If anyone was still in any doubt about the large and growing talent pool of executives in Africa, new research showing that even global firms are filling top positions with local hires should clear that up.
Research into the leadership landscape in key economic hubs in Africa, conducted for Jack Hammer, shows that locals make up the majority of executive teams of multinational organisations in Africa. Only 35 percent of executives in leadership teams surveyed were foreign and, even then, roughly a third of them were from other African countries.
The soon-to-be-released annual Jack Hammer Executive Report Volume IV, The Africa Report, researched the make-up of the executive teams of 36 multinational companies, including General Electric, Siemens, Unilever, Microsoft, Coca Cola and Procter & Gamble.
“The findings indicate that, contrary to some perceptions, there is indeed a notable pool of local talent ready and able to take up senior leadership roles, and that companies are increasingly willing to take the step to do so, instead of merely jetting in leaders from head offices around the world,” says Debbie Goodman-Bhyat, chief executive of Jack Hammer, the South African executive search firm.
“We can say with great certainty that this research has debunked the notion that multinationals would rather not appoint local leaders to key roles,” says Goodman-Bhyat.
Many companies still fill at least one key leadership position with an expat, although the gap is closing, she noted. The research shows that 58 percent of companies had an expat as chief financial officer and 61 percent had an expat as country head.
Goodman-Bhyat thought it interesting to note that in South Africa, which is widely perceived to have a well-developed talent pool, the proportion of expats was roughly comparable to other African countries surveyed.
She said that research showed that local executives who occupied top positions had carefully navigated their careers, having advanced qualifications in strong technical or financial fields and having built a solid track record, either at another multinational or abroad.