Global Intelligence Alliance Group (GIA) launched a Regional White Paper, "Market Intelligence for Africa", that highlights the challenges of conducting strategic research and analysis on the continent. These are namely;
• Diversity across the 53 countries in Africa
• The lack of structured and reliable information
• Corruption and bureaucracy
• Rapid economic and sociopolitical changes
The GIA Regional White Paper offers some solutions to overcoming the inherent market intelligence challenges in Africa, through the combined expertise of two GIA members in Africa; RV Conseil in the North and Butterfly Effect Intelligence in the South. The Paper states that quality information in Africa is mostly unregistered or even considered classified in some areas.
"There are no universal standards and protocols for Market Intelligence. In many cases, local economic and financial reporting and information systems are opaque. In some places, money can still be a taboo subject and families who own private businesses are not eager to disclose information. Sources will also be different from one country to the other," said Mr. Stéphane Rosenwald, President and Chief Executive Officer of GIA Member company for France and Northern Africa, RV Conseil.
The GIA Paper starts with an overview of the key economic indicators in Northern and Southern Africa as well as some of the opportunities that abound within them, and closes with a few market intelligence best practices within the African context. Four case studies provide further insight into these best practices and demonstrate the unique environments that can be found in Africa.
"Many of Africa’s countries have sound economic fundamentals and offer largely untapped potential. The African landscape however, is constantly progressing and changing. As a result, information in general is a highly perishable commodity.
It is critical to monitor news and signals in order to identify the trends that will shape the future of business in the continent. Numerous progressive companies have learnt to overcome the challenges of doing business there, with the right market intelligence support, to enjoy positive return on investment," concluded Mr. Stuart Maclachlan, Chief Executive at GIA Member company in South Africa, Butterfly Effect Intelligence.
The GIA Regional White Paper 1/2009: "Market Intelligence for Africa" can be downloaded for free at www.globalintelligence.com.
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