Central And Eastern European Companies in Africa. The Case of Hungarian Businesses
Gergely BUDA
https://doi.org/10.18267/pr.2026.vol.2587.3
Abstract: The aim of this study is to explore the factors that determine whether Hungarian companies will succeed or fail in African markets. The research was based on interviews with 28 Hungarian companies/enterprises, one export expert, and five foreign economic attachés and diplomats working in Africa, which mapped the motivations, strategies, and experiences of market entry. According to the results, market entry was primarily driven by the saturation of European markets, the need for growth and diversification, and the foreign policy direction of the “Southern Opening”. The key to success can be traced back to four factors: market knowledge and preparedness, adaptability, trust-building, and long-term commitment. The majority of Hungarian companies entered through direct export or local distributors, while the main obstacles were in the areas of human resources, financing, cultural differences, infrastructure, and political risks. The research showed that long-term success requires a complex, integrated support system that provides financial, cultural, technological and political tools. Future research directions of the study include sector-specific studies, longitudinal analyses, comparisons across Central and Eastern European countries, and a deeper exploration of the effects of the political and diplomatic background.
Keywords: Africa, Hungarian companies, market entry, foreign trade, business culture, support systems, small and medium-sized enterprises
JEL Classification codes: F23, F14, M16
Fulltext: PDF
Published by: Prague University of Economics and Business, Oeconomica Publishing House
Year of publication: 2026
Online publication date: 20 May 2026
Copyright: Authors of the papers
ISBN 978-80-245-2587-7
ISSN 2453-6113
Pages