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Africa in 2018 Outlook Conference
The Africa in 2018 Outlook Conference, held in January, brought together global thought-leaders and speakers including, Rob Shuter, Group President and CEO, MTN Group and Raghu Malhotra, President, Middle East and Africa, Mastercard. The conference was a must-attend event amongst South Africa’s corporate elite.
Key takeouts from this report
- Though sub-Saharan Africa’s (SSA) key economies of Kenya, Nigeria and SouthAfrica have suffered their share of political and economic turmoil, a slow turnaround is starting to materialise in these three economies and this is likely to be very positive for neighbouring countries over the course of 2018.
- As a keynote speaker, Rob Shuter discussed that from MTN’s perspective, several factors and core principles have contributed to the firm’s success of building a customer base of more than 200 million subscribers across 22 markets. A number of principles that underpin the success of businesses in Africa include building a strong market position while maintaining a challenger mindset, a strong brand, modern technology and great people.
- Modern globalisation has resulted in a new era for humanity, lifting billions of people out of poverty and into the middle class. However, over the last 40 years there has been a widening in the rift between the have and have-nots. Recent political and economic developments have shown that people have forgotten that a stable society cannot be created without inclusive growth.
- Underlying some of the key challenges are past injustices and inequalities faced by Africans. These challenges include finding good and reliable local partners across the continent, involving local suppliers across value chains and promoting empowerment by supporting SMEs.
- African economies should adopt industrialisation policies for the right reasons. If the African story is to be a successful one, it is imperative that all relevant participants treat industrialisation not as a once-off event, but rather as an ongoing, well-thought-out plan.
What our experts say
Inclusive growth is ever more imperative for socioeconomic stability on the continent and corporates and governments will be increasingly tasked with the challenge of coming up with meaningful solutions to achieve this in the years to come.
Call to action
Download the report for a full summary of the discussion.
How can Deloitte help
Contact us on how you can take advantage conditions in the African business environment.