Boston Consulting Group lists Glo, others as driver of African integration, growth
A global management consulting firm, Boston Consulting Group (BCG), has named Nigeria telecommunication giant, Globacom, as one of the African companies pioneering economic integration across the continent.
In a report entitled, ‘Pioneering One Africa: African Corporations Trail-blazing across the Continent’, BCG listed Globacom as one of the six companies driving economic activities in Africa alongside Guaranty Trust Bank, Dangote Group, Jumia, Nigerian Breweries and United Bank for Africa.
A total of 150 trail- blazing companies consisting of 75 Africa-based and 75 multinational firms that have established impressive track records in Africa and are contributing to further integration of the continent were identified by BCG.
They include multinational companies from France, the United Kingdom, and the United States, China, India, Indonesia, Qatar, and the UAE while the African pioneers comprise 18 countries including South Africa, Morocco; Kenya, Nigeria, Egypt, Côte d’Ivoire, Mauritius, Tanzania, and Tunisia.
According to BCG, Africa’s economic consolidation is steadily on course, with the support of Globacom and the other listed companies, despite the continent’s issue of fragmentation.
The report also listed eight factors that clearly explained how the continent is benefitting from these companies. BCG stated: “The active expansion of their footprint across several African countries; building strong African brands, using local innovation to adapt to the African consumer; investment in local talent and developing people advantage; building local ecosystems and connecting Africa by facilitating the movement of people, goods, data, and information”.
Patrick Dupoux, Co-author of the report and BCG Senior Partner, said: “Fragmentation in Africa is much greater than anywhere else in the world, and it adds significantly to the economic challenges facing countries that typically lack the critical mass to compete globally. Despite these barriers, we see more signs of economic integration with each passing month, quarter, and year. The primary drivers come from within the continent, led by African business.”
Also, Lisa Ivers, another co-author of the report and a partner with BCG, argued that “If the past decade has demonstrated anything, it’s that these companies are masterful at overcoming adversity. They’ve built impressive track records of creating value for themselves and advancing the development of the continent, and its many economies. They know that continuing to drive the integration of the African markets where they do business is one key way to pave the road to greater success.”
Business Hilights recalls that since 2003, when Globacom rolled out services, the company has brought innovation, quality service delivery and unequalled benefits to its subscribers. A proudly African brand, it has grown to become a major player in the African telecom industry offering innovative solutions in voice and data services.
