Education and Development
At a time when doing "ethical" business in Africa, there is a lot of debate about what to focus on as an entrepreneur. In fact, the cultural diversity throughout the continent is so varied that even longtime business owners must get problem counsel about doing selling and buying in African countries. There are even special academic scholarships on offer from large corporation as a way and means to show the African people that their intent is positive.
Focus on corporate social responsibility
Another aspect of doing ethical business in African nations is linked to the view that better business is always about doing the right thing. There is even a special United Nations term for this dubbed "Corporate Social Responsibility." The aim of CSR is to assure people in third world nations that the international business world has set standards and a code of conduct when it comes to selling and buying in foreign lands such as Africa. There is a long list of international business firms that operate throughout Africa today while using comprehensive CSR policies that are approved by various African governments.
Economic enterprises in Africa
While Corporate Social Responsibility may sound good on paper, the view from African nations is real assurance from firms that their workers will "behave ethically" while in the country. They also want companies to contribute to local economic development and quality of life programs. The focus for African leaders when it comes to allowing foreign business interests in their nations is always about true sustainable development and fair treatment.
The benefits of doing business in African nations include
- Establish standards of health and safety
- Low taxes and local infrastructure costs
- Reasonable pay rates for local skilled workers
- Great support from local governments
In general, there are many African nations that view outside investors and businesses as a positive activity due to a long track record of ethical practices. The CSR effort means that private enterprise in Africa today is helping society while making a profit. The main aim of private enterprise in dozens of African nations is linked to true fair trade movement based on ethical partnerships that are becoming the gold standard internationally, say longtime business owners commenting online.
Helping African workers
The view from many top business firms now operating in African nations is local workers can be trained for a wide variety of jobs. This translates to a win-win for both large and small enterprises that require local workers to pack, store and process goods being bought or sold in country. A recent United Nations economic report for Africa noted that many international businesses are providing a "critical economic edge" for African nations when it comes to industries including oil, energy and gas.
There is also a business boom being reported throughout the African continent in terms of agriculture, aviation and information technology startups.
Overall, there has never been a better time to consider doing business on the continent of Africa. There are thousands of international corporations doing big business in African nations while this trade relationship is developing into one of the business world's biggest success stories.