The first step is to consider both cultural considerations and potential pitfalls.
Linguistic, ethnic and religious diversity makes cultural changes across the continent extreme. Demonstrating passion and interest in the local culture and its nuances is essential, not least to generate trust, but to build loyalty takes time.
Appreciate that Africa is not just a homogeneous market, but 54 countries with 2,000 languages, 521 of which are in Nigeria alone.
Africa’s current total population of 1.2 billion people is young: South of the Sahara, their average age is under 25 in all countries except South Africa.
Going forward, the continent will account for about 50% of the world’s population growth between now and 2050, predicts PricewaterhouseCoopers.
Africa’s middle classes are already growing rapidly, with one in three people now believed to be living above the poverty line, even if not among the wealthy. Meanwhile, the staggering 1.1 billion – around 42% of the continent’s population – is projected to reach middle-class status by 2060.
Of the 54 African countries, South Africa is still considered the continent’s first powerhouse and a gateway to many other African countries. But with 173.6 million citizens growing their GDP by 200% in just ten years, Nigeria is regarded as Africa’s new power actor.
FROM WEB (Romano Pisciotti)