A recent survey conducted by ‘The Economist Group’ of 217 global companies based in 45 countries revealed that expansion in Africa is a priority for two thirds of them within the next decade. Despite the various structural challenges in Africa, the continent is becoming attractive for global players because of its youthful populations and a fast-growing middle class. This has implication for competition for market and talent. According to forecast, African annual growth will exceed 6% and its collective GDP will be at $2.6 trillion by 2020
Despite this huge opportunities for African businesses, the Global Competitiveness Index (GCI) has shown majorities of African countries trailing behind among the least competitive in the world and indicates stagnation despite 15 years of strong growth. This is compounded by the under-development of human capital in Africa. United Nations Human Development Index shows that 38 out of 46 of the world’s lowest-ranking countries are in Africa and statistics from UNESCO shows that education levels remain low in Africa, especially in Sub-Saharan Africa where secondary school enrolment stands at 40% on average and the transition rate to tertiary level at 7%.
These factors have made it difficult to find competent professionals and technical skills with organizations struggling to match their human capital requirement with business growth.
According to a report by EY, about 70% of companies’ survey complained about the time it takes to fill critical roles in the midst of higher turnover. This is despite the forecast that Africa is expected to outshine China and India in 2040 by having have the world’s largest labour force. 450 million workers are projected to join the workforce between 2010 and 2035.
The problem is well summarized by CEO of the Dangote Group – Aliko Dangote who says “Skills shortages is one of the major problems that we face in Africa,” “Having comparative advantage is no longer enough. You need a superior talent pool.”
We are driven by the passion to help businesses in Africa surmount all the talent challenges above by articulating a long term talent strategy and short term tactical execution plan.
To become the most respected, digitalized and best practice HR Professional Service firm in Africa.
To leverage global expertise, local perspective, technology and research in enabling our clients achieve competitive business advantage.