Africa’s Emerging Markets: How to Export From Africa to the Rest of the World

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Emerging markets are the fastest-growing, most dynamic markets in the world. With a combined population of 1.2 billion people, Africa’s emerging markets represent a huge opportunity for companies looking to grow their business. There are many opportunities for businesses selling to consumers in African emerging markets, such as e-commerce, travel and hospitality, and everyday products like food and beverages. According to McKinsey & Company, the total value of Africa’s consumer market will double from $500 billion today to $1 trillion by 2020. We have put together this guide on how you can export from Africa to the rest of the world. It covers everything you need know about exporting from Africa: what emerging markets are, why they’re important, which ones you should target, how to find customers there, and where best to register your company so that it’s easy for potential partners or investors to find you.

What are Africa’s Emerging Markets?

Emerging markets are countries that have a middle-class population that is expanding fast, and a growing economy. In other words, they’re on the cusp of becoming fully-fledged developed economies. They have a large, young population, and lots of growth potential. These countries have the potential to become globally significant markets. They have the scale and potential to be as significant as China and India in the near-future.

Why Are Emerging Markets Important for Exporters?

The emerging markets are home to about 70% of the world’s population and account for about 60% of global GDP. This means that the emerging markets are both huge in their own right and also represent a huge opportunity for companies looking to grow their business. Companies that can crack the emerging markets have a huge leg up on the competition, especially when compared to companies from developed countries that often face significant barriers to entry in these markets.

Which African Emerging Markets Should You Target?

You have a range of options when it comes to which African emerging markets you target. Some factors to consider include the size of the market, its growth potential, and its proximity to your home country or existing market. Here are some examples of top African emerging markets to target: East Africa – East Africa has the largest economy of any of the African regions. It is a vibrant and growing market that includes countries like Kenya, Tanzania, and Uganda. East Africa is a great place to target if you’re looking to serve the whole region. Southern Africa – Southern Africa is the second most affluent region in Africa. In particular, South Africa is the largest economy in southern Africa and one of the top 10 economies in the world. If you’re looking to serve just southern Africa, it’s a great place to focus your efforts. West Africa – West Africa is the third-largest region in terms of population size in Africa. It’s a great place to target if you want to serve just a single country. Nigeria and Ghana stand out as two of the largest economies in West Africa.

How to Export From Africa to the Rest of the World?

The most important thing to do when you want to export from Africa to the rest of the world is to choose the right market. You need to pick a target market where there’s a large, growing middle class with purchasing power and a need or desire for the product or service that you’re selling. Once you’ve identified an appropriate market, you’ll want to find out where your target customers are and how they shop. This will help you figure out the best way to reach them. You can use a variety of tools like online marketplaces and apps, local newspapers, social media, or even cold calling to get your goods or services in front of potential customers. Once you’ve made initial contact with customers, it will be up to you to build trust and make a sale.

Registering your Company to Export From Africa

When you’re ready to export from Africa to the rest of the world, you’ll need to choose a jurisdiction to register your company. There are plenty of choices, including well-established business hotspots like Hong Kong, Singapore, and London. You can also register your company in one of Africa’s emerging markets. The key to choosing a jurisdiction for your company is to select a place where you can easily do business with other parts of the world. You want to pick a jurisdiction that is welcoming to outsiders, has a business-friendly reputation, and is easy to navigate. Be sure to do your research and pick a place that has the right infrastructure to support your business. You’ll also want to choose a place where it’s easy to get visas and where your staff will feel welcome and safe.

Conclusion

Exporting from Africa has the potential to open up a vast new market for your business. The best way to get started is to first identify the most promising markets and then to pick the best strategy to target those markets. You’ll want to consider a range of factors, including the size of the market and its growth potential, the proximity to your home country or existing market, and the infrastructure available in each market. When you’re ready to export from Africa to the rest of the world, you’ll need to choose a jurisdiction to register your company. There are plenty of choices, including well-established business hotspots like Hong Kong, Singapore, and London. You can also register your company in one of Africa’s emerging markets.