Danish Business potential in Africa
In the last decade, the African continent has become an attractive location for export and investments. More and more businesses in Europe, Middle East and Asia are noticing the huge variety of opportunities in Africa and are making moves onto the large and barely touched market.
Even though, long ago majority businesses and investors were unaware of the opportunities Africa provides, what usually stops them in stepping forward to the continent now is being doubted by the its notoriety in relation to poverty, political conflicts, currencies instability and economical arrest risks.
This is a common mistake and the reason Africa is usually an underestimated business location, despite the existing opportunities in major industries as: agriculture, finance, development, energy, and telecommunications. Denmark is one of the European countries that already has its business representatives in Africa, yet their number is quite low despite the wealth of opportunities.
What Danish businesses need to know is that Africa is a relevant market place for Denmark and Denmark is a relevant supplier for the African market. The Danish business community can provide products, services, and expertise, all of which with high quality and ethical standards.
Denmark businesses can enlarge their markets and develop their sales while exporting to Africa and creating sustainable development. Moreover, Danish businesses can significantly contribute the African economic, social, and environmental development. Talking figures, back in 2012 the total Danish export in goods to Africa amounted to 782.5 million DKK but this number has no doubt increased and is going to increase in response to the growing African GDP.
What should Danish businesses do? Unleash their potential and look up for their place on the African market as there is a wide range of needs what is better for business than finding a gap you can fill. What is needed to be taken into consideration are having a better coordination between foreign and development policy-makers and private Danish companies. Undoubtfully, Africa’s diversity of climates, regions, nature, and resources make it one of the hottest places for making business right now and Danish businesses shouldn’t neglect it.