Aligning with the Frontier 100

FROM THE ARTICLE: BUSINESS GROWTH IN AFRICA

When it comes to investing in Africa, it's a good idea to tap the expertise of someone who has successfully navigated the business-building frontiers of the developing world. And that's where the Frontier 100 comes in.

As part of the Initiative for Global Development, the Frontier 100 is a network that brings together business leaders from the continent and executives from companies in the developed world in a forum-like setting to streamline learning and increase investment in Africa. "The Frontier 100 introduces people from various parts of the world and different industries to local knowledge via partners in Africa—it's something they haven't had previously," says member Anton Roux, CEO, Aon South Africa and Sub-Saharan Africa. "I find that most members contact me when they hit a stumbling block and need to discuss an issue with someone who hasn't got a vested interest in the solution."

Sometimes, that means getting a better understanding of cultural differences, as well as what African workers consider benefits versus what workers in other countries think of as benefits. "For example, I've had people out of the U.S. talking to me who are invested in South African business," Roux says. "They were considering giving housing loans to employees because they had done that in other parts of the developing world. But that's not the practice in South Africa. There's a robust banking infrastructure here [in South Africa], so it's not necessary." Roux's advice then helped shift priorities for the well-intentioned company toward desirable benefits.

While there are four scheduled meetings per year, Roux says members find the in-between time helpful. "It's the contact between meetings that's most valuable," he says. "We can talk about practical issues for expatriates, or explore the economic realities of HIV and AIDS in the developing world. You might be half a world away, but you get a sounding board and experienced, real world-based advice."

The group often pairs business leaders with similar cohorts from Africa, tapping executives from companies that have more than USD50 million in revenue. This way, the African experts can talk about the nuances of business in Africa, but also have an understanding of business issues facing larger enterprises. Together, the group can tackle key issues, like engaging investors and advocating policy changes among African countries, as well as share in best practices. And that might mean accelerated opportunities all around.