Challenge: How do you as a national business agency help your companies assess African market opportunities in the most cost effective manner?
(1) The customer:
Finpro helps Finnish SMEs go international, encourages foreign direct investment in Finland and promotes tourism. It is a public organization and the umbrella for Export Finland, Visit Finland and Invest in Finland. Finpro manages major national projects including Cleantech Finland, Future Learning Finland and FinlandCare.
(2) The challenge:
Finpro needed to identify and benchmark business opportunities in three industries across a number of select African business hubs. The aim was to obtain market data and insights, prioritise the African markets for the respective industries and then arrange business delegations and matchmaking activities.
(3) The journey:
Previous assignments had been given to entities in Finland and which then would outsource or work with infield support to deliver the output. This would often drive up the price, be missing up-to-date data and market insights and not provide the contacts to build on for a next phase or follow-up.
(4) The discovery:
Whereas data is relatively easily available in western markets this is not the case in most developing markets and especially not in Africa. Sources are scattered, and data is often outdated and moreso in fast moving technology driven industries. Whereas international research houses may have African industry reports they are expensive and often inadequate and not meeting the data need of small and medium sized companies.
(5) The solution:
Desktop research backed by input from industry experts provided the information and data background. Interviews were then conducted with top management representatives from 20 companies in the three industries to gain further insights into the actual opportunities there could be for Finnish technologies companies. Finpro selected and attended a number of the interviews.
(6) The result
A market opportunity report was handed over to Finpro highlighting specific opportunities in the concerned industries and listing the key players and relevant contacts. Finpro would receive similar reports for other African business hubs and then based on the comparative data advice Finnish companies on where their matching opportunities are.
How can we assist your business?
Contact us for a dialogue on how we can help your business in or into Africa.
We delivered the assignment in a cost effective manner and based on the latest information and data while building introductory relations on behalf of Finpro and Finnish companies with potential Kenyan technology buyers and partners.