Quotes: 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 counties 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.

 


Arab News




  MENA News Headlines
 Apr 24 2017 - Visitors scout latest developments at Cityscape Abu DhabiKhaleej Times
(MENAFN - Khaleej Times) A total of 13 countries were represented at the three-day show Visitors at Cityscape Abu Dhabi got the chance to get learn more about some of the latest developments in prime ...

 Apr 24 2017 - New medical rules, amenities for Dubai touristsKhaleej Times
(MENAFN - Khaleej Times) Dubai Health Experience aims to place the emirate as a favoured destination on the world medical tourism map Dubai aims to attract 500,000 medical tourists by 2020. "In ...

 Apr 24 2017 - UAE cashes in on digital financeKhaleej Times
(MENAFN - Khaleej Times) A spurt in digital finance in the UAE is inevitable as the country embraces the global trend of smart payment solutions. Digital finance - financial services delivered via ...

 Apr 24 2017 - UAE- Can we expect more GCC IPOs soon?Khaleej Times
(MENAFN - Khaleej Times) Firms may want to adopt a wait-and-watch approach for better cues In the past couple of years, the GCC IPO market has been hit significantly by dwindling oil prices, an ...

 Apr 24 2017 - UAE- Investors, banks will soon opt for ReitsKhaleej Times
(MENAFN - Khaleej Times) Q: I am bullish on the real estate sector in India but unfortunately real estate investment trusts have not picked up so far. Is there a possibility that such investment ...

 Apr 24 2017 - Uganda ready to welcome Qatar's Islamic banksThe Peninsula
(MENAFN - The Peninsula) The Republic of Uganda, which is working aggressively to attract Qatari investors to all sectors of its booming economy, is ready to welcome Islamic banking and financial ...

 Apr 24 2017 - Qatar-Kazakhstan bilateral talkThe Peninsula
(MENAFN - The Peninsula) Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani met with the Minister of Foreign Affairs of the Republic of Kazakhstan, Kairat Abdrakhmanov ...

 Apr 24 2017 - Bahrain's Bin Faqeeh joins TLN QatarThe Peninsula
(MENAFN - The Peninsula) Bin Faqeeh Company, which operates in the Kingdom of Bahrain in real-state related investments, announced that it has officially joined The Luxury Network (TLN) Qatar. TLN ...

 Apr 24 2017 - Egypt sentences 20 to death in police killingsThe Peninsula
(MENAFN - The Peninsula) CAIRO: An Egyptian court has upheld death sentences against 20 suspected Islamists convicted of murder in the deaths of 15 people, including 11 police, during an attack on a ...

 Apr 24 2017 - Health of jailed Palestinian MP deteriorates: PanelThe Peninsula
(MENAFN - The Peninsula) RAMALLAH, Palestine: The health of hunger-striking Palestinian lawmaker Marwan Barghouti has reportedly deteriorated inside an Israeli prison, a Palestinian committee said ...

more...


 





Google

 
 

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

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help