Africa has become the home of the most innovative companies in the world, and has a huge opportunity for those who want to partner in people’s businesses.According to reports released by the Global Economics Prospect, Africa has become one of the fastest growing economies in the world today. With the rapid development of some of its major countries in Africa like Tanzania, Senegal, Ethiopia and Côte d’Ivoire , there is much to do as an entrepreneur in Africa. Some of the listed countries are growing so fast economically, that they are predicted to overshadow some advanced economies around the world.
With the tremendous growth of the African economy, there is an abundance of investment opportunities for both individuals and business firms. So, with the right business mindset, one can tap into the opportunities that are attached to the rapid growth of the economy.
Just in case you are one of those interested in partnering with any of the investments in Africa, we obviously think you should get in a business with the right people to avoid fraud. These are some of the things to look out for;
- Strength & Expertise Of The Firm
It’s very important to have trust and confidence with the business and management system. The questions to ask them may include “what are they offering, equity or debt finance” or “what segment do they service and what asset do they work with?”
The responses to these questions will help you decide if you are going to work with them or not. Also, their ability to finance your project depends on the strength of their balance sheet.
The firm should have the ability to provide the required products that will be used to meet up with the need of Africans and also finance your project without difficulties.
- The Location of the Partner
Globalization is something to look out in a partner. It is important to partner with firm whose influence I is felt around its locality or the country. The firm should have a widely known network in the country of operation and also across if you want a transaction across other countries.
If you are to go into partnership with a firm with a global network, it means that you can trust them to help you. However, this does not mean that you are not going to get a local investor who can do better than some of these famous business investors.
- How to Access Them
Most banks have chosen to adapt to the online banking system which allows businesses or personal account owner’s have access to their account at any point in time, day or night, during public holidays or after working hours. This has played a huge role in moving businesses to the next level in the global business environment today . Though, some financial services providers have chosen not to embrace technology. Partnering with such financial services who are not ready to move on with technology is a disaster waiting to happen.