The Nigerian Market: Culture’s effect on Business

Culture can be simply defined as a way of life of people in a particular society. In a broad term, culture is a configuration of learned behaviour whose component elements are shared and transmitted by members of a particular community. People from the same cultural background have common trait, ideology, norms, belief, value system, consumption pattern, speak same language and use same currency. Different cultures show a tremendous spectrum of diversity in how a society perceives either a product, idea or service as well as what its members expect.

Africa & Middle East Pharmaceutical Sector Update


South Africa's largest pharmaceutical company, Aspen Pharmacare, realized a 14% increase in revenue (at current rates) from June 2006 ($481 million) to June 2007 ($555 million). Aspen is planning to triple its manufacturing capacity, and has been laying the groundwork necessary to do so. Aspen's total investment in operational production capabilities should reach $137 million in 2008. They began investing in this venture in 2003. Aspen is starting commercial production of its sterile facility in 2H08, apart from upgrading its heritage general facility.