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Latecomer Challenge: African Multinationals from the Periphery

In: Globalization

Author

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  • Grietjie Verhoef

Abstract

Multinational corporations have commenced foreign direct investment (FDI) activities since the 1960s by moving operations to resource-rich, low-cost labour and capital markets. Successive waves of outward foreign direct investment (OFDI) since the 1960s and 1970s were motivated by efficiency and market-seeking factors. Since the 1990s, China, Brazil, India, Russia (the so-called BRIC countries), Malaysia, Turkey and South Africa are among the countries expected to add significantly to OFDI growth. The emergence of Emerging Market Transnational Corporations (EMTNCs) makes up a growing proportion of outward FDI, and they acquire an increasing share in foreign affiliates from developed markets conducting business in their regions. This chapter reflects on the transformation of businesses and business practice in Africa, from isolated peripheral actors to global players. This chapter investigates the history of leading emerging market multinational corporations from Africa since the 1980s and points to the implications for future globalisation of EMTNCs.

Suggested Citation

  • Grietjie Verhoef, 2019. "Latecomer Challenge: African Multinationals from the Periphery," Chapters, in: George Yungchih Wang (ed.), Globalization, IntechOpen.
    • Handle: RePEc:ito:pchaps:160327
    DOI: 10.5772/intechopen.81500
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    Cited by:

    1. Ibeh, Kevin & Makhmadshoev, Dilshod, 2018. "Post-acquisition integration behavior of nascent African multinational enterprises," Journal of Business Research, Elsevier, vol. 93(C), pages 255-267.
    2. Judit Kiss, 2017. "South Africa - a re-emerging player in outward FDI," IWE Working Papers 235, Institute for World Economics - Centre for Economic and Regional Studies.
    3. Teboho Bosiu & Thando Vilakazi, 2020. "Competition and inclusive regional economic growth in food production: Barriers to entry and the role of African multinational corporations," WIDER Working Paper Series wp-2020-88, World Institute for Development Economic Research (UNU-WIDER).
    4. Kevin I.N. Ibeh, . "Why do African multinationals invest outside their home region? Should they?," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.

    More about this item

    Keywords

    outward foreign direct investment (OFDI); emerging market transnational corporations (EMTNC); globalisation; strategy; market-seeking; state; change management;
    All these keywords.

    JEL classification:

    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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