BCG: Economic awakening underway in Africa
Forty African companies, the “African challengers,” have been rapidly expanding , competing in the global economy, and highlighting the vitality of a continent whose economic accomplishments rarely receive attention, according to a report by The Boston Consulting Group (BCG).
The 40 African challengers range in size from $350 million to $80 billion in annual sales and represent most of the major industry sectors. They all display strong growth, an international footprint, and ambitious plans to further expand overseas. Most of the companies are based in South Africa (with 18 companies), Egypt (with 7), and Morocco (with 6). The nine remaining players come from Algeria, Angola, Nigeria, Togo, and Tunisia. These eight countries represent 70 percent of Africa’s GDP, according to The African Challengers: Global Competitors Emerge from the Overlooked Continent. READ MORE