- Colonial divides have kept many African companies from venturing outside of their home headquarters.
- Foreign entities have historically controlled Africa’s commercial industries.
- However, the pursuit of new customers to help sustain growth and home market uncertainty/volatility is pushing more companies outward.
- A 2017 survey found that 66% of African firms plan to enter new countries within the region (McKinsey).
- African giants such as Dangote Group (Nigeria) recently dethroned LafargeHolcim (Swiss) as sub-saharan Africa’s largest cement producer.
- However, political barriers can make cross-border expansion risky.
