BURUNDI has just had one, as has Guinea. That came hot on the heels of the semi-autonomous region of Somaliland’s, which followed Ethiopia’s. Rwanda is bracing itself for one at the beginning of next month, and after that Tanzania, Chad and several others are due to follow. By the end of December a score of sub-Saharan Africa’s 48 countries should have gone to the polls for an assortment of local, regional and national elections. Kenya is also holding a vital constitutional referendum on August 4th. This is a big year for African voters. The electoral calendar has never been so crowded.
This story will bring grin on the face of CEOs, all across the globe. Their companies are involved in bloody warfare in the marketplace. They are spending sleepless nights for gaining extra percent of market share, sweating hard to add few new customers, and traveling all across globe to reduce cost of production and warehousing.
With all these nations rising to democracy from status of authoritarian regimes and failed state, there will be an improved law and order situation, subsequently better administration, higher FDI inflows, spurt in disposable income and ultimately they will become a better and competitive market place.
A careful analysis of past and present of Ghana will help us mapping the future of these nations and marketplace. FDI has grown in geometric progression from below $20 million in 2000 to $761 million in first half of 2010. Country has witnessed a decline in unemployment rate, increase in per capita income. So not only it is serving as manufacturing hub for companies but also it has been a potential market.
Though this transformation won’t be an overnight affair, but business tycoons and CEOs should keep an eye on the rise of Africa and exploit opportunities to beautify their financial books.