Talk on the Street
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Talk on the Street
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Companies are actively seeking franchising opportunities into Africa as the continent continues to shed negative associations of the past & position itself as a strong & growing economy.
Changing Face of Africa’s Economy
Over the past decade or so, Africa as a whole has gone through quite significant government and economic changes, and countries around the globe are taking notice. The continent is seeing great movement with a strong emerging middle class and strong economic growth.
Many of the African nations, in particular, South Africa and Nigeria, have spent the last several years shedding their reputation of lack of infrastructure, corruption and poverty. This has led to governments and companies from around the world to actively seek direct trade and investment with these nations.
According to the African Development Bank Africa’s middle class consists of approximately 34 percent of the population, an increase of seven percent over the past 10 years. Africa boasts a $1.8 trillion economy and seven of the top 10 fastest growing markets are located within this vast continent.
As African nations like Nigeria and South Africa work to improve their economies, governments and societies, international governments and large corporations are keen to help these nations improve their infrastructure and technology due to the fact that Africa remains very rich in natural resources and the fact that they are proving themselves to be building strong, growing economic foundations.
U.S. Commitment to Expanding Trade in Africa
The U.S. government has, over the past few years, actively sought to invest directly into Africa. Former President Barak Obama toured various African nations during his second term, with the specific intent on strengthening business trade between the U.S. and these countries. He met with various government and business leaders, sharing his desire to invest in the future of these African nations.
Focus is on South Africa and Nigeria
According to franchising experts All State Franchise Finders, businesses are placing significant focus on franchising into the African nations of South Africa, where the franchising concept has already taken hold, and Nigeria, where franchising is fast becoming a popular and highly desirable way of business.
“Over the past few years, groups like the Franchise Times and the International Franchise Association have sponsored trade missions to various countries, including Nigeria,” says Derek Cafferata, CEO and President of All State Franchise Finders. “ With the aim to establish franchising partnership opportunities.”
All State Franchise Finders
All State Franchise Finders continues to see increasing interest from U.S. based businesses who are keen to expand into Africa. However, Derek warns that each nation has its own rules and regulations when it comes to foreign business and investment. So, it is vital to seek advice from those with suitable experience and knowledge of international franchising into the various African nations.
For more information or to seek advice on franchising both throughout the U.S. and around the globe, contact All State Franchise Finders on 1-800-544-2161 or visit allstateff.com today. All State Franchise Finders – Your Franchising Experts!