LAGOS, Nigeria; 23rd April 2018
Fully integrated telecommunications solutions provider, Globacom, has been named one of the African companies pioneering integration on the continent.
In a report by the Boston Consulting Group (BCG) entitled, ‘Pioneering One Africa: African Corporations Trail-blazing across the Continent’, the telecoms operator was listed as one of the six African companies driving the amalgamation of economic activities within the continent. The others are Dangote Group, Guaranty Trust Bank, United Bank for Africa and Jumia.
BCG identified 150 companies that are blazing a trail toward a more integrated Africa. They consist of 75 Africa-based companies and 75 multinational companies that have established impressive track records in Africa and are contributing to further integration of the continent.
The African pioneers come from 18 countries on the continent including South Africa, Morocco; Kenya, Nigeria, Egypt, Côte d’Ivoire, Mauritius, Tanzania, and Tunisia. The multinational companies also listed in the report are mainly from France, the United Kingdom, and the United States, while the rest are from China, India, Indonesia, Qatar, and the UAE.
The report stated that despite the barriers of fragmentation which exist in Africa, economic integration on the continent is not only taking place, but also gathering momentum, with Globacom and the other listed companies driving the process.
BCG highlighted eight factors that explain how these companies are making their impact felt on the continent. These, it said, include: “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”.
BCG Senior Partner and co-author of the report, Patrick Dupoux, 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.”
Another partner and report co-author, Lisa Ivers, said: “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.”
Globacom has over the years built a reputation as an authentic African brand offering innovative solutions in voice and data services, thereby making telecommunication services more accessible to all in the markets it operates