The strategy for "Growing the EPC contractor business" in Zimbabwe and beyond focuses on achieving substantial revenue through targeted actions. The plan includes enhancing local market presence by building relationships with government bodies, partnering with key local contractors, and launching marketing campaigns to boost brand awareness. Competitive construction packages and technological investments aim to improve service quality and efficiency, aligning with Environmental, Social, and Governance (ESG) goals. For example, a customer feedback system will refine offerings.
Expansion into other African markets like Malawi and Zambia involves market research and forming local alliances. By establishing joint ventures, the strategy ensures cultural understanding and regional compliance. Attending trade fairs also facilitates networking and opportunity identification, enhancing market presence.
Acquiring a cement manufacturing company is pivotal for cost reduction and market expansion. This move involves diligent financial assessment and integration planning. The cement company's distribution network provides additional reach, while implementing ESG and safety practices from the start ensures sustainable operations. The strategy hinges on maintaining synergy between the core business and the newly acquired entity for mutual growth.
The strategies
⛳️ Strategy 1: Enhance local market presence
- Strengthen relationships with local government and regulatory bodies to facilitate smooth operations
- Identify and partner with key local contractors for subcontracting opportunities
- Develop a local marketing campaign to raise brand awareness in Zimbabwe
- Offer competitive and customisable construction packages for diverse customer needs
- Implement a customer feedback system to continually improve service offerings
- Increase investment in technology and machinery to improve construction speed and quality
- Train local workforce in advanced construction techniques and health and safety measures
- Focus on obtaining green certifications for construction projects to align with ESG goals
- Create a dedicated team for managing operational efficiency and cost control
- Explore financing options and incentives available to Zimbabwean businesses
⛳️ Strategy 2: Expand into new African markets
- Conduct market research and feasibility studies in Malawi, Rwanda, Lesotho, and Zambia
- Develop a regional expansion plan with specific entry strategies for targeted countries
- Establish local offices or joint ventures with local entities in each new market
- Attend and participate in regional construction and infrastructure trade fairs and conferences
- Form alliances with local construction companies for knowledge and resource sharing
- Tailor marketing strategies to regional preferences and regulatory environments
- Assess regional infrastructure needs and tailor offerings accordingly
- Train a dedicated team for managing cross-border operations and projects
- Hire local talent to ensure cultural fit and understanding of local markets
- Monitor and evaluate regional expansion progress to refine strategies as needed
⛳️ Strategy 3: Acquisition of cement manufacturing company
- Identify and shortlist potential cement companies for acquisition in Zimbabwe
- Conduct due diligence to assess financial health and operational capabilities of target companies
- Develop a clear integration plan post-acquisition to ensure business continuity
- Leverage the acquired cement production capacity to reduce construction costs
- Use the cement company’s existing distribution network to access new markets
- Incorporate ESG and safety practices from the outset in the acquired company’s operations
- Train staff from the acquired company in new construction technologies and practices
- Enhance production efficiency of the cement plant to meet increased demand
- Negotiate favourable purchase terms, including consideration of possible regulatory implications
- Monitor the financial performance of the acquired company to ensure alignment with revenue goals
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
