Multinationals in Africa are growing revenues but losing market share to local rivals (Infographics)


Whether its Starbucks opening its first coffee store in sub-Saharan Africa next year, or fast-fashion retailer, H&M, opening its first African store in Cape Town, multinationals are lining up to cash in on the vast opportunities in Africa’s growing consumer goods market.

While many multinationals (MNCs) may be growing their revenue share in Africa—off the back of a growing middle class and a demand for a variety of consumer goods—a new report from the global consultancy firm, Boston Consulting Group (BCG), argues that multinationals are gradually losing market share and being outclassed by local African companies.

“It’s true—European and North American companies in a variety of industries are earning a higher percentage of their global revenue on the continent than they ever have. But the numbers are still small. And by another, perhaps more telling, measure—African market share—many of those companies are going backward,” says the report.

Read more: Multinationals in Africa are growing revenues but losing market share to local rivals – Quartz

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