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Currently, the African consulting industry is estimated to be worth over $2 billion and is growing at a rate of around 5-7% per year. An interesting statistic in the last 3 years is that small, niche consulting businesses are growing at close to 20% p.a. This is a significantly higher rate than medium to large firms. From our experience running a consultancy firm, companies are looking for more specialist offerings and a more intimate client-consultant relationship. We have also seen many smaller and family-owned businesses turning to consultants to help them navigate the changing business environment, brought about by digitalization. These smaller and family owned businesses are likely to work in unique market niches and need more than what a standard management consultancy can offer. At the same time, the businesses have smaller budgets as cash flows might be tight and are generally not able to afford the larger firms’ rates.
Larger corporations are likewise moving to a more specialized approach to digital project management consulting, breaking down needs into more specific niche areas. Similarly, there is a move to industry niche consultancy. There are now multiple demands and nuances in every industry that require consultants with extensive and specific experience to handle. This is good news for freelance or independent consultants. It leads to a revolution on its perception.
Consult Afrika Team
