Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Africa offers great opportunities for SME growth  Join our daily free Newsletter

MENAFN - Arab News - 22/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN -Arab News) According to the International Monetary Fund (IMF), economic growth in Sub-Saharan Africa in 2014 is expected to be slightly higher than of that in 2013, at around 6 percent.

This growth, coupled with the more than one billion consumers on the continent who spend 600 billion annually, as well as having the fastest growing middle class in the world, and the significant opportunity that connecting with the world represents, provides African small and medium enterprises (SMEs) with boundless opportunities in 2014

This is according to Charles Brewer, MD of DHL Express SSA, who says that SMEs are clearly the growth engine for Africa and the critical driver for sustainable economic growth

"According to Deloitte, Africa's middle class has tripled over the last 30 years, and the current trajectory suggests that the African middle class will grow to 1.1 billion in 2060. As African economies are some of the fastest growing in the world, the outlook for the continent is very positive going forward.

DHL is well-positioned to partnering with African SMEs and helping them to connect with the world ? so I ask you, what are you waiting for?? concludes Brewer

"Manufacturing, on a large scale, is still somewhat embryonic in Africa and as such, there is a definite opportunity for SMEs to fill the gaps which are not being serviced by these large global companies. As important, a growing SME base will create hundreds and thousands of new jobs, which is an absolute must for this ever growing continent.

Brewer says that other than the usual challenges which SMEs are likely to face in Africa, such as infrastructure challenges, customs regulations and controls, access to finance may be an obstacle going forward. "The Institute of International Finance reported that due to many countries in Sub-Saharan Africa struggling with controlling price pressures, central banks have tended to keep monetary policy fairly tight. Despite this challenge, we expect SMEs to create growth opportunities through increased consumer spending power and expansion into untapped markets

"The growing internet user penetration in Africa also provides a sizeable opportunity for SMEs, and as Africa continues to adopt e-commerce as a way of life, businesses are able to leverage this online market, while reducing traditional customer acquisition costs. World Wide Worx's 2012 Internet Matters report reveals that the local e-commerce market is growing at a rate of around 30% a year and shows no signs of slowing down

The findings of the 2013 National Small Business Survey, conducted by the National Small Business Chamber (NSBC), revealed that the key need expressed by SMEs includes expanding customer base, increasing sales and going global. "Accessing new markets by trading across borders is the key to growth and competitiveness and the key driver for small and medium enterprises in South Africa," says Mike Anderson, NSBC founder and CEO

Brewer says that the more an SME can tap into global opportunities and the more it can look into global expansion, the better the chances for growth become. "When it comes to global opportunities the key to success for many SMEs is knowledge. Knowing which markets to target, how to market their product, how to identify customers, how to get paid and critically, how to ship globally. We have 25,000 SMEs who work with us across Africa and every day we work on understanding their needs better and help them to go global. DHL is well-positioned to partnering with African SMEs and helping them to connect with the world ? so I ask you, what are you waiting for?" concludes Brewer.


 






  MENA News Headlines
 Jul 30 2014 - Safe haven status boosts investment scope in UAEspanKhaleej Times
(MENAFN - Khaleej Times) E political situation in the region has made Dubai into a magnet for families from across the region to set up home and establish regional or global offices for their ...

 Jul 30 2014 - Tech Mahindra eyes expansion in Saudi ArabiaspanKhaleej Times
(MENAFN - Khaleej Times) Ch Mahindra a specialist provider of connected solutions has announced that it has signed a joint venture agreement with Midad Holding which is a subsidiary of Al Fozan a ...

 Jul 30 2014 - Middle East earns 1 of global market research revenuesspanKhaleej Times
(MENAFN - Khaleej Times) E entire Middle East region earned only a meager one per cent of the global market research revenues which indicates the potential for market research that is prevalent in ...

 Jul 30 2014 - Dewa to show smart initiatives at Gitex 2014spanKhaleej Times
(MENAFN - Khaleej Times) Bai Electricity and Water Authority or Dewa has announced its participation in Gitex 2014 to be held from October 12-16 at the Dubai World Trade Centre.Dewa will showcase its ...

 Jul 30 2014 - Sico first-half net profit jumps 166spanKhaleej Times
(MENAFN - Khaleej Times) Curities & Investment Company or SICO licensed by the Central Bank of Bahrain as a conventional wholesale bank announced its financial results for the second quarter of 2014 ...

 Jul 30 2014 - Taqa Arabia eyes Egypt expansionspanKhaleej Times
(MENAFN - Khaleej Times) Laa Holdings announced that its energy sector subsidiary Taqa Arabia aims to expand its network of fuel stations in Egypt through Taqa oil marketing company.The company ...

 Jul 30 2014 - Real estate to pick up from next week: Industry expertspanKhaleej Times
(MENAFN - Khaleej Times) Bai Land Department transactions exceeded Dh113b for H1 The real estate market in Dubai is expected to pick-up again from next week after a slowdown during the last couple of ...

 Jul 30 2014 - Memon to hand over five projects in 2014spanKhaleej Times
(MENAFN - Khaleej Times) Mpany working on Dh1.Memon Investments has planned to hand over five projects worth more than Dh600 million in the next five months and is also planning to launch five new ...

 Jul 30 2014 - ADFD funding in underdeveloped countries hit Dh61bspanKhaleej Times
(MENAFN - Khaleej Times) E development finance institution articulates the UAEs continued commitment to support the development process of emerging countries.An exterior view of power plant in ...

 Jul 30 2014 - UK and US preferred by Arab travellers: MarriottspanKhaleej Times
(MENAFN - Khaleej Times) E US takes the lead when it comes to bookings with 20 per cent of all reservations closely followed by the UK which accounts for 16 per cent.Marriott International has ...

more...


 






Google

Taqs

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help