A TemplateAccess.com Theme

Advice on Doing Business in Africa

For most small business owners, the cultural and distance barriers involved in doing business with Africa seem insurmountable. Why is it worth their while to investigate the possibilities?

There's a great deal of negative publicity surrounding Africa, and that tends to be all that people hear. But in reality there are 53 countries on the continent and in many of them, there are an enormous amount of positive things happening. There are extraordinarily promising possibilities in agribusiness, infrastructure, and tourism.

A lot of that negative publicity that you mentioned involves war, natural disaster, and governments steeped in corruption. Those don't seem like ideal business conditions.

Well, the charge of corruption is valid in some countries. But you have to remember that there are disasters and corruption all over the world, including in South America and North America. That doesn't preclude us doing business there.

Which African countries offer the most promise for business exchanges?

The best possibilities are in the southern half of the continent, countries like Mozambique, South Africa, Mauritius, and Namibia. Ghana has enormous potential in its ports, fisheries, and tourism, as does Botswana.

What about younger democracies, such as Liberia and Nigeria?

Liberia's new woman president [Ellen Johnson Sirleaf] organized her campaign partly out of our offices. The country is very open to American business, but it's quite tough to start from ground zero. Everything in that country has been destroyed and financing would be a challenge there. Nigeria is also a booming market where a lot of new things are happening, but it's a tough place to do business and you really have to know your partners.

Another area doing surprisingly well, by the way, are the Sub-Saharan countries of Burkina Faso and Mali. They get high marks for business development, but they are French-speaking so often the trade there gravitates to France.

You can participate in the programme as a new entrepreneur as long as your business activities are in their early stages.
This includes:
• "Would-be" entrepreneurs, who are firmly planning to start a business based on a viable business plan;
• Entrepreneurs who have started their own business within the last 3 years.
The business can be in any sector.
As a prospective new entrepreneur, you must also meet the following criteria:
• Be a permanent resident in one of the listed African countries;
• Have a concrete project or business idea, reflected in a business plan;
• Clearly demonstrate your motivation and commitment to engage in a working relationship with an experienced entrepreneur from USA;
• Be prepared to contribute to the development of the host entrepreneur's business and make available your skills and competences;
• Be ready to raise additional funds to cover the costs of the stay abroad if these exceed the Provided Funding.
• Be ready to pay a minimum fee for your application form.

Active participation in the IBA Young Entrepreneurs programme offers aspiring new entrepreneurs the chance to experience a wide range of benefits:
• Up to six weeks stay with a successful and experienced entrepreneur in USA to gain relevant business start-up knowledge in a wide range of areas such as marketing, financial accounting, customer relations, business finance etc. ;
• Practical and financial assistance such as issuing contracts, induction courses before the exchange, logistical and local support during the stay, and a grant covering the travel and subsistence costs during the stay abroad;
• Membership of an international business Academy network of successful entrepreneurs;
• Possible opportunities for collaboration and the development of cross-border business co-operation;
• Insights into different cultural and organisational settings and how companies function in different countries;
• Improved language skills;
• Understanding the regulatory framework in another country.