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Enhancing Export Standards & Equipment Access for Economic Growth

Learn about the key success factors for African businesses, challenges faced in exporting, and strategies to improve standards in packaging and equipment access. Explore EU intervention, economic growth opportunities, and the potential of ICT-driven sectors. Discover how to drive export expansion and strengthen trade relations to boost national productivity and competitiveness.

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Enhancing Export Standards & Equipment Access for Economic Growth

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  1. Improving Standards in Packaging & Access to Equipment Presentation by Macauley Atasie CEO, Nextzon Business Services at the 2018 Agroinvestment Summit, Abuja

  2. Outline • Overview • Key Success Factors • Export Challenges faced by African businesses • Improving standards in exporting & access to equipment…Nextzon points of view • EU Intervention

  3. Overview Economic Growth Local Consumption • Strong Economy • Rising GDP • High Purchasing power • Strong currency • Developed Nation status Imports for Consumption & Production National Productivity LESS Export Market

  4. The truth about us… High on consumption (Local + Imports) • Weak Fragile Economy • Bad Situation – a cycle of poverty persists • Too poor to pay well for anything • But there is a ray of hope… Low on Production (Sell “little” to the world, hence poor currency value)

  5. … But with a good potential Low cost labourers (Per capita GDP $1.994*) ( Young, large and growing population (55.6% of total population) A strategic focus on export could drive massive & rapid economic growth leveraging the above *IMF May 2018 *NPC, 2018

  6. Lack of competitiveness around • Production / Supply capacity • Infrastructure • Information • Institutional support - Incentives • Capacity to meet EU’s stringent quality and packaging requirements. • Poor or lack of standards • Lack of market access However, African Countries face major challenges in Exporting Overseas

  7. Traditionally, major Products exported by African Countries to Europe … 06 According to a 2016 Eurostat report, the following are major exports to Europe in 2016 03 02 04 05 01 Crude Materials except fuel 6.7 billion Energy products 61.5 billion Oil. Fats & Waxes 862 million Beverage and Tobacco 1.2 billion Food & Live Animals 16.2 billion Chemicals 4.3 billion Data Source: Eurostat/ figs in euro

  8. But new opportunities are possible… 03 01 • ICT driven • Global spending at $3.7 trillion (2018) • Investment in Nigeria ICT industry currently at $35 billion • Fintech / Lifestyle Solution • Fintech investments in Africa hit $800 million (2018) • Piggybank, Paga, Remitta are examples 02 04 • Outsourcing • Nigeria’s Business Process Outsourcing market worth $300 million (2017) • Global business process outsourcing market projected to worth $343 billion by 2025 • Software Coding • Nigeria’s software industry worth $18 billion (2018) • Global software industry worth $3 trillion (2018) Data Source: IDC

  9. Also 3 African countries account for major export volumes to EU … • The EU is the most open market for African exports. Most African countries export to the EU on a duty-free quota-free basis, Everything-But-Arms through EU trade policy – Economic Partnership Agreement (EPA) Today 2016 Africa as a whole accounted for 7% of EU-28 imports The main product group exported to the EU-28 was crude oil and natural gas 2015 Data Source: Eurostat

  10. Nextzon Points of View 1.Enthronement of cost and value competitiveness 2.Clear national focus on high demand export goods & services • Natural competitive advantage • Historical competitive advantage • Knowledge of said advantage may be new to us. For example software coding. • Eliminate productivity challenge of power supply, internet capabilities, roads/access to ports, multiple taxation, access to finance, packaging excellence, standardization • By clustering to quarantine excellence • Industrial Clusters • Innovation or ICT hubs • Business clusters • Driving Export expansion grant activities • Improving trade relations with target countries To grow Standards in packaging & access to equipment …

  11. Nextzon Points of View 3.Visibility of a market capable of affording such products & services 4.Mindset shift by all to the opportunity • Access to data on the critical opportunities • Local business market • International market • Capital Providers • Farmers or other SMEs • Merchants • Regulatory bodies • The EU participants To grow Standards in packaging & access to equipment …

  12. Partner to build clusters in Africa Drive capacity of African producers Strengthen Information exchange • Focus Capital • Private Equity • Venture funds • Development agencies Support African producers to meet its sanitary & Phytosanitary Standards To grow Standards in packaging & access to equipment … EU INTERVENTION

  13. Contact Us Welcome to Our world Walking with you to the Next Frontier Segun Olukoya Executive Director Nextzon Business Services Limited segun.olukoya@nextzon.com +234 802 295 1236 For further information: please contact Mac Atasie Managing Director/CEO Nextzon Business Services Limited mac.atasie@nextzon.com +234 802 295 1130 Okechukwu Nzekwu Head, Public Sector North & Agric Nextzon Business Services Limited okechukwu.nzekwu@nextzon.com +234 803 445 1922 Consulting Nextzon is a good business strategy…

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