Africa is a continent of many languages, religions, and ethnic cultures; not all of them living in harmony. Like most emerging economic regions doing business in Africa can be a challenge for American investors or entrepreneurs. Due to some nations' potential for political unrest and bureaucratic corruption, along with possible fragile physical and economic infrastructures, African consulting services are needed.
On the positive side, according to the World Bank, growing regional economies along with the new emerging democracies are improving the economic climate in Africa. Investor and business protection is being more adequately enforced, and bureaucratic complications are being simplified making doing business easier within the continent.
Regardless of positive economic climate changes, when doing business in Africa, problems may still arise including:
As a foreign investor or entrepreneur entering an emerging marketplace, you will need to find the right guidance to protect your business interests.
Get African consulting information and protections from U.S. government agencies
Much Africa business consulting information along with protection sources come from agencies that include the U.S. Chamber of Commerce, the Department of Commerce, and the Library of Congress.
I recommend: There are offices of the U.S. Chamber of Commerce throughout
Africa. They specifically service American companies doing business with African companies and government agencies.
The Library of Congress offers an extensive contact list of region-specific Africa business consulting associations. The Department of Commerce's
Export.gov website offers many services for American entrepreneurs venturing in markets abroad, including Africa. Most notable is their
market entry matching service, where American entrepreneurs are matched with quality African business partners. Also on the Export.gov website, there's a list of
contact links to Africa consultants with knowledge of the export market.
Get specific advice and protections from established African consulting international institutions
International banks and other financial institutions servicing the African economy may be prime resources for Americans investing or business ventures in Africa.
I recommend: The World Bank offers a wealth of Africa-specific information and African consulting services. Their
"Doing Business in Africa" Report is a good starting point for African market newcomers. The World Bank sponsors small and medium-sized business
advisory services, including
the International Finance Corporation's (IFC) Advisory Service aimed at the Sub-Saharan Africa market. It also sponsors its (PSLO)
Private Sector Liaison Officers Network (PDF) throughout Africa. They act as business intermediaries. Also a member of the World Bank Group, MIGA (Multi Investment Guarantee Agency) offers bonds, loans, and (maybe most important) guarantees to entrepreneurs entering the African marketplace.
MIGA's guarantees offer protection to businesses and investors against currency transfer restrictions, breach of contract, business expropriations, along with war and civil unrest. You can
apply for a guarantee at MIGA's website.
Find directories that contain quality Africa consulting information
Note that, when entering a new marketplace in an emerging nation, take appropriate precautions when dealing with commercial trade consulting services. As with any business transaction conducted anywhere, let the buyer beware.
I recommend: The Sub-Saharan Africa-Asia Business Directory was created as a joint effort between the World Bank and the government of Japan. At the website, you can search for recommended regional or country-specific Africa consultants and international services.
The Federation of International Trade Associations (FITA) is one of the largest online resources for international trade information. At the website, there's a
directory of Africa-specific trade associations and businesses.
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