Managing partner for research firm – Indago Africa, Gordon Biaku, is urging businesses to conduct a comprehensive market research of countries they wish to invest in, before participating in the African Continental Free Trade Area (AfCFTA).
“First and foremost, understand your trade locally. Number two, of which of all the countries you want to venture, Nigeria, South Africa and the like, get local knowledge. If possible, get local partnerships, they can help with local knowledge,” he said.
He also emphasised the need for interested businesses to master the trade in their home countries before considering international expansion.
Speaking with Nhyira Addo on the Big Conversation, a segment of the Business Connect show, Mr. Biaku stressed the need for local knowledge of the environment businesses would want to operate in.
“Once you have local knowledge of what they need and what works for them, then it will be easier for you to penetrate those markets.
“Do not just think that there’s an opportunity that whatever clothes I sew, when I ship them to Nigeria, Sierra Leone or to Liberia, it will sell. It doesn’t work like that,” he said.