African opportunities as Security Print Solutions look to expand to new markets
It is no secret that many businesses are growing more excited by Africa. The continent is home to the world’s largest free trade area and 1.2 billion people, many of whom are moving out of poverty and possessing disposable income for the first time.
Sub-Saharan Africa will have grown 2.6% as an average over 2019, but this statistic hides some of the fastest growing economies in the world (Ghana and Rwanda are good examples of these).
Some of the more well-known giants of the business world, Nigeria and South Africa, have slowed down in recent years, something that may scare off investment. Trading with Africa is tricky. Corruption is rife in many countries, while disease, natural disasters and authoritarian governments create huge barriers to infrastructure.
One UK based company that knows this better than most is Security Print Solutions, formed with the sole aim of preventing counterfeit and fraud.
In their best practice article for The Parliamentary Review, co-owners Jim and Michael Crowther wrote ‘in developing countries, whose legal and commercial systems are still in a state of maturation, our services are particularly useful’. While diplomatically phrased, the brothers are essentially saying that a lot of their overseas work has been traditionally used in difficult countries where trust often runs thin. Effective, secure documentation is therefore key to helping these economies grow.
However, as the company continues to progress, their possible markets are expanding. After cutting their teeth in a typically challenging environment, they will have a lot to show for themselves when accessing ‘European, Commonwealth and developing countries’. Having patented their processes, the company is uniquely qualified to perform at the highest level in their industry. The Crowthers believe ‘there will be enhanced opportunities to established stronger ties in all parts of the world’, a prospect they ‘look forward to’.