This chapter presents a case of West African Soy Industries Limited (WASIL) as a Hidden Champions in an emerging economy context—Nigeria. The Nigerian business environment is domiciled within a macro economy that has been declining in growth within the last two decades. Contextually, the institutional environment is a critical constraint on the innovative structures and capacities of firms operating within. Despite this business environment handicap, WASIL has emerged as a key leader in the production and export of soy products in the ever-expanding African market with a current production facility that processes half a million tons of soy in capacity, with expansion efforts targeting sales revenues of 500,000 USD by 2024. WASIL is a Hidden Champion that exemplifies an agro-processing manufacturing and export business model with an internal resource focus rather than an external focus. The company’s internal resource focus with respect to raw materials sourcing, processing capabilities, people, and export contributes significantly to their success story. The case of WASIL exemplifies the imperative of supporting the local agro-processing industry to improve utilization of local raw materials, improve local technology, diversify the economy, increase government revenue, and abate foreign exchange shocks with greater level of agro-based exports.

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Hidden Champion of Nigeria

  • Louis Nzegwu,
  • Raymond Onuoha

摘要

This chapter presents a case of West African Soy Industries Limited (WASIL) as a Hidden Champions in an emerging economy context—Nigeria. The Nigerian business environment is domiciled within a macro economy that has been declining in growth within the last two decades. Contextually, the institutional environment is a critical constraint on the innovative structures and capacities of firms operating within. Despite this business environment handicap, WASIL has emerged as a key leader in the production and export of soy products in the ever-expanding African market with a current production facility that processes half a million tons of soy in capacity, with expansion efforts targeting sales revenues of 500,000 USD by 2024. WASIL is a Hidden Champion that exemplifies an agro-processing manufacturing and export business model with an internal resource focus rather than an external focus. The company’s internal resource focus with respect to raw materials sourcing, processing capabilities, people, and export contributes significantly to their success story. The case of WASIL exemplifies the imperative of supporting the local agro-processing industry to improve utilization of local raw materials, improve local technology, diversify the economy, increase government revenue, and abate foreign exchange shocks with greater level of agro-based exports.