Opportunities and Challenges in Africa
International companies are launching products in Africa, developing competitive advantages, and growing at a fast pace.
Market Research and Strategy Consulting can uncover opportunities for your business in Africa. For example, the number of High Net Worth Individuals is on the rise, and many of them gravitate toward the banking hub of Mauritius which has become a financial center of African trade. Countries in Africa have growing populations, and the population of Africa is over 1.2 billion people. Africa has seen major growth in smart phones and mobile device ownership. Rising wages and growing domestic economies mean larger consumer markets in which to launch and position new products.
Low commodity prices and fluctuating global oil prices have negatively affected the African economy recently. China, a major investor in African development, is experiencing economic slowing, as well. The potential spread of Ebola could hurt tourism and transportation interests if it spreads further.
Despite these challenges, much is being done to improve and stabilize governance, and implement social changes in Africa that will make it more attractive to companies. South Africa has the strongest economy on the continent and many companies there are examining the market potential of other African nations.
About Market Research in Africa
SIS International Research has extensive experience in Market Research in Africa. Research methods in Africa tend to be centered on traditional Face-to-Face research due to relatively lower internet penetration rates and other on-the-ground logistical considerations. For this reason, Qualitative Research Face-to-Face methods such as Focus Groups and In-Depth Interviews can be effective. Quantitative sampling can require deep knowledge of the local market, and some studies require sampling from village to village.
Our Market Research and Strategy Consulting studies offer valuable insight into many sectors of business development and examine the potential opportunities that exist. We continually research the pulse of African market dynamics, interact with key purchase decision makers, and regularly examine the demands and attitudes of consumers and companies.