The Changing Dynamics of International Business in Africa

AIB Sub-Saharan Africa (SSA) Series

Series Editors:

Ifedapo Adeleye, Lagos Business School, Nigeria Lyal White, University of Pretoria, South Africa Sub-Saharan Africa has recently been cited as the “next frontier for growth”, and academics across business disciplines are increasingly focusing on this specific territory of study. The AIB Sub-Saharan Africa (SSA) series addresses topical issues concerning this emerging market. With contributions from leading scholars in the field composed of Africans in the diaspora, non-African scholars with a keen interest in the region and African scholars and consultants who reside in the region, the series is uniquely multidisciplinary in nature with contributions from the core business disciplines including strategy, entrepreneurship, marketing, international business and human resources management. Other interesting areas will include political economy, economic geography, development economics and international economics.

Titles in the AIB Sub-Saharan Africa Book Series include:

Ifedapo Adeleye, Kevin Ibeh, Abel Kinoti and Lyal White ( editors ) THE CHANGING DYNAMICS OF INTERNATIONAL BUSINESS IN AFRICA

The Changing Dynamics of International Business in Africa Edited by

Ifedapo Adeleye Lagos Business School, Nigeria

Kevin Ibeh Birkbeck, University of London, UK

Abel Kinoti Riara University, Kenya

and

Lyal White Gordon Institute of Business Science, South Africa

Selection, introduction and editorial matter © Ifedapo Adeleye, Kevin Ibeh, Abel Kinoti and Lyal White 2015 Remaining chapters © Contributors 2015

All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission.

No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS.

Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages.

The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988.

First published 2015 by PALGRAVE MACMILLAN

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Softcover reprint of the hardcover 1st edition 2015 978-1-137-51652-7

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v

Contents

List of Figures vii

List of Tables viii

Series Editors’ Preface x

Preface xii

Acknowledgments xiv

Notes on Contributors xvi

1 The Changing Dynamics of International Business in Africa: Emerging Trends and Key Issues 1

Ifedapo Adeleye, Lyal White, Kevin Ibeh and Abel Kinoti

Part I Inward FDI to Africa: Emerging Patterns, Challenges and Research Agenda

2 An Empirical Analysis of the Effects of Foreign Direct Investment on Domestic Investment in Sub-Saharan Africa: Pre- and Post-Global Financial Crisis 15

Theresa Onaji-Benson

3 Knowledge Transfer through Expatriation: How Do Subsidiary Employees Count? 32

Yetunde Anibaba

4 Chinese Investment in Africa: Avenues for Academic Scholarship 52

Lite Nartey and Stephen Mezias

5 Brazilian Firms in Africa: What Makes Them Different? 76 Any Freitas and Lyal White

Part II Outward FDI from and Intra-Regional FDI in Africa: Emerging Trends, Prospects and Challenges

6 Patterns and Determinants of Intra-African Foreign Direct Investment 101

Robert Rolfe, Alessandro Perri and Douglas Woodward

vi Contents

7 Rising Africa and Its Nascent Multinational Corporations 123 Kevin Ibeh

8 Failure of Africa-to-Africa Internationalization: Key Factors and Lessons 148

Olawale Ajai

Part III Cases on the Dynamics of International Business in Africa

9 Tata: An Indian Multinational’s Africa Journey 171 Lyal White, Dianna Games and David Cooper

10 Vale in Mozambique 188 Lyal White, Margie Sutherland and Stewart Nupen

11 Research in Motion/Blackberry: Managing Channel Conflicts in Nigeria 205

Uchenna Uzo

12 Standard Bank: An African Tiger 220 Robert Grosse

13 Game in Africa: Seizing the Opportunity 242 John Luiz, Stephanie Townsend and Claire Beswick

14 FirstBank of Nigeria: Developing an Internationalization Strategy 262

Ifedapo Adeleye, Nkemdilim Iheanachor, Chris Ogbechie and Franklin Ngwu

�� Index 289 �

vii

List of Figures

4.1 Total Chinese investment in Africa by year 66 4.2 Number of Chinese investment projects 67 4.3 Geographic dispersion of Chinese investment in

Africa by year 68 4.4 Chinese investment in Africa by economic sector 69 4.5 Chinese investment by energy subsector 69 5.1 Growth of Brazil’s imports from and exports

to Africa (1997–2012) 81 5.2 Brazil’s top imports from Africa 81 5.3 Brazil’s top exports to Africa (1997–2012) 82 7.1 Sample contributions of African MNCs to

South–South FDI flows and partnerships 137 7.2 African MNCs’ market-seeking investments 141 7.3 African MNCs’ strategic asset/resource-

seeking investments 142 7.4 African MNCs’ relationship-seeking investments 142 10.1 Cattle loss during the Mozambique Civil War 199 10.2 Glossary 199 10.3 Selected commodity prices between 1990 and 2012 200 10.4 Mozambique’s anticipated coal production capacity 200 11.1 RIM Nigeria distribution model 208 11.2 Distribution model for Samsung Nigeria 210 11.3 Sales trend for phones by region in Nigeria

(January 2011 to October 2011) 213 12.1 Standard Bank’s business units 230 12.2 Competitive conditions in South African banking 238 14.1 African banking statistics 280 14.2 GDP of SSA countries 282 14.3 Banking analysis in Sub-Saharan Africa 283

viii

List of Tables

2.1 FDI inflows 18 2.2 Gross fixed capital formation across selected groups 19 2.3 Inward foreign direct investment flows across

selected groups 20 2.4 Correlation matrix for period between 2006 and 2009 24 2.5 Correlation matrix for period between 2009 and 2012 24 2.6 Arellano–Bond dynamic panel data estimation,

two-step difference GMM results 26 2.7 List of all countries in the panel data set 29 2.8 Meaning of variables in the econometric analysis 29 3.1 Characteristics of respondents: management staff 36 3.2 Characteristics of respondents: knowledge recipients 37 3.3 Savitel’s skills transfer program: summary of findings 40 4.1 Primary variables coded in database 60 4.2 Summary table of numerical variables 61 4.3 Primary and secondary economic subsectors 64 4.4 List of activities 65 6.1 Greenfield projects in Africa by year 110 6.2 African FDI by business activity 111 6.3 Top ten source countries of inter-African FDI 112 6.4 Destination of African greenfield investments 113 6.5 Regression results for non-African investors and

African investors 115 6.6 Regression results for concentration of projects

by African investors by country 116 6.7 Regression results for South African, Kenyan and

Nigerian investors 117 7.1 Profile of MNCs from rising Africa 129 7.2 Sample infrastructure investments by MNCs from

rising Africa 138 10.1 Coal-focused capital projects proposed 201 11.1 Market share data for mobile phone sales in Nigeria 206 11.2 Price comparisons for formal and gray market

phones in Nigeria 212 11.3 Budget for sales team 216

List of Tables ix

11.4 Cost of selected BIS plan amongst Nigeria GSM operators 218

11.5 Market share trends for mobile phone sales in Nigeria 218 12.1 Performance of the Big 4 in 1999 229 12.2 Market shares of Big 4 South African banks, 2010 237 13.1 Massmart and Massdiscounters at a glance as at 2009 253 13.2 Massdiscounters financial performance for year

ending June 2009 254 13.3 Game locations in Africa as at 2009 255 13.4 Wal-Mart’s International segment as at 2013 258 13.5 Massmart/Wal-Mart financial results for

year ending December 2013 259 13.6 Massmart revenue, profit and annual growth: 2001–2012 259 13.7 Massmart’s divisional contributions, December 2013 260 14.1 2012 income statement of FBN Holdings Group 281 14.2 2012 Statement of financial position 284 14.3 Sample of Nigerian banks’ cross-border subsidiaries

in African countries and beyond, year ending 2012 285 14.4 Southern Africa banking statistics 286

x

Series Editors’ Preface

The AIB Sub-Saharan Africa Book Series is an initiative of the Sub-Saharan Africa (SSA) chapter of the Academy of International Business (AIB). Established in 1959, the AIB is the leading association of scholars and specialists in the field of international business (IB); the Sub-Saharan Africa chapter was inaugurated in 2014, with the aim of bringing together scholars, consultants and policy makers interested in interna-tional business issues relating to the African region.

The book series is an ambitious attempt to achieve two critical objec-tives of the AIB as set forth in its constitution:

Facilitating the exchange of information and ideas among people in 1. academic, business and government professions who are concerned with education in international business. Encouraging and fostering research activities that advance knowledge 2. in international business and increase the available body of teaching material.

The series will publish insightful, innovative and impactful research, covering a wide range of international business (IB) areas, including: theories of the multinational corporation (MNC) and of foreign direct investment (FDI); international entrepreneurship; internationalization strategy, mergers and acquisitions, and competitiveness; competition and collaboration in IB; global value chains and the geography of IB; marketing and consumers in IB; people and careers in cross-cultural business; organization, management and human resources of the MNC; innovation and knowledge management; home economies and the MNC; stakeholders, responsible leadership and governance; the insti-tutional and political environment of IB; and international finance, accounting and economics.

In addition to advancing research on MNC behavior and international business in Africa, the series seeks to make a contribution to the teaching of international business. A collection of authentic case studies, based on research and real-life events, will be published. This will help bring the economic, social, political and cross-cultural complexities and chal-lenges of doing business in the African business environment to the

Series Editors’ Preface xi

classroom, enabling students, executives and IB scholars to understand how these issues play out in the real world. The triple focus on research, teaching and practice makes this series a unique and comprehensive contribution to the understanding and advancement of the dynamics of international business in Africa.

The Editorial Board

Professor Olawale Ajai Lagos Business School, Nigeria

Professor Africa Ariño IESE Business School, Spain

Professor Helena Barnard Gordon Institute of Business Science, South Africa

Ms Claire Beswick University of the Witwatersrand, South Africa

Professor Amon Chizema Loughborough University, UK

Professor Kevin Ibeh Birkbeck College, University of London, UK

Professor Egide Karuranga Laval University, Canada

Professor Abel Kinoti Riara University, Kenya

Professor John Luiz University of Cape Town, South Africa

Professor Robert Rolfe University of South Carolina, USA

Professor Mathew Tsamenyi China Europe International Business School, Ghana

Professor Francis Wambalaba United States International University, Kenya

xii

Preface

The AIB SSA Book Series features a collection of impactful research papers and teaching cases that are aligned to the theme of the annual confer-ence of the AIB SSA chapter. The inaugural conference of the chapter, which was successfully hosted by Riara University, Kenya, August 13–15, 2014, had the theme: “Africa Rising: Internationalization of African Firms and Prospects for Western and Eastern Multinationals”.

The theme of the conference, and indeed the establishment of the chapter, illustrates the conceptualization of Africa in the last five years or so as “the last frontier” in the global economy. Once dubbed “the hopeless continent”, a place of incessant wars and conflicts, Africa can now be regarded as an economic battlefield, with Western multinationals from countries with strong colonial linkages with Africa (e.g., United Kingdom and France) struggling to compete with emerging-market multinationals (from China, India, Brazil, etc.), as well as a new breed of multinational companies arising from the continent (mainly from the regional economic powerhouses: South Africa, Nigeria and Kenya).

To explore these new realities and the changing dynamics of inter-national business in Africa, the conference featured four insightful keynote speeches delivered by eminent IB scholars. In the opening keynote panel, AIB Vice Presidents – Professor Patricia McDougall of Indiana University, USA, and Professor Elizabeth Rose of University of Otago, New Zealand – discussed developments in international entre-preneurship and the internationalization of services firms, respectively, and opportunities for IB researchers. China’s increasing engagement with Africa – which has generated considerable attention and scru-tiny – was expertly discussed by Professor Ken Kamoche of Nottingham University, UK, who presented fascinating insights on the historical context, as well as management, HR and theoretical perspectives of the Africa–China phenomenon. The fourth keynote, delivered by Professor Kevin Ibeh of Birkbeck College, University of London, UK, focused on the phenomenal increase in the internationalization activities of African firms, many of whom are now global contenders.

The inaugural conference attracted over 80 delegates from around the world; 62 papers and cases authored by scholars from 20 countries around the world – Kenya, Uganda, Tanzania, Sudan, Ghana, South

Preface xiii

Africa, Nigeria, United Arab Emirates, Italy, United Kingdom, Finland, Denmark, Austria, Germany, Canada, United States, Malaysia, China, Australia and New Zealand – were presented. Over 30 doctoral candi-dates and early-career faculty participated in the JIBS Paper Development Workshop, and about 20 professors participated in the Teaching IB mini-workshop.

The AIB SSA chapter – in line with its commitment to advancing IB research, teaching and the practice in Africa – will continue to organize annual conferences and capacity-building activities. We hope that this first volume in the Palgrave Macmillan AIB SSA Book Series will help readers better understand the complexities and challenges of doing international business in Africa – the global economy’s last frontier.

xiv

Acknowledgments

We would like to express our sincere thanks and appreciation to all those who made the establishment of the AIB SSA chapter and this book series a reality. First of all, we thank the AIB under the leadership of Professor Robert Grosse for its commitment to building vibrant chapters around the world. Special thanks to Professor Elizabeth Rose, who went beyond the call of her role as AIB Vice President Administration to ensure the successful takeoff of the Sub-Saharan Africa chapter.

Professor Abel Kinoti, the indefatigable founding chair, has provided strong leadership for the chapter, and his university successfully hosted the inaugural conference in magical Kenya. Many thanks also to the following institutions for the immense contribution of their faculty to the inaugural conference and to this book: the Sonoco International Business Department of University of South Carolina (Robert Rolfe, Douglas Woodward and Lite Nartey), Lagos Business School (Chris Ogbechie, Olawale Ajai, Godson Ikiebey and Ifedapo Adeleye) and Gordon Institute of Business Science (Lyal White and Helena Barnard).

Many thanks to our conference sponsors – The Standard Group (Platinum Sponsor), Afrexim Bank (Gold Sponsor), KCB and FirstBank Sustainability Centre at Lagos Business School (Silver Sponsors) and Family Bank (Bronze Sponsor) – for investing in this “start-up”. We are grateful to Mr Obi Emekekwue of Afrexim Bank for facilitating the very first investment in the chapter, and for his continued support.

We have benefited immensely from the wisdom and support of several scholars outside the region, many of them Africans in the dias-pora. We especially thank Professors Kevin Ibeh, Amon Chizema, Lite Nartey, Kenneth Amaeshi, Loius Nzegwu, Ken N. Kamoche and Egide Karuranga. From serving as track chairs, to delivering keynote speeches, organizing PDWs, recruiting new members and serving on the editorial team of this series, they are a perfect example of “brain gain” for Africa. We also thank Professors Africa Ariño and Patricia McDougall-Covin for their inspiration and support.

Many individuals supported the inaugural conference as track chairs, session chairs and reviewers; their contribution in raising the quality of the papers and cases selected for this volume is much appreciated.

Acknowledgments xv

Special thanks to the Palgrave Macmillan team for extending their special partnership with the AIB to the SSA chapter. We particularly thank Liz Barlow for her efficient and professional handling of our series proposal and the production of this volume.

Finally, we thank the contributors to this first volume of the SSA book series for submitting excellent papers and cases, even though many had originally planned to submit to other reputable journals and outlets. Their enthusiasm and commitment to this initiative made the editors’ work much easier and without them, we surely wouldn’t have this book.

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xvi

Notes on Contributors

Ifedapo Adeleye is Senior Lecturer in Strategy and Management, and Academic Director of Custom Executive Education at Lagos Business School, Nigeria. Adeleye’s research engagements are largely practice-driven, and revolve around three critical areas of management: strategy practice and execution; performance and reward management; and international business and comparative management. He has produced over 30 journal articles, book chapters, conference papers and teaching cases, mainly in international outlets. He is currently engaged in research and case devel-opment projects investigating the internationalization of African firms and the challenges of doing business in Africa. Adeleye received his PhD in Business Administration from Manchester Business School, UK.

Olawale Ajai is Professor of Legal, Social and Political Environment of Business and Director of Research at Lagos Business School, Nigeria. He has served as Company Secretary, Director of Marketing and Strategy, Human Capital Director of Dunlop Nigeria Plc. Prior to his stint at Dunlop, he served as an assistant research professor and acting research director of the Nigerian Institute of Advanced Legal Studies, and was Senior Lecturer in Law at the Obafemi Awolowo University, Ile-Ife. Ajai holds a doctorate in Law from the University of Ife (now Obafemi Awolowo University), Ile-Ife, and was called to the Nigerian Bar in 1981.

Yetunde Anibaba is a lecturer at the Lagos Business School (LBS), Nigeria, where she teaches on the MBA and other executive education programs. She is also an academic director of the Problem Solving and Decision Making Program at the Lagos Business School. Her current research interests and activities lie in the areas of intraorganizational knowledge sharing and development, especially in professional service firms, organizational effectiveness and decision making. Prior to joining LBS, she occupied several positions in the information tech-nology industry with progressive experience in the area of ICT and human resource management. Anibaba is a member of several manage-ment societies.

Claire Beswick is a research associate at the University of the Witwatersrand Graduate School of Business Administration. Beswick

Notes on Contributors xvii

heads up the WBS Case Centre, having joined the institution as a case writer in September 2001. She has more than 20 years’ experience in research and writing. In her role at the WBS Case Centre, she has written more than ten cases and been involved in editing and co-authoring most of the 200 cases in the WBS Case Centre’s collection.

David Cooper is Managing Director of Hansgrohe South Africa respon-sible for Sub-Saharan Africa. He has a Bachelor of Commerce degree from the University of South Africa and an MBA from Gordon Institute of Business Science. David has extensive experience in South Africa and Europe and has specialized in negotiating with international manu-facturers to source and take products to market. He has a deep under-standing of the South African retail landscape and consumer market. More recently his focus has shifted to business expansion into Africa; this was also the topic of his MBA thesis where he unpacked strategies and lessons for growing enterprises successfully into African markets.

Any Freitas is a visiting research fellow at King’s College (Brazil Institute) and an associate professor at Sciences Po (France). She is a political scien-tist and policy analyst specialized in Brazilian foreign policy, focusing on South–South cooperation, Brazil relations with Africa, China and also the European Union. She holds a PhD in Social and Political Sciences (European University Institute, Florence) and has worked in different international organizations and research institutions such as UNESCO, UNDP, the Council of the European Union and the European Union Institute for Security Studies.

Dianna Games is Chief Executive of Africa @ Work, a consultancy focusing on African business issues. She has worked for a number of African business publications and written more than a dozen published reports on African business issues, including the ground-breaking 2003 report published by the SA Institute for International Affairs, South African Business in Africa: An Introductory Survey and Analysis . Games has been a columnist on African issues for Business Day newspaper since 2003 and her book Business in Africa: Corporate Insights was first published in 2012. As Honorary CEO of the South Africa-Nigeria Chamber of Commerce (formed in 2005), she has played a leading role in facilitating business and investment between Africa’s two biggest markets.

Robert Grosse is Dean of the School of Business Administration at American University of Sharjah (AUS), UAE. He is also the past president and a fellow of the Academy of International Business. Grosse was Dean of EGADE Business School at Monterrey Tec in Mexico before joining

xviii Notes on Contributors

AUS. He was the founding director of Standard Bank Group’s (South Africa) Global Leadership Centre, which offers leadership development training to the group’s 11,000 managers and executives. He holds a BA degree from Princeton University and a PhD from the University of North Carolina, both in international economics.

Kevin Ibeh is Professor of Marketing and International Business and Assistant Dean for Management at Birkbeck, University of London. His research mainly focuses on advancing knowledge of how non-dominant firms, including SMEs and developing-country firms, might best be guided to leverage growth opportunities in international markets. A recent consultant with the World Bank Group and OECD, Ibeh is considered a leading authority on African MNCs based on his pioneering research on this little-known subgroup of emerging-market multinationals. He has also authored over a hundred papers. His latest book titled The Routledge Companion to Business in Africa was published in 2014.

Nkemdilim Iheanachor is an international strategy doctoral student at Lagos Business School, Nigeria. He has a bachelor’s degree in Electrical/Electronic Engineering and an MBA from the Lagos Business School. He has had prior experience in banking as a relationship manager in the Multilateral, Conglomerates and Private Banking Group of Zenith Bank, as an investment banker where he was involved in Project Finance, Mergers and Acquisitions and Financial Advisory, and as a consultant where he was involved in advisory engagements for state governments, large multinationals and local corporates. Iheanachor has extensively consulted for companies in the area of corporate strategy develop-ment, competitive strategy development and blue-ocean strategy development.

Abel Kinoti is Dean of the Riara School of Business at Riara University, Kenya, and the founding Chair of the AIB Sub-Saharan Africa chapter. He has received a doctorate degree in Commerce from Nelson Mandela Metropolitan University, South Africa, in addition to an MBA (Marketing) and Bachelor of Commerce (Accounting) degrees from Vikram University and Bhopal University, India, respectively. He is the author of a textbook, Business Incubation and Business Development in Kenya , and several articles published in local and international peer-reviewed journals. His main interests are in innovation and business incubation, marketing and the development and use of case studies, curriculum development and application of innovative pedagogy in teaching and lifelong learning.

Notes on Contributors xix

John Luiz is a professor at the Graduate School of Business, University of Cape Town (UCT GSB), South Africa, specializing in international busi-ness strategy; business, society and government; and the economics of emerging markets. In addition, he is Director of International Relations at the UCT GSB. Before joining the UCT GSB, he was a professor at the Wits Business School. He is active in management training and execu-tive education at several leading multinational and South African corpo-rations and public entities. Luiz is President of the Economic Society of South Africa and Vice Chair of the Academy of International Business Sub-Saharan Africa Chapter.

Stephen Mezias is Professor of Entrepreneurship and Family Enterprise at INSEAD. His current research focuses on cognitive and social aspects of institutional processes, especially as they relate to legal environ-ments; the emergence of new industries; the production of culture; organizational learning processes; and cultural differences and similar-ities in performance evaluation. His publications have appeared in or are forthcoming in Management Science , Organization Science , Administrative Science Quarterly , Strategic Management Journal , as well as numerous other journals. His co-authored paper on “Chinese Investment in Africa” received the Best Paper Award at the AIB Sub-Saharan Africa Chapter’s 2014 conference.

Lite Nartey is an assistant professor in the Sonoco International Business Department at the Darla Moore School of Business of the University of South Carolina, USA. Nartey’s research interests are broadly to explore the relationships, contingencies and dynamics among multinational firms, governments and civil-society actors, and the implications of these dynamics on both firm performance and societal value. Nartey’s co-authored paper on Chinese Investment in Africa received the Best Paper Award at the AIB Sub-Saharan Africa Chapter’s 2014 conference. Nartey is from Ghana and she completed her PhD at the Wharton School of the University of Pennsylvania in 2012.

Franklin Nnaemeka Ngwu is Lecturer in Finance and Financial Services at Glasgow Caledonian University, UK. He has a PhD in Law and Economics, MSc and Postgraduate Diploma in Economics from the University of Manchester, MSc in Comparative Political Economy from Cardiff University and BSc in Sociology from University of Lagos. He worked in Barclays Bank for five years and has lectured at University of Salford and University of Manchester. He has multidisciplinary teaching and research interests including financial services regulation,

xx Notes on Contributors

development economics, law and finance in emerging markets, corporate governance and corporate responsibility, strategy and risk management in financial institutions.

Stewart Nupen is Director of the Mineral Corporation, a Johannesburg-based advisory firm focused on the provision of technical services to the mining industry. Before joining the Mineral Corporation, Nupen worked as a junior geologist in the Witwatersrand Gold Field for AngloGold Ashanti. He spent five years with Gemcom Software (now GEOVIA) involved in sales, training and implementation of mining software. He has a BSc (Hons) in Geology from the University of Cape Town, an MBA from the Gordon Institute of Business Science (GIBS), University of Pretoria, and he is Fellow of the Geological Society of South Africa.

Chris Ogbechie is Senior Fellow in Strategic Management and Director of the FirstBank Sustainability Centre at Lagos Business School, Nigeria. He obtained a first class honors degree in Mechanical Engineering and an MBA from the University of Manchester and a PhD from Brunel University, UK. He has extensive experience in international business, derived from his work as a marketing/sales executive at Nestlé in Nigeria, Singapore, Malaysia and Switzerland, and from his consulting work with Nigerian, Ghanaian and Kenyan forms. Ogbechie has published widely in international journals and has developed several teaching cases, some of which have received international awards.

Theresa Onaji-Benson is currently a lecturer in the Department of Economics, Federal University Lafia, Nigeria. She has also held positions in the financial services and public sector both locally and internation-ally. She received her BSc in Economics at Ahmadu Bello University, Nigeria, and MSc in Economics and Econometrics at University of Essex, UK, and is commencing a doctorate at the Gordon Institute of Business Science, South Africa. Theresa’s interests are in Development and International Economics, with papers presented at international confer-ences and up for international publications. She is a founding member and treasurer of the AIB Sub-Saharan Africa Chapter.

Alessandro Perri is a PhD candidate in the Sonoco International Business Department at the Darla Moore School of Business of the University of South Carolina, USA. He has degrees from the NYU Stern School of Business and Thunderbird School of Global Management. His research focuses on institutional effects on foreign direct investment and on the strategic resources developed and used by internationalizing firms to lower barriers to exchange at the cross-border interface. He has presented

Notes on Contributors xxi

his research at the Academy of International Business Annual Meetings in Nagoya, Japan, in 2011 and in Istanbul, Turkey, in 2013.

Robert Rolfe is Professor of International Business in the Sonoco International Business Department at the Darla Moore School of Business of the University of South Carolina, USA. His research and teaching focuses on foreign direct investment in Africa and has been published in many leading journals including the Journal of International Business and the South African Journal of Economics . He has won numerous teaching and publication awards. Rolfe has been a visiting professor at several universities in Africa, Europe and Asia and is a member of the Academy of International Business and the African Studies Association.

Margie Sutherland is a professor at the Gordon Institute of Business Science, South Africa. She completed her doctorate in Commerce on the retention of knowledge workers at RAU. She has been at Wits University for 14 years and at GIBS for 10 years. Sutherland lectures on all aspects of performance management and socially relevant leadership on both academic and executive programs. She has won eight teaching excel-lence awards. She heads up the drive at GIBS to get local case studies written. Margie has published 20 articles in a wide range of academic journals and serves on a number of editorial committees.

Stephanie Townsend is a research associate and case writer for the Case Centre of the University of the Witwatersrand Graduate School of Business Administration (WBS). She has researched and written more than 30 cases in the past 11 years, covering a broad range of subject areas, including marketing, information and communica-tions, micro-insurance and the cellular industry. She began her career at the Centre for Scientific and Technical Information at the Council for Scientific Research in Pretoria and joined the Case Centre upon completion of her master’s degree in Journalism at the University of Stellenbosch.

Uchenna Uzo is Lecturer in Marketing Management and Director of MBA Programs at Lagos Business School, Nigeria. He received his Master of Research in Management as well as a PhD in Management from the IESE Business School, Barcelona. His research and consulting assign-ments span several industries focusing mainly on retail marketing management, sales and distribution channel management. He is an active member of European Group of Organizational Studies (EGOS) and American Marketing Association. His academic articles have been

xxii Notes on Contributors

published in the Strategic Entrepreneurship Journal and his case won the 2013 EFMD Case Writing Competition in the “African Business Cases” category.

Lyal White is Director of the Centre for Dynamic Markets (CDM) at the Gordon Institute for Business Science (GIBS), South Africa, where he is also a senior lecturer, focusing on political economy and strategy in Africa, Asia and Latin America. He has also been nominated for a number of Research Fellowships to China and Taiwan, and most recently for the SAFe Think Fellowship to France. White has (co-)edited several books, including Doing Business in Latin America , Is There an Economic Orthodoxy?: Growth and Reform in Africa, Asia and Latin America , and Strengthening the Bilateral . He has also authored about 20 book chapters and over a dozen journal articles and research reports.

Douglas Woodward is Director of the Division of Research and Professor of Economics at the Darla Moore School of Business of the University of South Carolina, USA. His research interests are industry location, regional cluster development and foreign direct investment. He has published widely on these topics in academic journals. Over his career, Woodward has received numerous research grants. Professor Woodward was the past president of the North American Regional Science Council and the Southern Regional Science Association. He is an associate editor of the Journal of Regional Science and the Review of Regional Studies .