Lessons from WhyAfrica’s annual Road Trips
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Lessons from WhyAfrica’s annual Road Trips
From start to finish the WhyAfrica Road Trip is a classroom for anybody interested in Africa.
By Leon Louw founder of WhyAfrica and Endorphin Expeditions and editor of the WhyAfrica magazine.
Preparing for the annual WhyAfrica Road Trip through Africa, is very similar to entering an emerging or frontier market as an investor, a company looking to expand its geographic footprint, or even someone looking to find a job, or to live in another country.
An emerging market is a country with fantastic opportunities, but its economy is not fully developed yet. South Africa is a good example.
A frontier market, on the other hand, is in the early stages of economic growth and industrialisation, offering high potential returns but presenting higher risks. Examples in Africa include Kenya and Nigeria.
Preparing to enter
Entering both markets require careful preparation, strategic insight and a strong appetite for risk and uncertainty.
WhyAfrica’s planning for the road trip starts one year before we hit the road. After studying a map (I still like old school printed maps) I do a thorough desk top study and risk assessment (this is where AI comes in handy these days) before engaging local business chambers, government bodies and potential sponsors and partners who have experience in the region (it is important to look at a region and not only at one specific country).
Gathering information and intelligence
As a journalist, getting information and gathering intelligence is one as my favourite things to do. I also read widely, make mental notes everywhere I go and watch a range of diverse news channels and video clips to find out about risks and opportunities.
A proper due diligence is critical, including legal, financial and environmental evaluations as these markets often have limited transparency.
On the ground on the road trip
Then I get to my favourite part of this process, a fact-finding expedition or on-the-ground visit to the region (the WhyAfrica Road Trip and our sister company Endorphin Expeditions’ specialist tours), which is crucial to gain a practical understanding of the operating environment, challenges, opportunities, political climate and the historical, cultural and economic context, and to test assumptions, and assess logistical realities.
Proper communication and marketing
Here it is important to be more than just flexible, you must be prepared to change plans at a whim.
Lastly a proper communication strategy and marketing plan is essential when entering a continent like Africa.
Frontier markets rely heavily on trust, reputation and relationship-building so clear, culturally sensitive communication is essential.
Imagine if you could get all of the above in a one-stop shop, including that fact finding expedition.
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Image: Studying old school printed maps are still as handy as ever before. Image credit: Leon Louw for WhyAfrica.
Lessons from WhyAfrica’s annual Road Trips
