Boston Consulting Group, BCG, has released its ‘Pioneering one Africa Report’ which tracks business and economic development in Africa, with a focus on the roles of leading African companies and Multinational Corporations MNCs.
The report identified 150 companies blazing a trail toward a more integrated Africa. They consist of 75 Africa-based companies and an equal number of MNCs that have established impressive track records in Africa and are contributing to further integration and economic development.
Interestingly, six Nigerian companies made the list of the 150 companies blazing the trail on the continent. They are :
Dangote Group
Guaranty Trust Bank
United Bank for Africa
Nigerian Breweries
Globacom
Jumia
Footprints Companies
The report also identified 85 companies that have a large African footprint [having operations in at least ten countries] and 46 of these companies are African. They are active in the financial, consumer and retail, industrial goods, technology, and logistics sectors, among others.
Three Nigerian Companies made the list and these include:
Dangote Group
United Bank for Africa
Jumia
Greenfield Investment
The report also identified 9 African pioneers and 11 MNCs making significant greenfield investments in manufacturing facilities and other business infrastructure. It identified Dangote Group of Nigeria, as one of the largest conglomerates in Africa, with the establishment of cement factories in six African countries in 2014 and 2015, including a $480 million plant in Ethiopia. Dangote’s African operations outside its home market now contribute almost 30% of the group’s revenues.
Brand Recognition
The report noted that Africans are discerning consumers who make well-informed purchasing decisions and are willing to pay more for higher-quality goods. In addition, the social approval of a brand plays an increasingly important role in purchasing decisions.
Local Innovation
The report identified a number of companies in multiple industries for exemplary innovation and making African Lives better. Nigeria’s Guaranty Trust Bank and Jumia made the list.
People Advantage
The report identified companies that have invested in growing and retaining local talent on the continent.
The Boston Consulting Group (BCG) is a management consulting firm with 90 offices in 50 countries. The firm advises clients in the private, public, and not-for-profit sectors around the world. It was ranked third in Fortune’s “100 Best Companies to Work For” in 2017.
