Understanding the challenges & opportunities of doing business in Africa

Expanding business in Africa comes with a set of unique challenges and opportunities. Mustapha Njie, the Managing Director of TAF Africa Global, shared insights on the difficulties and advantages of leading and expanding businesses in Africa, particularly in the real estate sector. Njie highlighted various challenges, including the access to land, finance, political risk, and the lack of skilled personnel. However, amidst these challenges, he also pointed out the significant opportunities available in the African market. One of the notable opportunities discussed was the African Continental Free Trade Area (ACFTA), which allows businesses to expand their reach across borders. Additionally, the growing population in Africa presents a promising market for real estate businesses, as more people are becoming financially capable of buying houses. Njie also emphasized the importance of friendly government policies as an opportunity for business expansion in Africa. With over 30 years of experience, TAF Africa Global is well-positioned to capitalize on these opportunities and navigate the challenges of the African business landscape. One of the major obstacles highlighted by Njie is the access to finance, as high interest rates and limited accessibility pose significant barriers for companies looking to expand. Despite complaints from some African companies about unequal treatment compared to foreign companies, Njie believes that focusing on branding, quality production, and competitiveness can help African businesses thrive in the market. Encouraging local companies to innovate and differentiate themselves can lead to sustainable growth and success in the competitive African business environment.