Bank’s advisory service provides link to local contacts

In 2009 the Harvard Business Review declared that it was a good time to invest in Africa. And bankers agree. According to Nedbank’s Paul Burket, Africa showed surprising resilience during the 2009 financial crisis with a growth slowdown that was less striking than many other emerging markets and significantly less dramatic than the outright declines of developed markets. “Africa is well positioned to grow and to yield positive returns, while the impressive growth is also directly related to the increased political stability on the continent.” Considered to be one of the biggest emerging markets, many businesses are expanding on the continent. Burket says a well planned and executed strategy is crucial for success. “Being introduced to the right people and working with trusted partners is just as important.” And according to Burket, LocalKnowledgeAfrica was formed for this precise purpose. “This is a strategic advisory service of the Ecobank Nedbank Alliance that supports companies by giving them access to local contacts with an extensive knowledge of African countries. The Alliance’s footprint enables it to support client expansion across the 35 African countries in which it has a presence and ensures that these clients have an intrinsic understanding of these markets to ensure that they can compete effectively with local businesses.” He says these solutions are based on an understanding of the important role that relationships play in African business, and an ability to enable clients to access and build these critical relationships with their clients, local government, and regulators.