West Africa, as a sub-continent has well over 250 million inhabitants. It is a region that is now being taken seriously as a viable destination for foreign direct investment. This is particularly as a result of the increasing democratisation wind that is blowing through out the region, led by countries such as Ghana, Nigeria and Senegal. Economic stabilisation is one of the benefits for the region, that has lead to headline-grabbing growth figures for such countries as Liberia, Ghana, Nigeria and Guinea Conakry.
The blog focuses on providing key insights into conducting business in various West African countries, to act as a tool for those in the Diaspora looking to set-up SMEs in their home countries, or regional business professionals looking to tap into European and US Markets.
The author has conducted business in West Africa for many years, and therefore has an intimate understanding of the business reality, on the ground, which goes beyond what is currently available on the internet. This gap in information was especially highlighted by ECOWAS conferences attended by the author, where there was a unanimous lament at the lack of different aspects of business information that made strategic decisions possible, for firms wanting to increase intra-regional trade.
In the coming weeks and months, this blog will provide information and insights into the building blocs that entrepreneurs need to be aware of, when conducting business in this region of such huge potential. The blog will look at:
- Identifying promising sectors in specific countries of West Africa
- Clarifying legal, regulatory and economic conditions 'on the ground'
- Help develop a better understanding of the 'informal economy' and its commercial impact
- Providing a platform where the Diasporan community can interact and make their views known
The first article will follow in due course. Let us put our hands and minds together and make our contributions to building West Africa.
