7 Reasons for Norwegian Companies to Look to the South African market

South Africa is known for its beautiful beaches and landscape. The country is also known for some of the best wines globally. But the country has more to offer. There is plenty of market opportunities waiting to be grasped. (Photo: Andreas Selter)

  1. A gateway to Africa

Looking to the South African market, opportunities are not only limited to South Africa, but the country can be a gateway to other markets in the region. Johannesburg is one of the largest hubs in South Africa and has connecting flights to all over Africa and to the rest of the world. Strategically located on the tip of the continent, the country is home to some of the largest ports on the continent that features major shipping routes. Bringing Norwegian products and services to the South African market could open opportunities to go into other markets in the region as well.

  1. A growing middle class

The country is an important market on its own, with more than 50 million people and the biggest middle class in Africa. The growing middle class bring increased consumption and a demand for new products and services. Norwegian companies should cease the opportunity to bring their products to this huge market. For example, Norwegian salmon is already to be found in restaurants all over South Africa.

  1. Major events and conferences

Another reason to look to South Africa is that each year, many large business events and conferences are hosted in South Africa. Some of the largest conferences in Africa within technology, the maritime industry and the green energy sector are hosted in South Africa. This brings great opportunities to network and keep up with the newest technology and market opportunities on the continent.

  1. Opportunities for entrepreneurs and startups

Especially in Cape Town and Johannesburg, new incubators and accelerator programs are popping up. This clearly shows that the city is attracting interest. Cape Town is deemed Silicon Cape by some and has the ecosystem to support new venture, including a skilled workforce and infrastructure. The list of issues that the country is facing can also be opportunities for entrepreneurs to address. Whether it be mobile communication, health care, internet access, waste management and many other industries. There is plenty of room for the private sector to develop new innovative products and services in the areas where the government is struggling.

  1. South Africa is looking for green options

The country is looking for green options as they need to provide energy, water, housing and food to a growing population. Green buildings and infrastructure is a priority as the cities are growing bigger. The government is also looking to support sustainable green energy initiatives on a national scale through a diverse range of clean-energy options. Norwegian companies could bring solutions to clean energy provision, greener buildings and climate friendly urban planning.

  1. Ease of doing business

South Africa have a free trade agreement with Norway through the EFTA-SACU free trade agreements which includes industrial goods and processed agricultural products. This eases the way of doing business in the country. South Africa is visa free for up to three months for Norwegians which makes travelling there easy. The two countries are also in the same time zone which makes it convenient when scheduling virtual meetings or phone calls without having to change working hours.

  1. A growing Maritime Industry – an opportunity to participate in New Global Growth Program focusing on this exciting sector

South Africa is uniquely and strategically positioned at the southern point of the continent to take commercial advantage of opportunities arising from the level of ocean traffic. The biggest and most developed ports in Africa are based along the coast.

Green Shipping opportunities include alternative bunker fuels such as LNG and hydrogen as well as hybrid systems including electric engines. Opportunities exist for waste management facilities and systems, programs for environmentally sustainable shipping operations along South African waters and in ports, emission abatement technologies and emission control.

The local ship builders are interested in partnering with companies offering design services, materials and components in order to build more efficient vessels for the local and African market.

There are solid business opportunities in the following areas: Fishing Industry, Green solutions for Shipbuilding and Repair, Maritime Training and Smart & Green Ports.

Please contact heidi.dahl@innovationnorway.no  for more information about market opportunities in South Africa.

 

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