Africa Today. Africa Tomorrow.

Rick de Kock, Director of Africa Operations for TBWA\Africa shared some fascinating stats and considerations with me this morning. Check this out:

Africa today:

  • $1.6 trillion= Africa's collective GDP in 2008, roughly equal to Brazil's or Russia's
  • $860 billion= Africa's combined consumer spending in 2008
  • 316 million= the number of new mobile phone subscribers signed up in Africa since 2000
  • 60%= Africa's share of the world's total amount of uncultivated, arable land
  • 52= the number of African cities with more than 1 million people each
  • 20= the number of African companies with revenues of at least $3 billion
Africa tomorrow:
  • $2.6 trillion= Africa's collective GDP in 2020
  • $1.4 trillion= Africa's consumer spending in 2020
  • 1.1 billion= the number of Africans of working age in 2040
  • 128 million= the number of African households with discretionary income in 2020
  • 50%= the portion of Africans living in cities by 2030
Considerations for advertising on the Continent:
  • Media fragmentation in an over populated environment
  • The challenges around poor production quality (especially in print)
  • Local conditions (i.e. electricity shortages, weather, etc.)
  • Societal sensitivities (accents, political and religious differences)
  • Cultural relevance (local models/icons)
  • Corruption (for instance: destruction of billboards by local gangsters unless they are paid "protection money")
  • Humour (is it denigrating to a particular group?)
  • Media monitoring is essential to ensure compliance
We're talking about the potential for incredible growth and opportunity across the continent in the next 10-20 years. As the video highlighting Rick's interview and insight will show (stay tuned this week!), though South Africa (and many of the markets in East and West Africa, as well) is a developing market, it is not an wide-open market. That is to say that multinational brands that are just arriving on the scene will not find themselves ahead of the curve. Rather, they will need to proceed with humility and pay respect to the power of the statistics and considerations above. 

Watch out for Africa.  

No comments:

Post a Comment