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Africa Market Insights for Brands

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Presented at the Africa Technology Business Forum in London on 22nd June 2016 by Alison Merifield, Director Quirk

Published in: Marketing
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Africa Market Insights for Brands

  1. 1. 1 AFRICA A CONTINENT ON THE MOVE
  2. 2. 2 1.1 billion people across 54 countries 450 million people are projected to join the workforce between 2010 and 2035 Six of the ten fastest growing economies in the last decade Growth rates of 5% on average for last 15 years 27 countries with GDP per capita above $2000 Mobile penetration rates of 90% SUMMARY
  3. 3. 3 Africa as a major consumer market and an untapped opportunity Global curiosity Growing consumer base Modern aspirations Entrepreneurial ambition Homegrown innovation NEW NARRATIVE
  4. 4. 4 For many, Africa represents the only continent that is offering growth prospects in today’s economy. So how can brands capitalise on the opportunity? Six key trends: 1. Consumer Power Moving Younger 2. Moving up in the World 3. Moving to the City 4. Moving to Mobile 5. Moving in to the Future 6. Moving the Gender Bias TRENDS TO WATCH
  5. 5. 5 Population of 1.1 billion, set to grow to 2.3 billion by 2050 And they are getting younger. Currently around 43% of Africa’s population is under the age of 15. Optimistic, independent, outward-looking, proud of heritage. African music, fashion, art and literature, in particular, are finding new audiences worldwide, through the efforts and entrepreneurial ventures of young Africans. 1. MOVING MILLENIALS
  6. 6. 6 160,000 millionaires living across Africa, growing at double the rate of elsewhere in the world. More than twice as many people considered middle class today as they were 30 years ago (SSA). But consumers are spending between 10% and 20% of their monthly salary on pre-paid air time. 179 new malls anticipated in the next two years. 2. MOVING UP IN THE WORLD
  7. 7. 7 More than 50 African cities with populations over 1 million. By 2050 60% of Africans will be living in cities or urban areas. Life in a thriving African city isn’t always neat and tidy, nor easy. Challenges from transport systems to energy supply are ongoing hurdles. 3. MOVING TO THE CITY
  8. 8. 8 4. MOVING TO MOBILE Most Africans will have their first experience of the Internet on a mobile device. Smartphones and tablets will account for four out of five broadband connections in Africa in 2016. Unique mobile subscribers set to reach 504 million unique mobile subscribers by 2020 (49% mobile penetration). Mobile penetration will swell to almost a billion connections by 2020 (91% penetration). Ownership of multiple phones is a commercial practicality, as well as a statement of consumer power and choice. 120 million Facebook users in Africa .
  9. 9. “One of the key features of the African digital renaissance is that it is increasingly homegrown.” Tim Kelly, policy specialist, World Bank Upwards of 170 technology hubs across SSA. M-Pesa has become the most successful mobile financial service (MFS) in the world with more than 17 million users in Kenya. The power is in the ability to transact – M-Kopa has powered more than a quarter of a million homes in East Africa. Rwanda will have three drone ports by 2020 delivering emergency medicine to almost half the country. 9 5. MOVING INTO THE FUTURE
  10. 10. 10 A woman is 14% less likely to own a phone than a man in low / middle income countries. Benefits of connectivity are huge, including, but not limited to access to education, employment, security, efficiency and more. There are approximately 250 mobile health (mHealth) services in Africa - more than the USA, Europe, Middle East and Asia. 6. MOVING THE GENDER BIAS
  11. 11. CITY PROFILES
  12. 12. 12 NAIROBI: THE TECH HUB
  13. 13. 13 LAGOS: BOOM TOWN
  14. 14. 14 CAIRO: THE SOCIALITE
  15. 15. 15 DAKAR: MON AMI
  16. 16. 16 DAR ES SALAAM: POWER PLAYER
  17. 17. 17 LUANDA: BOUNCING BACK
  18. 18. 18 • Localisation and language use is essential • Develop for the market, don’t just adapt or ‘dump’ international products • Loyalty and aspirations drive brand adoption – don’t sell ‘cheap’, but make things affordable • Social media is hard to do from a distance, particularly in the vernacular! • Look at untapped markets, such as women and religious groups • Early adopters may need to build out supporting infrastructure to be successful • Travelling in Africa can be slow and administratively painful, but business is based on relationships, deals are done in person IN SUMMARY
  19. 19. 19 African Business News, country supplements, industry reports and market intelligence onAfrica http://africanbusinessmagazine.com/ AllAfrica African news and information for a global audience http://allafrica.com/ BizCommunity Marketing and media news for Africa http://www.bizcommunity.com GSMAIntelligence Mobile operator data, analysis and forecasts, https://gsmaintelligence.com/ How we Made it in Africa Aimed at business and investors in and interested inAfrica http://www.howwemadeitinafrica.com/ McKinsey & Co Winning inAfrica’s consumer market http://www.mckinsey.com/insights/consumer_and_retail/winning_in_africas_consumer_market oAfrica Information on how people in eachAfrican country are using the Internet http://www.oafrica.com Quartz Africa Global andAfrica-specific business news coverage from Quartz, a digital and mobile-first publication http://qz.com/africa/ This isAfrica ExaminesAfrican business and politics in a global context (from the Financial Times Ltd.) http://www.thisisafricaonline.com FURTHER READING
  20. 20. 20 THANKS © QUIRK www.quirk.biz

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