Author: Dawit Woldemariam

Africa is home to some of the world’s fastest-growing economies, with the IMF projecting Sub-Saharan Africa’s GDP to grow by 3.8% in 2024; outpacing many developed markets (IMF). From rising consumer spending to accelerating digital adoption, the continent offers enormous opportunities for businesses ready to enter and scale.

But despite the promise, success is far from guaranteed. Companies that expand without a tailored strategy often face regulatory pitfalls, supply chain disruptions, and slower-than-expected adoption.

Why Market Entry Strategy Is Critical

According to the World Bank, Africa’s consumer spending is projected to reach $2.5 trillion by 2030 (Brookings). Yet this demand is fragmented across 54 countries, each with distinct:

• Regulatory frameworks

• Cultural norms

• Distribution infrastructures

• Currency and credit risks

  
  

A one-size-fits-all approach simply doesn’t work.

Consider this:

In a 2022 Deloitte survey, 61% of executives cited “inadequate local partnerships” as a top reason for underperformance in Africa (Deloitte).

Companies that invest early in building partnerships, understanding compliance, and localizing their go-to-market model consistently outperform those that don’t.

Three Questions Every Business Should Ask Before Expanding

1. How will you adapt your offering to local needs?

   • In Kenya, digital payments adoption exceeds 80% (BCG). In Ethiopia, cash is still dominant.

   • Product design and pricing must reflect local preferences and infrastructure.
     
     

2. What regulatory hurdles will you face?

   • Different markets have unique import tariffs, labeling requirements, and restrictions on foreign ownership.

   • For example, Nigeria requires pre-approval for many categories of imported packaged foods and pharmaceuticals.
     
     

3. Who will be your in-market champions?

   • Local distributors, agents, and policy advisors can help you navigate complex environments and avoid costly missteps.

How Laurendeau & Associates Can Help

At Laurendeau & Associates, we support international firms expanding to Africa by offering:

• Regulatory intelligence and compliance mapping

• Partner identification and due diligence

• Market sizing and opportunity assessments

• End-to-end execution support

• Government Affairs and Business Development Support
  
  

Over the past five years, we’ve helped clients from sectors as diverse as agriculture, technology, and FMCG establish operations across African markets. If you’re considering expanding or want to strengthen your existing footprint, now is the time to invest in a strategy built on expertise, expertise, data, relationships, and local knowledge.

Ready to explore opportunities in Africa?

Book a 30-minute strategy consultation with our team to discuss your goals and learn how we can help you accelerate your market entry.

👉 Schedule your consultation