Kiishi-Lagos

Increasing tribe of knowledge workers!

 In the last decade, there have been unprecedented flow of investment from multinational corporations into various sectors of the Nigerian economy. Testaments to this flow are the firm roots being established in Nigeria by the likes of Standard Bank trading as Stanbic IBTC, Intel Corporation, General Electric, Microsoft Corporation, Google Inc, Samsung, MTN Communications, Diageo Brands Nigeria, and SABMiller, among others.

 

In spite of the much touted “infrastructure deficit” of the Nigerian market, these multinational corporations are doing good business and are affirming the benefits of hiring, nurturing and retaining first-rate talents within the country and from the Diaspora. A fair number of complacent local businesses without regard for talent are losing them fast to these big corporations that place high premium on intellectual capital. 

Beyond thriving on employee talents, these global firms are also benefitting immensely from the use of consultants - knowledge workers - because of their ability to support rapid business growth in new areas keeping their business steps ahead of competition. Use of consultants has become best practice for global corporations. They are deploying the same approach to gain foothold and stay ahead of competition in the challenging Nigerian market.

To remain competitive and profitable, companies of Nigerian origin - with global ambitions - are taking a cue from multinational firms. Fazed by globalization and the need to orchestrate strategic change, homegrown blue-chips are now hiring consultants. They are looking for innovative solutions beyond the traditional provision of compliance based services - accounting, auditing and taxation - which are the core services central to the success of the “Big Five” consulting firms.  Accenture, Deloitte Touche Consulting, Ernst & Young, KPMG and PriceWaterhouseCoopers are the Big Five.

 

Demand from homegrown firms and multinational corporations for a diverse range of consulting services is on the increase because of Nigeria’s strategic position as the epicenter of Africa’s growth. So it is not surprising that multinational consultancies with specialty in economic, corporate development, and strategy such as Genesis Analytics, Roland Berger and McKinsey are expanding their Nigerian operations. These consultancies and many others of their kind are unwilling to cede their areas of specialty in Nigeria’s emergent knowledge economy to the Big 5.

Genesis Analytics, for instance, is an economic development consultancy that advises governments, development agencies and corporations in emerging markets on competition, strategy, regulation and development. Its areas of practice include natural resources, communications and broadcasting, financial services, healthcare and manufacturing. However, its Nigerian focus is the largely under-exploited financial services sector which is witnessing a new influx of multinational heavy weights such as UBS, FirstRand Merchant Bank and Old Mutual Insurance, as well as expanded operations by Barclays Plc, Standard Chartered Bank and Standard Bank.  

 

 

McKinsey and Roland Berger operate as generalist strategy consultancies. They are competitors in the European market in which McKinsey is the leading strategy consultancy. Both organizations advise global corporations, governments and non-profit organizations on strategy issues ranging from strategy development to performance improvement. Their areas of practice include corporate development, information management, energy and chemicals, pharmaceuticals and healthcare, public services and transportation.

The pedigree of McKinsey, Roland Berger and Genesis Analytics, and their expanded local operations is a pointer to the quality and volume of business coming to Nigeria. This is because the choice of a physical location or a country office by these consultancies often reflects the volume of business they already have in that locale or the potential they expect from same. Using multinational communications consultancies in the advertising and public relations sector as illustration, they usually open shop in countries of interest to their clients. 

By and large, the influx of top consulting shops driving the economic efficiencies of South Africa, Europe, America and Asia into Nigeria is a heartwarming development. It is left for discerning corporations and public sector institutions in the country to leverage their repository of knowledge to leapfrog to global competitiveness.

Adeola Adejokun works for Kiishi-Lagos, a communications consultancy firm. He tweets from @OgbeniAdejokun.