The Need for a Contextualized Business Model in African Markets

This chapter provides an overview of what a business model is, what concepts are used in practice, and when to adapt or innovate your business model. A business model is a holistic view of a company’s business approach, covering all aspects of value generation along the value chain. There are internal and external factors that require business model innovation. Among the external factors are different business environments and conditions, such as European companies face when entering African markets. Already many innovative business models exist, many of which make use of digital technologies, that work well in the African context. European companies should consider partnering with local firms in African markets and integrating them into their business model.