Africa is about to become the world’s largest free trade area: 55 countries merging into a single market of 1.2 billion people with a combined GDP of $2.5 trillion.
Experts say the African Continental Free Trade Agreement is a game changer If your company has not thought much about Africa, now is the time.
Here are 5 points as to how you can sail this wind.
- Ports & Routes – Africa is soon going to be “one big Port”, the rest is last mile. You might want to establish your preferred FPOE’s for entry and distribution
- Transport – At this time, you can’t do without Road Freight. Start finding your Truckers and LTL partners. It’s going to be a boom for internal trucking and Air Freight
- Target –Industrialization is still nascent on the continent. Look out for Inter trade happening between more industrialized countries like South Africa Ghana, Morocco, Nigeria, and Countries like Sierra Leone, DRC, Zimbabwe; for Raw materials and finished goods
- Partners – As you know, partners matter. Time to build relations, find partners with strong footing on the continent for business.
- Digitize Operations – Everyone wants a piece of the pie. The real difference between you and competition regarding market share will be who digitizes fastest.
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