With over 900-million consumers in 53 Countries, Africa has been growing at almost 5% each year since 2000, making it the world’s third fastest growing region, writes Lyn Davis.
There are clusters of African countries that work together, making production more viable in these areas, such as in West Africa. However, to ensure successful communication efforts in 2012, marketers and advertisers need to ensure that they speak local lingo and already understand the market in which they operate.
The telecoms and financial sectors particularly, both enormous growth sectors in Africa will continue to boom in 2012. More than 130-million Africans own cell phones, which creates opportunities for innovative and consumer-engaging media platforms in these areas.
Africa’s banking sector has also seen enormous growth. With only 20% of the continent having their own bank accounts, the potential for further growth in 2012 is huge. As this figure continues to increase, the need for handy communication applications also rises. Marketers will have to communicate with inexperienced banking consumers to create awareness and educate them about various banking procedures.
Each African country offers its own distinct market. These are the countries I believe will deliver growth opportunities in 2012.
Kenya will see more advertising agencies and marketers selecting the destination in which to operate their East African hubs in 2012.
According to the US Central Intelligence Agency, Kenya has a population of over 41-million and serves as the regional hub for trade and finance in East Africa.
M-PESA, a mobile phone-based money transfer service, already has over 2.3-million registered users in Kenya, marking the telecommunications industry for a boom in 2012.
Kenya offers opportunities for growth in various other sectors including tourism and banking. Government sectors like health, education and safety and security are also solid markets for 2012.
Botswana’s Gross Domestic Product, per capita, is high in relation to most other African countries. Although the population is small, there is potential for good business as Botswana has a relatively sophisticated market.
The country offers the opportunity for growth in various sectors in 2012 including telecommunications, tourism, banking and mine safety.
While traditional media such as television, radio and print already exist in the market, there are numerous gaps for other media platforms to fill in 2012.
Nigeria is recognised as one of the fastest growing markets in the world, with over 130-million consumers with which to interact.
The country’s economy is one of the most developed in Africa. According to UN classification, it is a middle-income nation with developed financial, communication and transport sectors. It is also the 12th largest producer of petroleum products in the world.
The financial, petroleum, telecommunication and FMCG sectors are among the largest industries in Nigeria, and marketing and advertising opportunities to reach consumers in these industries in 2012 are endless.
South Africa has always supplied the largest number of tourists to Mozambique, with just under a million visiting the country in 2010.
Mozambique offers a lucrative marketing economy for brands. While much of its economy was devastated by almost three decades of internal warfare, meaningful reconstruction started in late 1994.
Impressive economic performance and heavy investment in human capital has had a strong impact on poverty reduction and the Mozambique economy is growing fast.
Mozambique’s economy is closely integrated with those of southern and South Africa, and various industry sectors including agriculture, forestry, fishing and tourism are on their way up in 2012.
While oil is the backbone of the Angolan economy, with the sector making up over 90% of the country’s exports, it also enjoys considerable agricultural potential having a climate, soil and topography appropriate for modern and large scale agricultural production of a wide range of crops.
The country’s underground is immensely rich with minerals including oil, diamonds, gold, and iron ores. Furthermore, it has an important hydropower, forest and fishery potential, ensuring valuable economic opportunities for various brands in a wide range of industry sectors in 2012.
The rebirth of the Angolan economy, after the civil war, has seen increasing competition in the corporate market. Until recently, the Angolan economy was centered on government and the private entities were thus not as competitive as they are since the market has opened up to foreign investment.
With competitiveness comes the need to advertise products and services in an attempt to increase sales and consequently, income. Luanda, where over 95% of Angola’s business decisions are made, is the best place to position your marketing efforts in 2012.
While business is certainly different in Africa, marketers and advertisers still need to know how to effectively communicate with their intended market it they want to ensure sales. Tailored solutions will be on the increase in 2012 to ensure successful marketing efforts in Africa.
Lyn Davis is marketing director of Pocket Media who works extensively in Africa. Follow PocketMedia Solutions on Twitter: @PocketMedia_SA