Providing African Solution Through Limitless Trade

By Soko Directory Team / Published May 6, 2022 | 11:58 am




KEY POINTS

Ancestral House Eastern Africa was launched to help address the issue of access to African markets beyond domicile countries. It seems to be simpler to export goods out of Africa than within when the trade potential is US$ 1 billion.


Africa

KEY TAKEAWAYS


In Sub-Saharan Africa, for instance, SMEs are one of the biggest formal employers. According to the African Development Bank, 22 percent of Africa’s working population are starting businesses. In as much as this potential is promising, entrepreneurs in Africa continue to face immense challenges.


Africa is a great continent with huge trade potential. Africa is one of the continents where every natural resource is found and yet, it is among the poorest. The continent is rich, yet poor. For years, as Africans, we have failed to harness our home-grown full potential to offer real solutions.

Entrepreneurship is increasingly seen as a key to growth in Africa and trade is the only way that can open up the continent to harnessing its full potential. This is one of the generators of employment opportunities in the continent, employing about 86 percent and contributing about 45 percent to GDP in most countries across Africa.

According to Ancestral House Eastern Africa, global e-commerce platforms with vast networks and aggregated distributors have significantly lowered the cost of buying goods across markets, with delivery times of between two (2) – fourteen (14) days at the click of a button.

Such platforms have empowered customers of the FMCG market and increased the pocket share of the FMCG global players but have increasingly left out African producers and manufacturers.

In Sub-Saharan Africa, for instance, SMEs are one of the biggest formal employers. According to the African Development Bank, 22 percent of Africa’s working population are starting businesses. In as much as this potential is promising, entrepreneurs in Africa continue to face immense challenges.

Some of the challenges facing the SME sector in Africa include lack of capital, market access, skills training, as well as administrative barriers. The key to African economic power is in the hands of the private sector and needs to be tapped as soon as possible.

At the same time, in the Sub-Saharan region, about 40 percent of the population is under the age of 15 years. This makes Africa the “youngest” continent in the world. With a youthful and energetic population, Africa’s potential is unmatched.

Ancestral House Eastern Africa was launched to help address the issue of access to African markets beyond domicile countries. It seems to be simpler to export goods out of Africa than within when the trade potential is US$ 1 billion.

Ancestral endeavors to mitigate market dislocations include:

  1. Lack of market information.

  2. Inexperienced exporters/importers.

  3. Poor logistics infrastructure (Human/Govt problems).

  4. Inefficient cross-border payment systems/infrastructure.

  5. Cultural differences, gaps, trust deficit.

  6. Varied Competitive landscape (mindset, self over collective, gap occupied and guarded jealously by Asians/Middle-Easterns).

“The promise of Africa has through our history hovered above us almost like an ideal, something wished for but unattainable, whereas the African land space is variously blessed in resources and abundant talent to fulfill this promise.

Over time, multidimensional dislocations have stymied the emergence of an integral and prosperous African collective,” said OSE IMOUKHUEDE, the Chairman of Ancestral.

Ancestral said in a statement; “We are the preferred channel for the exchange of premium goods and services in Africa. We are connecting producers and consumers of goods and services across Africa through technology-driven go-to-market information and expertise.”

Read More About Ancestral Here.




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


More Articles From This Author








Trending Stories










Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE



ARCHIVES

2022
  • January 2022 (293)
  • February 2022 (329)
  • March 2022 (360)
  • April 2022 (294)
  • May 2022 (271)
  • June 2022 (232)
  • July 2022 (278)
  • August 2022 (130)
  • 2021
  • January 2021 (182)
  • February 2021 (227)
  • March 2021 (325)
  • April 2021 (259)
  • May 2021 (285)
  • June 2021 (273)
  • July 2021 (277)
  • August 2021 (232)
  • September 2021 (271)
  • October 2021 (305)
  • November 2021 (364)
  • December 2021 (249)
  • 2020
  • January 2020 (272)
  • February 2020 (310)
  • March 2020 (390)
  • April 2020 (321)
  • May 2020 (335)
  • June 2020 (327)
  • July 2020 (333)
  • August 2020 (276)
  • September 2020 (214)
  • October 2020 (233)
  • November 2020 (242)
  • December 2020 (187)
  • 2019
  • January 2019 (251)
  • February 2019 (215)
  • March 2019 (283)
  • April 2019 (254)
  • May 2019 (269)
  • June 2019 (249)
  • July 2019 (335)
  • August 2019 (293)
  • September 2019 (306)
  • October 2019 (313)
  • November 2019 (362)
  • December 2019 (318)
  • 2018
  • January 2018 (291)
  • February 2018 (213)
  • March 2018 (275)
  • April 2018 (223)
  • May 2018 (235)
  • June 2018 (176)
  • July 2018 (256)
  • August 2018 (247)
  • September 2018 (255)
  • October 2018 (282)
  • November 2018 (282)
  • December 2018 (184)
  • 2017
  • January 2017 (183)
  • February 2017 (194)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (189)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (164)
  • February 2016 (165)
  • March 2016 (189)
  • April 2016 (143)
  • May 2016 (245)
  • June 2016 (182)
  • July 2016 (271)
  • August 2016 (247)
  • September 2016 (233)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (164)
  • April 2015 (107)
  • May 2015 (116)
  • June 2015 (119)
  • July 2015 (145)
  • August 2015 (157)
  • September 2015 (186)
  • October 2015 (169)
  • November 2015 (173)
  • December 2015 (205)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950