When one travels to Africa it is very apparent that there is a growing “middle class”. What defines class? Is it wealth? Income? Consumption? Something good is happening on the continent and companies like Uber can attest to that given their huge success, right behind them Airbnb. With the changing and increased purchasing power and the growth of the middle class on the continent, offers international companies a market where they can scale much faster as well create job opportunities locally.
Africa is DIVERSE what works in Ghana, might not work in Kenya or Mali, because of different cultures, mentalities, purchasing power, traditions etc the African markets are very different and spending habits tends to vary across the continent. Getting it right the first time can be tough, however with right market entry strategies international companies can achieve huge success. Be flexible, open to change, partner with local businesses, have a strong team and success is almost inevitable in this space!
