International Expansion: The Lions Venture Abroad

Abstract

The evolution of African Founded Firms from domestic challengers to multinationals enterprises, the so-called African Lions, was as rapid as their growth in their domestic markets. Buoyed by their improved market positions, African Lions ventured into new territories to compete with host country incumbents including MNCs. Their cross-border expansion was first into neighboring countries, and eventually into other parts of Africa. International expansion gathered pace as changes within the African context created opportunities for an attractive and expanded marketplace. Meanwhile African governments intensified their drive to attract investments by offering incentives to foreign and domestic investors alike, while also ramping up efforts at regional and continent-wide integration.