5 Tips for Doing Business in Africa

Business

  • Author Abidemi Anofiu
  • Published September 24, 2018
  • Word count 487

Africa is the newest and emerging spot for entrepreneurs and startups. Here are some easiest places in Africa to run a business according to the World Bank’s latest Doing Business report.

But on a basic note, I am talking about doing business in Africa. Most of the times when we are talking about this, it doesn’t matter who you are or where you’re from these 5 tips you need to know if you’re possibly doing business in Africa or taking your business to some other country in Africa.

  1. Research

The first thing to do is your research. Now specifically I’m talking about online research. What are that country’s natural resources? What is your expertise? What do you have to bring to the table to talk about? Talk to the people here. Got to the embassy of the country that, you potentially want to visit and do business in.

  1. Get on the ground

Now you need to get your boots on the ground. This is not the type of country where you are going to just set up a shop and run business, get paid and run it from the United States. This is just not going to happen. You are going to have to run some exploratory trips to the potential country, that you want to start doing business in (Africa).

  1. Be strategic

Look at what people’s position is and how they can help you. Don’t look for permission to submit your ideas when you get face time with the high net worth and highly connected individuals. Give them the proposal, let them know about your area of expertise, your skill and most importantly your experience.

  1. Get head to head to with the CEO

About any particular proposal or idea, get in front of the CEO or the decision maker or the influencer. You will get your work done in the easiest ways. It will reduce your steps of work and the influencer would make out great deals for you.

  1. Africa is Africa

Africa is not the USA, it is not any other country. So keep this in mind that everything can be different here, and no one thing will be the same. So make sure you study

comprehensively about the culture and ethics and norms of Africa and work right on track.

Other than these, there are some small etiquette that you must notice while running your business meetups in Africa, when people realize how often one has to go, Africa, if one doesn't permanently live there, and how open-minded one has to be about doing business in Africa, they think it has to be an African. But it’s not necessary.

• Don't offer gifts with the left hand, use either your right hands or both hands.

• Talk about interesting topics in a meeting like sports or food

• Never rush contracts/agreements

• Do not show impatience

• Maintain eye contact

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