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.