especially in the consumer goods sector, is critical. BUILD BRANDS AGGRESSIVELY
Source:McKinsey Innovate to meet the entire range of needs as the landscape is still open for brands and whole categories. In the consumer goods sector, Indian companies can meet this challenge with their wide product ranges. DELIVER VALUE ACROSS PRICE SEGMENTS
Business in Africa cannot be built quarter-to-quarter–com- panies must be willing to invest for the long term, spend effort on setting up the business’ roots in the country, and only then achieve success. Source:McKinsey THINK LONG TERM
This is necessary to get local insights, benefit from regulatory know-how and develop relationships. The ultimate aim must be to become the insider. Source:McKinsey INVOLVE LOCALS & INSIDERS AS PARTNERS
Source:McKinsey Governments in most African nations play an important role in business development, and partnering with them is crucial to creating opportunities. PARTNER WITH LOCAL GOVERNMENTS
Source:McKinsey Given the relative lack of local talent, developing talent will play a critical part in scaling up any business, and must be invested in proactively INVEST IN BUILDING LOCAL TALENT
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