Mckinsey shows africa is the world’s next big growth market – investadvocate investadvocate gas tax in ct

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A new book by McKinsey ( https://www.McKinsey.com/) confirms that Africa is poised for economic acceleration, akin to the Asian boom. gas jokes While other geographies are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies, can sustain double-digit profit growth over the next few decades.

In Africa’s Business Revolution: How to Succeed in the World’s Next Big Growth Market (Harvard Business Review Press, November 20, 2018) Acha Leke, Mutsa Chironga, and Georges Desvaux detail the research that McKinsey & Company has done and share insights into Africa’s future growth prospects. The conclusions they draw are distilled from 3,000 McKinsey client engagements, in-depth proprietary research and interviews with 40 of Africa’s most prominent business and development leaders. The authors reveal how companies can better understand the African market and seize the opportunities for building profitable, sustainable businesses.

Africa has a fast-growing, rapidly urbanizing population with big unmet needs. a shell gas station near me This means there is a trillion-dollar opportunity to industrialize Africa, to meet rising domestic demand and create a bridge-head in global export markets. In addition, there has been a big push by governments and the private sector to close infrastructure gaps. There is a continued resource abundance in agriculture, mining, and oil and gas, with innovation and investment in these sectors unlocking new production on the continent. gas constant in atm The rapid adoption of mobile and digital technologies could leapfrog Africa past many obstacles to growth.

“With over 400 African companies earning annual revenues of US$1 billion or more, we can identify what works. grade 6 electricity unit The highly successful businesses are often African companies, but many are entrepreneurial firms with Western, Indian, or Chinese founders. The most consistently profitable businesses demonstrate a higher tolerance for risk, are eager to adapt their products, production and distribution for African consumers, and commit to investing and building their businesses for the long-term.”

The book examines several examples of African businesses that have translated opportunities into enduring business value. For instance, it shows how Nigerian conglomerate, Dangote Industries, industrialised to serve regional markets through import substitution and improved margins through vertical integration. v gashi 2015 South African retail giant, Shoprite, adapted its supply chain and distribution centres for local logistics. SABMiller created products for regional tastes and invested heavily in multiple markets and skills transfer. gas 85 Technology driven start-up, Kenya’s M-Kopa, is providing mobile money financed off-grid solar energy kits. electricity multiple choice questions grade 9 The authors also study global companies which have succeeded in Africa for decades, like Coca-Cola, GE, and Total.

“At the heart of these four imperatives is a commitment to doing well by doing good. We have had the privilege of meeting and working with many remarkable business leaders from around the world. electricity n and l What has struck us time and again is how many of them are driven by a deeper purpose. They look closely at Africa’s high levels of poverty; its gaps in infrastructure, education and healthcare, and its governance problems. But they don’t just see barriers to business – they see human issues they feel responsible for solving. They show us that contributing to the social and economic development of the countries within which their thriving businesses operate creates value for both shareholders and stakeholders.”