Outsized successes

  Six local African companies are giving their globalised competitors a run for their money in their home markets, according to a new report by the US-based Boston Consulting Group (BCG). This is the first time that so many countries from the African region have made BCG's 'Local Dynamos' rankings, highlighting the dynamism of the continent's maturing markets.

While emerging markets have traditionally been dominated by foreign multinationals, the 50 Local Dynamos highlighted in the report are market leaders who are defeating both local and foreign competitors.

These companies tend to mid-sized, with revenues ranging from hundreds of millions of dollars up to a few billion. Despite their limited size, however, their revenues grew by 28 percent during the 2009-2013 period, while shareholder returns increased 26 percent. S&P 500 companies, meanwhile, only grew 5 percent over the same period.

The gains made in African markets are particularly notable, according to BCG partner and managing director Patrick Dupoux. "Clearly, it is part of what we have been witnessing for past three to five years, in that Africa is really drawing in the rest of the emerging markets in terms of growth and in terms of really taking part in the global economy," he tells This Is Africa.

"In recognition of this emergence, [due to] growing interest and growing success, we included more and more of these African companies in this report." The six African countries represented among the "Dynamos" cover a range of sectors from banking to health insurance, commercial retail, agricultural production and real estate development. They also represent a considerable geographical spread, hailing from Kenya, Morocco, Nigeria, South Africa and Zambia.

- See more at: TIAO


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