#Tip 1 – Understand before you execute  

I cannot stress enough the importance of local market knowledge. This goes beyond simply asking an intern to compile GDP data and population spending power for African countries. African markets are nuanced, and your market potential hinges on various factors that cannot be understood through basic Google searches.  

Many companies identify priority countries based on superficial research and conversations with so-called ‘experts,’ then approach these markets as if they were the same as others globally. In my experience, these companies often exit the African market before they truly begin. Why? Because their intelligence efforts fell short.  

Therefore, invest in comprehensive research before making any decisions.   

#Tip 2 – Strategize before signing contracts  

While I believe in taking action over excessive planning, strategizing is essential. Your market entry strategy should be grounded in thorough research, expert discussions, company objectives, and initial market feedback. Setting clear goals and strategies is crucial.  

Your strategy should include achievable milestones for your team. I recommend adopting a conservative approach and allowing the market to surprise you. It’s also important to incorporate “what-if scenarios.” Consider how you would react if situation B changes. This will ensure you remain flexible in responding to market dynamics.  

Keep it simple, but stay aware of potential challenges that may arise.  

#Tip 3 – Build local partnerships  

I cannot stress enough the importance of local content. There’s a saying: “If you want to walk fast, walk alone. If you want to walk far, walk together.” This perfectly captures the essence of a successful market entry—you need local engagement.  

From sourcing a local partner to acquiring a local company and hiring local staff, these actions create immediate value and save you time and money in accessing the market effectively.  

A great example is an FMCG company I worked with in Ghana. Initially, they believed their best approach was to set up their own operations to ensure quality. Instead, they decided to invest in a local distribution firm, which provided immediate market access, years of experience, and established distribution networks. While it was a costly decision, they have since recouped their investment multiple times.  

#Tip 4 – Be flexible and patient  

Flexibility is not just important; it’s essential. Your plans will rarely unfold linearly, and you’ll likely encounter situations you never anticipated during strategy sessions.  

I often say that “Africa humbles you.” You can develop great strategies, but the market will inevitably present unforeseen challenges.  

Another crucial factor is time. Market development takes time. You may experience an initial surge of enthusiasm, followed by a period where contacts go silent, proposals remain unanswered, and doubts about your chosen market arise. Keep pushing forward!  

This is the best advice I can offer: if you’ve done your homework, stay the course. The market will respond, just not necessarily on your timetable.  

#Tip 5 – Dedicate resources, Africa is a long-term commitment  

While reading this, you might be wondering about the resources required. Yes, entering a new market costs money, but following the right steps can save you in the long run.  

The companies I’ve worked with that have succeeded in African markets all had three key elements in place: strong support from their executive team, a clear timeline connected to KPIs, and a dedicated budget. Without these, you’re merely gambling with your efforts.  

I understand that while these tips are valuable, executing your plans can sometimes feel daunting. Don’t worry – I have mastered it. I specialized in guiding and supporting clients. I help you identify your true needs and tackle the challenges of entering the African market.  

No challenge is too small or too big! 

Let’s schedule an initial consultation to explore how I can add value to your plans in Africa.  

Remember, Africa is not a distant opportunity; it’s advancing rapidly, and you don’t want to miss out on its potential.  

Let’s start your investment story on the continent.  

P.S.: : Let me know if you want to really crack on in African markets. Simply drop me an email and we can chat.