AFRICA
Africa is a continent composed of 54 countries, rich in natural resources but including some of the poorest nations. Historically
Africa is one of the UK and Europe’s oldest trading partners, but over the past 25 years there have been considerable changes in the
continents fortunes, some good, some bad. Recently the emergence of South Africa, following the end of apartheid, has given a boost
to trade in the region whereas other traditional trading partners e.g. Nigeria and Kenya, have stagnated in recent times. However,
contrary to what is often reported in the popular press, there are many success stories in Africa, including countries such as Ghana,
Tanzania, Senegal and others which have seen terrible atrocities but are now emerging, such as Mozambique, Rwanda and Ethiopia.
Trade is at the heart of Africa and its peoples but, for many reasons, trade is still largely based on the export of raw materials
and the import of finished goods. Africa, excepting South Africa, has fallen behind Asia and the Western World in terms of manufacture
and invention.
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However, there is a new breed of entrepreneur now emerging in many African countries, often trained overseas, who are
looking to develop niche markets, but require assistance in terms of technology, markets and funding.
Doing business in Africa can be far from “straight forward” and persistence is needed, both to identify and develop the opportunities
presented. However, if UK companies are prepared to work with their African partner to develop the business, much can be achieved.
This may require dedicated training and management assistance, as well as technical support. Innovative financing may also be required,
whereby the partners may need to explore both commercial and development funding. Increasingly new sources of investment are available,
ranging from specific development funds designed for SMEs, SME loans from mainstream banks e.g. Standard Charter, through to Venture
Capital and Leasing.
See below for details of FSC's experience in Africa.
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