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Africa’s markets are brimming with potential and opportunity – from emerging tech ecosystems in Nairobi and Lagos, to renewable energy surges across the Sahel, and infrastructure revamps from Cairo to Cape Town. But with promise comes complexity. For businesses and investors, the challenge is not in finding opportunity, it’s in verifying it. That’s where opportunity assessments come in.

Far too often, decisions to enter a new market, invest in a new vertical, or launch a new product are driven by ambition, not evidence. Opportunity assessments are the antidote. They offer a structured way to test assumptions, validate demand, assess risk, and tailor strategy before significant resources are deployed. In a region as fast-changing and fragmented as Africa, this kind of due diligence is essential.

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Business development is often misunderstood as sales by another name. But in Africa’s fast-evolving commercial and development ecosystems, it has become something much broader and more essential. It’s the work of discovering opportunities, designing entry points, and creating long-term value through insight, partnerships, and positioning. It’s not just about growth; it’s about intentional growth.

For both private enterprises and mission-driven organisations operating across the continent, business development and strategic support are how ambition becomes action. They offer a structured way to assess risk, identify whitespace, and connect high-level goals to on-the-ground realities. As competition intensifies and geopolitical and economic currents shift, African markets are demanding sharper strategy and more adaptive models. The organisations that succeed will be the ones that treat business development not as a reactive function, but as a continuous, insight-driven process. 

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In On Africa (IOA) is a research and intelligence firm that specialises in providing data-driven decision-making support for businesses and organisations that operate in Africa, as well as entities that are looking to expand into Africa.

IOA offers a wide range of research services, including market attractiveness studies, competitor intelligence, consumer research, geopolitical research, due diligence and more. IOA’s research projects often employ mixed-method research designs, combining various research methods and techniques to gather and analyse data effectively.

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Market research is a crucial aspect of global expansion for businesses as it helps companies identify new opportunities, understand consumer behaviour and make informed decisions. By conducting thorough market research, businesses can gain valuable insights into African markets, including market trends and regulatory requirements. Companies can take advantage of the significant business opportunities that Africa offers through leveraging the power of doing research in these markets.

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In On Africa (IOA) is a leading research and advisory firm specialising in providing data-driven insights to guide decision-making for businesses, organisations and governments in Africa. 

IOA’s success is driven by its four core competencies: 

• Primary and secondary research
• Qualitative and quantitative analysis
• Data synthesis, insight and strategy
• Report development, dashboards and workshops

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Africa is home to approximately 1.2 billion consumers today, projected to increase to 1.7 billion by 2030¹ . The potential for future growth in consumer spending is significant. But in order to expand, companies require insights into how people in Africa choose the products and services they use and how consumer needs and interests are changing. What drives decisions around which bank to join, where to buy clothes or what legal advisor to use? And why are informal stores and street vending so popular? To answer these questions and more, market research is required.

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Good-quality research enables organisations to make evidence-based decisions relating to a wide range of pursuits, such as:

• identifying new business opportunities,
• understanding customers better,
• evaluating the competitor environment,
• identifying and planning for business risks,
• interrogating relevant regulations and policies, and
• assessing the organisation’s culture and climate.

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Market research is the process of gathering information about a specific market, including its customers, competitors and industry trends. It involves collecting and analysing data to help businesses make informed decisions about their products or services.

In previous articles, we’ve spoken about the importance of conducting primary market research in Africa and the indicators of good-quality research. In this article are the steps business leaders should take when thinking about their need for market research. Ideally, these steps should be undertaken by the company internally and then refined with a market research service provider, such as In On Africa (IOA).

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