Economics: when African multinationals establish themselves abroad

If most of the time in Africa, foreign multinationals are leaders of the African market, this last years we have been more and more witnessing the appearance of African companies determined to not let the Western multinationals take over. Those companies have been able to beautifully settle everywhere in Africa and in some regions of the world.

The Nigerian man Aiko Dangote is a good example of a succes story. At the top of a company named after him, he has a  $3 billion US dollars revenue per year. With his branch Dangote cement he is gradually expanding in Africa Sub-Saharan Countries. In 2015, his cement production was to cross the 46 millions tonnes of cement which made him reach number 6 in the worldwide cement business. Allowing him to compete with large western companies like the French Lafarge, the Swiss Holcim and the German Heidelberg Cement.

The Beninese Samuel Dossou- Awore, President of the group Petrolin who managed to successfully expand his market area in the whole continent and in Middle East ought to be held up as an example as well. In Nigeria, this gigantic oil-producer has won a major tender on the oil block OLM 34, crushing by far some international multinationals.

The Egyptian group Orascom is a testimony of the breakthrough of African multinationals abroad. Despise the competition, they managed to admirally settle in the cement business, telecommunications and television in countries like Irak, Nigeria and Pakistan. As proof, since 2015 they ranked as a majority shareholder of the international television channel Euronews based in Lyon, France.

The list is far from being exhaustive since we have other existing African multinationals that are coming out and growing in oil drilling ( Sonatrach in Algeria, Sonangol in Angola, trading (Salan and Bidvest in South Africa), energy (Estom, Sasol in South Africa) and mobile (MTN groups in South Africa).

All those international multinationals are the proud of Africa because they successfully managed to have important revenues. Their achievements are the result of an intensive work in Africa and in other regions of the world for the development of the African continent. Which goes to show that Africa is being more and more aware of its economic potential which needs to be promoted…

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