Consulting Can Help To Unlock Africa’s Potentials

Potentials of Africa

Consulting can drive the value creating in the unlocking of potentials of Africa.

Our central question is Africa the next economic frontier as other world economies become saturated and what role can consulting play to grow the contingent?

Nigeria with her huge population, market, and economy can represent a unique study case in our understanding of Africa, though sometimes it may be regarded as an intriguing sample.

African economies are obviously more dependent on extractive industries. Despite its challenges, Nigeria remains a significant emerging market with strong potentials with new innovative dependencies evolving.

The current economic recession appears to provide an opportunity for firms to build a collaborative relationship within different sectors of the economy.
Nigeria sits on huge resources but apparently as a developing nation needs to be strong on strategic focused capabilities.

People and government over the years have grappled with survival strategy but no real SMART efforts being made in developing adaptive strategies necessary for sustainable growth.

I believe that the two engines that will drive the Nigerian growth are “government” and “small and medium scale enterprises” in the short and medium term. The big corporations may not be in the mix.

Governments at all levels are austerely constrained due to the significant loss of oil revenue. They need help to have structured cost ambition programs to secure cost savings and control costs. They do not need to increase taxes in the short term but rather need to craft policies that will enable businesses to enhance their revenue/profit margins and then contribute more towards the wider tax revenue baskets. This will benefit business and increase government revenue off-take.

Small and medium scale enterprises need help to develop strategic perspectives that will enable them to be more market focus. Challenges being experienced should be seen as opportunities and not limitations – a paradigm shift. They need a deeper understanding of how today’s small family businesses can be turned into the like of “Fortune 500 companies” as it is being done across the Americas, Europe, and Asia.

Consulting services can help African “start-ups” that are truly home-grown driven by the entrepreneurial passion seeking innovative solutions to problems created by decades of defective strategy. Though Africa is sadly regarded as being poor, I believe that as more entrepreneurs get out of poverty, Africa will prosper.

My central argument is that as you provide consulting services for and grow SMEs into big players, you are putting Africa into growth.

The recession across the African region becomes a good time to put a stake into the ground. There are benefits on the table for businesses that are anchored on the strategic intents of “embeddedness” and “first-mover advantages”.

Consulting firms can have a big role to play in unblocking Africa’s potentials. They can bring in global perspectives and help to simplify management practices while facilitating the thought process as to why the disciplined consistent applications of these practices are important.

In moderating strategy execution (and project management) especially in extractive industries, I am keenly drawn towards interests in the deepening of knowledge exchange and research into structural misalignment, contractor’s behavioural perceptiveness, and the dynamics of social movements.

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I welcome your comments. In a subsequent piece, I will discuss how the theory of resource partitioning can be applied to the relationship between consultants and the SMEs.

This piece is contributed by:

Leesi Gabriel Gborogbosi

The author, Leesi Gabriel Gborogbosi, CFO & CEO of Gabriel Domale Consulting, is experienced in finance and strategy with emphasis on finance transformation, project finance, strategy implementation, performance management, corporate governance, and collaboration. He is also a Doctoral Candidate in Strategy at IE Business School, Madrid.

To know more about me, please visit:
https://www.linkedin.com/in/leesigborogbosi

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