Sunday, 5 October 2014

10 Advices to Investors (potential) in Africa

Doing business in Africa is becoming a lot easier these days than decades ago. The investment climate is going better and optimistic, thanks partly to technology and efforts of governments and private actors across the world. If you decide to face the challenges of doing business and become part of the success in the continent, Africa is awaiting to give you a hug .

To make the transition even easier and the return on investment effective and, of course, avoid failure, thus; investors are, still,  required to handle the points I mentioned, from my personal experience, hereunder more carefully as a quick fix.

  1. Accept the local norm and act  instead of complaining,
  2. Follow up appointments and schedules more seriously and closely than you do in your country or anywhere else
  3. If you have any affair with local public and private companies, apply the top down communication approach, most often.
  4. Respect the local communities, way of living , culture, religion etc.,
  5. Train your local staff until you make sure everyone is brainstormed enough to your standard,
  6. Communicate formally, always, and consider/expect laborious and time taking steps,
  7. Involve the locals in the decision making and reward them when they meet the target, not just only for the routine staff only.
  8. You may encounter lengthy and vague procedures and at times irrelevant formalities. Just fulfill. If you try to question the logic, you kill your time.
  9. Always remember you are in Africa,
  10. If you feel angry, in any way, sip three cups of coffee, and lower your temper.
  • Have success in Africa!