The African Challengers

Pessimism that Western media has for decades associated with the African continent has started giving room to optimism, particularly in the light of how poorly developed countries are performing economically since a number of years now. The financial crisis of 2008 which impacted seriously on the capitalism system has not gone away yet. In addition, excessively indebted public coffers across Europe and US are persistent evidence of a lack of a definitive solution to structural issues at stake.

In 2010, Boston Consulting Group [BCG] did a survey of African businesses which were standing out against the odds. The firm called them The African Challengers. They tell a different story of what is happening on the continent that negative propaganda continues to spread out. BCG identified forty companies [see list below], whose annual sales range from $350 million to $80 billion. They display a strong growth, an international footprint, and ambitious plans to further expand overseas.

Algeria: Cevital,Sonatrach; Angola: Banko Africano de Investimentos, Sonangol; Egypt : Al Ezz Group, CIB, EFG-Hermes, Egyptair, Elsewedy Cables, Orascom Telecom, Orascom Construction Industries; Morocco: Attijariwafa Bank, BMCE Bank, Maroc Telecom, Office Cherifien des Phosphates, ONA Group, Royal Air Maroc; Nigeria: Dangote Group, United Bank of Africa; Togo: Ecobank; Tunisie: Groupe Elloumi, Poulina Groupe; South Africa: Allied Electronics, Anglo American, Aspen Pharmacare, Bartoworld, Bidvest Group, Datatec, Imperial Holdings, MTN Group, Murray & Roberts, Naspers, Old Mutual, SAB Miller, SAPPI, Sasol, Spoprite, Standard Bank Group, Steinhoff International, Vodacom.

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