Nigeria increasingly the head office location of choice

More and more
international companies
are relocating their
head offices to Nigeria
as ongoing reform and
growth propel it to
become Africa’s biggest
economy.
According to Celeste
Fauconniers, an analyst
with Rand Merchant
Bank, it is only a matter
of time before Nigeria
overtakes South Africa as
the biggest economy on
the continent.
“We are seeing a
definite trend evolving
of international
companies moving their
headquarters from South
Africa to Nigeria,” she
told FTW.
And while it is not
happening as fast as
many expected and
while companies are
not necessarily already
moving, what is becoming
more prevalent is the talk
of going to Nigeria.
“Most companies still
have their headquarters
in South Africa as it is
still the hub and gateway
into Africa. It is, however,
changing and we are
definitely seeing more
and more companies
contemplating moving
their headquarters to
Nigeria to be closer to
their operations in the
West and East African
regions. And yes, we
have seen an increasing
trend of companies that
have already moved to
Nigeria.”
With an expected GDP
growth of 7-10%, Nigeria
is proving to be one of
Africa’s big success stories
with expectations and
forecasts that the country
will double its economy in
the next 5-10 years.