Doing Business in Africa programme will drive African Continental Free Trade Agreement (AfCTA) success

Africa is home to six of the top ten fastest growing economies in the world and US exports to sub-Saharan Africa now top $21 billion a year. Executives desirous of expanding their business into other parts of Africa must grapple with a host of challenges such as the diversity in the contexts, cultures, regulatory systems, macroeconomics, and other variables. The African Continental Free Trade Agreement (AfCTA), which aims to connect 55 African countries, creating a market of 1.3 billion people, aims to enhance the attractiveness and competitiveness of African countries by creating opportunities for African and Non-African businesses in areas such as manufacturing, agriculture, services, and e-commerce. AfCFTA is expected to deliver greater market opportunities, more trade, increased investment, and??value addition ultimately resulting in higher levels of productivity and growth. The full benefits of AfCFTA will come when African states make the required investments in trade enablers and businesses enhance their strategies and approaches to execution in the continent. It is now very important that executives of international organizations better understand the structure, nature, and approaches to doing business in Africa.

To help stakeholders harness the emerging opportunities, Lagos Business School (LBS) is introducing a Doing Business in Africa programme starting in August 2021. This certificate course aims to provide senior business executives with an overview of the most critical aspects of doing business in Africa. This will enhance their overall understanding of the structure and nature of the economies in the continent and equip them with the skills and tools they shall require in developing effective strategies for establishing business in Africa or bringing already established foreign businesses to Africa.

Commenting on the new addition to the LBS rich portfolio, Dr. Nkem Iheanachor, the programme director, said “Africa is undoubtedly one of the world's big growth markets whose potentials have gained global?prominence with the signing of the landmark agreement that establishes the African Continental Free Trade Area. In this course, we shall help participants understand the lay of the land and equip them with the?tools, frameworks, and strategies that will enable them to succeed as they bring their business to Africa or take their business from one African market to another."?

The participants expected on the programme include: ?

·?International executives of non-African companies who are desirous of establishing a presence in Africa or expanding their businesses to Africa.

·?Senior executives and leaders in organizations who have been assigned to work in international locations of their local companies within Africa.

·?CEOs and owners who are desirous of taking their businesses international to African countries and beyond.

Speaking on the new programme, the Dean of the Lagos Business School, Professor Chris Ogbechie, said that the “course provides an in-depth understanding of how business enterprises in the African region operate and the business strategies required to effectively work with African partners.” ?

The major benefits for participants include:

• A profound understanding of the competitive context and business environment in Africa
• An in-depth analysis of the alternative strategies and organizational models applicable not only within the region but across it
• An assessment of the balance between cultural differences, national governments, and the global perspectives of firms
• Strategies that can aid companies adapt their local home country strategy to the needs and peculiarities of the consumers they are targeting in the new African countries.

The “Doing Business in Africa” course is a modular programme with twelve modules.?Each module is an intensive programme featuring a mix of lectures, discussions, case analyses and workshops where you will analyze your own specific challenges. The twelve modules are:?

Module 1 – Understanding political and macroeconomic environments in Africa.

Module 2 – Developing effective business strategies in different markets.?

Module 3 – Managing people in Africa.

Module 4 – Risk management in Africa.

Module 5 – Managing regulatory compliance in Africa.

Module 6 – Developing effective sales and marketing strategies in Africa.

Module 7 – Supply chain management in Africa.

Module 8 – Tax planning and management in Africa.

Module 9 – Business ethics and social responsibility in the African context.?

Module 10 – Cultural dimensions of negotiation in Africa.

Module 11 – Corporate Governance in Africa.

Module 12 – Brand building and reputation management in Africa.

Upon successful completion of all twelve modules and the action learning project, you shall be awarded a Lagos Business School certificate in Doing Business in Africa and membership of the school’s prestigious alumni association.

For more information on the LBS Doing Business in Africa certificate course, visit www.lbs.edu.ng or call Efosa on 07080070550, Obinna on 08086726686, Ifeoluwa on 08027557248, Toba on 07080070553. Alternatively, you can send an email to:?[email protected]

Lagos Business School (LBS) is the graduate business school of Pan-Atlantic University.?LBS has been ranked every year, since 2007 by the Financial Times of London, among the top global providers of open enrolment executive education and in custom executive education since 2015. The latter ranked number one in Africa on the 2020 Financial Times list. LBS’ MBA programmes have held Tier One positions on CEO Magazine’s Global MBA rankings for three consecutive years.