According to the World Bank, 35 of 47 economies in sub-Saharan Africa took at least one step in making it easier to do business in their country in 2015. Rwanda implemented a credit-scoring service; Kenya launched government-run company registration services; Madagascar strengthened minority-investor protections; and Equatorial Guinea took the registration procedure for new businesses from 16+ steps down to four, and the processing time from 120+ days to 10.
As new businesses are created and developed, and oil-based economies work to diversify in the face of low oil prices, business-to-business (B2B) opportunities throughout Africa will thrive. In their report, Lions on the Move II: Realising the Potential of Africa’s Economies, McKinsey Global Institute stated an increase in the number and size of African businesses, saying that: “While the consumer story has generated headlines, the relatively unsung business-to-business market represents an even larger opportunity.”
McKinsey expects B2B demand to grow by US$1tr, bringing the figure to $3.5tr by 2025. African companies spent $2.6tr on the B2B market in 2015 – 40% of which was in South Africa and Nigeria.
Read more: Business-to-business market in Africa to show $1 trillion growth by 2025
- Africa Report 2015 – Real Estate Markets in a Continent of Growth and Opportunity: Knight Frank (Infographics & Report)
- Compelling investment markets in Africa – Inside Riscura’s Bright Africa 2015 Report: Debbie O’Hanlon, Senior Analyst, RisCura (Infographics)
- 3 reasons things are looking up for African economies: McKinsey & World Economic Forum
- Real GDP Growth Rates (2007 – 2017) of Countries in Africa (Interactive Map & Chart)
- Into Africa: The continent’s Cities of Opportunity – PwC (Video, Presentation, and Report)
- Why I cannot tell ‘the African story’: Nancy Kacungira, News Anchor, KTN (Infographic)
- Africa’s Prospects – Macro Environment, Business, Consumer and Retail Outlook Indicators (Infographics & Report): Nielsen
- Why you should take chances: Marek Zmyslowski, Managing Director of top African hotel booking website Jovago (Video)
- MasterCard and Ecobank partner to accelerate electronic payments adoption in 28 Sub-Saharan African countries
- Africa is one of the few bright spots on the global economic horizon, says billionaire investor George Soros
- Diageo: Could Africa Be The Motor For Growth?
- Africa’s richest man plans to almost double the continent’s cement production by 2020 (Infographic)
- Tourism in Africa: On the rise but has not at its full potential
- Africa property offers rich pickings for the brave
- Private equity investment in Africa heats up as pension funds stay local
- Africa’s Economic Prospects: Bryan Leith, COO, KPMG Africa
- How will US monetary tightening impact African markets?
- The African economy: Better than people think
- Why And How You Can Profit Investing In Africa’s 1.1 Billion Consumers
- Africa: The great opportunity
- Across Africa, 3 in 4 countries improve business environment (Infographic)
- East African Community a bright spot amidst emerging markets gloom
- African economic growth: The twilight of the resource curse?
- Dubai-based private equity firm Abraaj readies Nigerian fertilizer and East African insurance deals
- African Markets Guide 2015: Barclays (Report)
- Africa attractiveness program 2016: EY (Infographics & Reports)
- Africa’s spending to exceed $5.6T by 2025: McKinsey
- Lions go global: Deepening Africa’s ties to the United States
- Africa’s megaprojects: 326 billion reasons Africa is on the move (Photos, Infographic & Video)
- Which African countries will see the greatest growth in millionaires over the next 10 years?
- Starwood Hotels accelerates growth in Africa with seven new deals
- Visa and MasterCard moving into mobile pay in Africa
- Here are 17 facts about Africa you might not know
- Goldman Sachs & MTN to invest $245M in Nigerian e-commerce firm Africa Internet Group (AIG)
- EXEO Capital’s agribusiness Agri-Vie Fund II attracts over $100M in first close
- Why Invest in Africa? The Big Picture
- Lafarge to Merge Nigerian and South African Units in $1.35B Deal to Rival Dangote Cement
- Citi to Deutsche Bank on charm offensive in Africa as banks clamor for bond issuance deals
- How not to write about Africa: Use “African Spring”
- African Property Delivers for Private Equity Investors: Derrick Roper, CEO, Novare Equity Partners