Things You Should Not Do While Investing In Africa

This explains what investors should not do in the course of investing in Africa.

Maybe you're right in a dilemma on what not to do while investing in the continent of Africa, or probably you've tried other different ways, which yielded no good result. You might even be in the process of investing in Africa but stuck on the road.

Journey with me here as we look into the intricacies of what you shouldn't do while investing in Africa. But before then, you should know some basic facts about Africa, which has 54 countries, with thousands of different ethnic groups, with distinct languages, laws, and cultures.

It is imperative for you to know much about a particular place and the people before deciding to invest therein. This is very important because of the sensitivity about the place and the people that would, in turn, be your audience. You shouldn't overlook their way of life and what they hold dearly, as this will help you navigate the success of your investment.

Should you neglect the culture of Africa before investing?

Of course not! As an investor or aspiring investor in Africa, you should not underestimate the power of the people's culture. The truth is that it tells much about how Africans will respond to your business. Imagine an African country that is not in support of the gambling business and frowns at such when found; you could imagine how the people would react to your investment, being that they do not subscribe to such activities, and I'm sure you know what will happen to such business.

You shouldn't overlook the values that the people in the African countries hold dearly. One of the values African countries don't joke about is hardworking. And if your investment wouldn't be portraying such value, then you shouldn't consider it in Africa.

Brotherhood is a very common factor that Africans relate with so much, so also, you shouldn't consider an investment that won't allow an environment with a brotherhood life. Suppose your business is solely based on the "I" or individualistic nature with no regard for a communal lifestyle. In that case, you shouldn't consider it in Africa because Africans place much interest in relating with others around them.

Can you just do away with Afghanistanism?

I'm not surprised you gave a sigh on "Afghanistanism" if you are not familiar with it. It simply means concentrating on problems in distant parts of the world while ignoring the controversial local issues.

If you want to invest in Africa, and you do not want to look into the issues in the continent with an African lens, then you shouldn't consider investing in Africa.

If your investment would be proffering solutions to problems outside Africa, then you should not take the first step in investing in Africa. I can't imagine what would be the end result of an investment not solving problems in its situated environment; it just wouldn't be something palatable to imagine because the people would not benefit from its offer and wouldn't even see its existence.

There's the need to emphasize that you should do away with Afghanistanism in your investment in Africa. Do not neglect the problems in Africa, as they are much more important to be avoided in your investment.

You should not neglect advisory or consultancy services.

As an aspiring investor in African countries, you should not underrate advisory or consultancy services before venturing and even while investing in Africa. You will save your business from many problems in the idea, conception, solution, and market stages.

You might be skilled in different phases of Investments, but you might as well need to consult professional consultants to help you overcome posterity failures.

You might have an idea but need help on how to develop the idea into one that is feasible.

You shouldn't just carry out the conception stage haphazardly. You should carefully get the right market and customers requirements. A good consultant agent would be in the best position to supply the information on market requirements and customers' requirements in Africa.

Likewise, before investing in Africa, you might want to avoid a poor business solution in Africa. Suppose you would be getting the right business solution for your Investments in Africa. In that case, you shouldn't overlook an advisory service that will provide you with a tested and proven solution to utilize in Africa while investing in the continent.

You should not avoid the phase of fulfilling the need of your customers who are in Africa; your investment will have to undergo product lifestyle management from an advisory or consulting agent.

You shouldn't do these while investing in Africa.

You should not do away with understanding how corporate organizations work in Africa. If you fail to consider the electricity supply and internet connection, which can be unreliable and a threat to your investment, you should not invest in Africa. Likewise, the time-consuming traveling and the training climate in Africa. These are very important and can decide if one will succeed in one's business, and you shouldn't neglect them when deciding to invest in Africa.

You should not neglect the impact of political instability before investing in African countries. The African continent is known for its change in government after the completion of an appointed tenure; therefore, if you fail to consider this while investing in Africa, you might not have a good result, especially when your investment will need a partnership with the government. Whenever there is a government change, you might have to renegotiate with the new government, or you might be faced with a withdrawal of license from the new government. And this will definitely be a great consequence of your investment.

Do not involve in haphazard research on the legal and political landscape in Africa in order to avoid great risk in the course of investing in Africa.

Do not be in haste while negotiating an agreement with the government on your investment in Africa. You should be careful with this, as you may fall into a vulnerable renegotiation with the government if you are not careful enough in your negotiation with the government while investing in countries in Africa.

You don't want to overlook the stages involved in the legislation and implementation of your investment in Africa. Do not make the mistake of not complying with the law at all stages of investment because it will save you from the hassle of having to face some potential future disputes. You can just save your investment from the stress that comes from not complying with legislation and the implementation of your investment in Africa.

You might as well not neglect the fact about Africa, whose primary legal systems are based on civil law, common law, or in some cases, a mixture of the two.

Feasible things you shouldn't consider while investing in Africa.

You shouldn't ignore the structure of the African people while trying to invest in a fashion designing business in Africa. You would agree that many Africans are not skinny, unlike most Europeans, who are quite slim in shape. Suppose you would be investing in fashion, especially the "Ready to wear" business. In that case, you should consider the size you would focus more on according to the physical structure of Africa. Also, you shouldn't just bring in fabrics that the people won't be comfortable wearing because of the weather conditions in African countries.

If you would be investing in education in African countries, you shouldn't neglect the African languages taught in school. In Nigeria, for instance, there are many languages. If you would be investing in the educational sector in Nigeria, then you would have to consider the local languages being taught, like in Nigeria Southwest. You would have to include Yoruba as a subject to be taught in the school.

If you would be investing in restaurants and canteens in Africa, then you shouldn't ignore the local foods of the people, as this goes a long way in defining the people. You shouldn't just bring in foods that are totally new to the people because you might end up not getting favorable patronage from the people.

Conclusion

Investing in countries in Africa is really a great thing, but it is not enough to go ahead without considering the precautions to be taken to avoid failures in the course of investment.

You might be in the state of thinking about how to go about investing in Africa, you might have even gotten the pros and cons on how to invest in African countries, but you would have to be extremely careful so as not to land in painful regrets that befall many investment projects.

Try not to fall into errors of starting a business in Africa, considering the efforts put into ensuring the success of the investment by following the aforementioned things on what not to do or consider taking while investing in countries in Africa.

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