OPPORTUNITIES FOR BRITISH MANUFACTURERS
Growing Bilateral Trade
MANUFACTURING SECTOR IN AFRICA
Manufacturing is one of the main pillars in Africa's growth and development agenda. This has made continues demand for high quality, long lasting, manufactured equipment. Engineering is one of the key realisations for import in Africa. From Mining, Pharmaceutics, Oil and gas sector, through to rail construction, Marine activities, urban development, automotive parts and aerospace sectors, Africa's demand for new and innovative engineering solutions is insatiable.
Africa's dependence on engineering solutions for its continuing development provides an excellent opportunity for UK companies, which enjoy a world class reputation for sophistication, quality, safety and value for money. Some major UK engineering businesses are already present in Africa and there is a clear opportunity for companies at all levels of the supply chain to address the marketplace, in many cases using the established UK presence as a key initial client-base.
OVERVIEW OF AFRICA
Area: 30.37 million km²
Coastline: 30,500 km
Population: 1.216 billion
Markets: 54 (Countries)
Africa is a huge, complex and rewarding continent. When combined the USA, China, India, Europe and Japan - they all fit into the continent of Africa. The US can fit comfortably no less than three times. The UK can fit into Africa over 120 times.
With a population of around 1.216 billion people and a growing middle class, Africa is developing a sophisticated understanding of its place in the new world.
DOING BUSINESS IN AFRICA
Ensuring you understand your individual marketplace in Africa. Testing that market and understanding its dynamics.
Well defined and targeted proposition
Creating a value-proposition which is effective in converting prospects to clients in your marketplace.
Accurate Costings and Risk Management
Understanding all of the costs involved in getting your product into your customer’s hands plus comprehensive risk identification and mitigation planning.
Working with Partners
Local partners and champions are an essential part of doing business in Africa, acting as multipliers to your own work in developing the market.
Relationships – Frequent Consultations
Business in Africa is highly dependent on personal relationships. Visiting is important, more crucially is consulting with trusted partners and reinforcing these relationships frequently, for them to act in your best interest on the ground.
Being appreciative of cultural differences and understanding how to work effectively with clients and partners.