Ernst & Young launches Africa Business Centre

According to Philip Hourquebie, CEO: Africa, many global companies have underestimated the combined impact of Africa's size, infrastructure underdevelopment, shortage of skilled resources and unreliable telephony and technology systems on their own business models. With Africa receiving much attention from the global investment business forums, it is critical that doing business in Africa is perceived to be as cost-effective and as opportune as possible.

Ernst & Young recently issued an update on its research campaign, “Lessons for Change: Findings from the market,” in which 870 c-suite executives were interviewed about a variety of topics including optimising market reach. The research indicated that 40% of companies were considering diversifying geographically and 18% were considering buying up weak competitors and expanding market share in new geographies.

One of the leading trends in the Lessons for Change research is that high performers are consistently seeking to develop a broader and a deeper view of their market opportunities today and tomorrow. The figures indicate that new geographies are being explored, and this includes Africa.

The Africa Business Centre is a network of professionals across Africa¸ and in investor markets including China, India, the Middle East, the United Kingdom, Europe and the United States.