How consultants can make the most of Africa’s era of change
A growing number of UK businesses are turning their attention to Africa as a key market for strategic, long-term growth. Muibat Ijaiya, partner at Strategy Management Partners, explains that the shift comes as structural reforms create new commercial opportunities that demand expert local insight and practical execution support.
New frameworks such as the African Continental Free Trade Area (AfCFTA) - set to become the world’s largest free trade area by country count - and the UK’s Developing Countries Trading Scheme (DCTS) are reshaping trade dynamics. For UK businesses, these policy moves are turning Africa from a high-risk proposition into a region that can diversify revenue streams and unlock sustainable growth.
Momentum behind this shift is also evident in the high-level political push to deepen ties. London Mayor Sadiq Khan’s recent trade mission to Nigeria, Ghana, and South Africa highlights a growing recognition that Africa’s economic rise is integral to the UK’s own global competitiveness.
Our latest research, conducted with 250 business leaders at large UK enterprises, underscores this turning point. Half of UK companies surveyed are already operating in African markets with plans to expand further. Another 28% are actively exploring opportunities but remain cautious about how best to enter - pointing to a clear need for experienced advisory support.
New Africa
The data shows three main drivers. For 61% of UK business leaders, Africa’s rapidly growing consumer markets are the primary factor drawing investment. A similar proportion also cite accelerating technology adoption, which is opening up new digital business models, fintech solutions and innovation hubs. Half of those surveyed also highlight the continent’s young, digitally connected population as a long-term competitive advantage.
Importantly, only 20% cite philanthropic or charitable goals as central to their Africa strategy. This shift demonstrates that for most UK businesses, Africa is now viewed as a strategic commercial market rather than a short-term corporate social responsibility initiative.
Sectors with the most promising outlooks include oil and gas, renewable energy, agriculture, minerals and technology. But the real opportunity lies beyond resource extraction - in building value-added industries, strengthening local supply chains and meeting the demands of an expanding, urbanising middle class.
Where consultants can add value
Alongside the opportunities, the risks remain real and are often a key reason why some UK firms are still on the fence. According to our research, the top concerns are political and country risk (68%), safety and security issues (66.4%), regulatory barriers and tariffs (60.4%), and the complexity of cross-border transactions (60%).
Many organisations will require targeted guidance to build the right local partnerships, comply with complex regulatory frameworks and embed effective governance structures that adapt to the diverse economic and legal landscapes across Africa.
Successful Africa strategies demand local knowledge, careful risk assessments and practical, on-the-ground execution support. From market entry planning to regulatory navigation and stakeholder engagement, consultants can help businesses avoid costly missteps and build models that create long-term value.
Five practical imperatives
The following five key imperatives should form part of the consideration when looking to Africa:
- Design country-specific strategies
Africa is 54 sovereign states, not a single market. Companies must understand legal frameworks, tax regimes, local partnerships and stakeholder expectations for each country. - Prioritise local value creation
The most sustainable returns come from moving beyond extraction to investing in local processing, supply chains and services that meet local needs. - Build local partnerships
Trusted partnerships with local suppliers, community stakeholders or joint venture partners can help firms navigate market complexity and earn social licence to operate. - Invest in local talent
Recruiting and developing local teams keeps market knowledge close to operations and supports stronger governance and compliance. - Align governance and risk frameworks
Sound internal controls, board oversight and robust insurance arrangements help protect operations against political shifts, regulatory surprises or unexpected disruption.
Narrative of a changing continent
Crucially, Africa’s economic narrative is changing. Governments and communities are actively seeking investors and partners who help drive industrialisation, skills transfer and local manufacturing.
For consultants and advisors, this means clients need practical strategies that focus on partnership, innovation and shared growth. By helping businesses structure operations that create local jobs, build resilient supply chains and transfer knowledge, advisors can help ensure that clients not only succeed but do so sustainably.
