Despite some difficulty in sustaining growth in the African market, it seems businesses are making a concerted effort to ensure that this changes – and soon! We’re spotlighting some of these transformative movements across the continent, and as always providing some tips to take full advantage of them for your activities in Africa.

🦄 Creating more Unicorns in Africa - (Moneyweb)

• Why it actually matters: By learning from success in the African startup ecosystem, businesses can navigate this market effectively, driving growth and staying ahead of the competition.

• Summary: Africa has seen an innovation surge, but a lack of new unicorns (startups with a valuation of $1 billion or more) emerging from the market. A solution to faltering startups lies in enterprises revamping their partnership approach, investing strategically in high-impact tech startups, overcoming risk aversion, and fostering collaboration without stifling startups' agility.

Marketing insight: Unlock secrets to creating more African unicorns by learning from successful startups; strategic investments and agile partnerships.  This is key to navigating and leading in this unique market.

🏙️ The city of the future is in Congo - (AllAfrica)

• Why it actually matters: East African citizens have been called on to invest across the borders in order to boost integration and social- economic development in the region that comprises seven countries.

• Summary: Kasangulu Smart City in the Democratic Republic of Congo will come at a cost of $210M (USD). This 40-hectare project includes a hospital, school, train station, theme park, malls, housing and more. The project is set to be completed in 2027.

Marketing insight: By focusing on regional integration, companies can leverage marketing strategies to connect with a diverse, economically growing audience in East Africa, driving growth and cross-border investment.

💰Uganda incentivises innovation - (Tech in Africa)

• Why it actually matters: Africa’s willingness and motivation to drive tech is rising, presenting attractive opportunities for businesses looking to enter the African market.

• Summary: Uganda aims to become East Africa's tech hub, with the President announcing a $150M science and technology fund and a decade-long tax break for innovative firms. The Minister of Science, Technology, and Innovation, Dr Musenero, expressed the ambition to position Uganda as the top investment destination.

Marketing insight: Strategically position your brand in Uganda's evolving tech landscape, leveraging these incentives to gain a competitive edge and connect with a tech-forward audience in East Africa.

What did you think of today’s post? Share your thoughts with us 🔥

Leave a comment

We’re spotlighting some transformational and inspirational movements across the continent, and as always providing some tips to take full advantage of them for your activities in Africa!

💡Norrsken22 shows it’s confidence in Africa’s youth - (Disrupt Africa)

• Why it actually matters: With the youngest population in the world, Africa’s upcoming digital-first generation is the future! Growing investor confidence in African tech presents a new wave of opportunities for businesses that will contribute to regional growth.

• Summary: Norrsken22 recently closed its fund at $205M, attracting support from unicorn founders and institutional investors. Focused on fintech, ed-tech, e-health, and market solutions, it has invested in ventures like Tyme Bank and Smile ID, aiming for sustainable growth in African tech.

Marketing insight: Growing investment in African tech highlights market potential – businesses can leverage trends in fintech, ed-tech, and e-health for strategic expansion into the African market.

✨Lengo AI transforms spaza shops into innovatively marvellous stores - (Ventureburn)

• Why it actually matters: Corner shops serve as the backbone of countless communities on the continent. Rules are bending on how we think about and innovate in many diverse African markets.

• Summary: Lengo AI, a Senegal-founded company, revolutionises local corner shops by leveraging data to guide inventory, pricing, and connect shopkeepers with suppliers. Their vision extends beyond corner shops, with their aim being to transform various informal sectors across Africa!

Marketing insight: Lengo AI makes it clear that data-driven strategies empower African businesses. Understanding local markets, optimising pricing, and connecting with suppliers are keys to ultimate success.

💥The unexpected upside of Pacminer’s $50M boost - (Tech in Africa)

• Why it actually matters: This marks a significant shift from Africa's historical challenges with economic instability and corruption, paving the way for a blockchain-enabled era.

• Summary: Pacminer, a blockchain mining platform, announces a $50M joint venture with Ghanaian government agencies and blockchain firms. This investment will optimise mining pools and implement advanced cloud infrastructure, reinforcing Pacminer's commitment to sustainable, efficient, and low-cost mining.

Marketing insight: Blockchain's growth in Africa signals marketing opportunities; businesses may be able to leverage sustainability, efficiency, and economic empowerment trends for strategic positioning.

What did you think of today’s post? Share your thoughts with us 🔥

Leave a comment

Local businesses in various parts of the continent are doing their bit to make sure that Africa remains firmly on the map. From the artistic to the financial, they are making waves!

We’re spotlighting some of these transformative movements across the continent, and as always providing some tips to take full advantage of them for your activities in Africa. 

📈 Africa’s crypto gem hits historic landmark - (VentureBurn)

• Why it actually matters: Luno’s growth shows a significant increase in adoption of cryptocurrency. Observing Luno is watching the future unfold.

• Summary: The South African crypto company, Luno, has reached 10 million customers in 40+ countries! South African (and overseas) growth is significant - with a 40% Year-on-year (YOY) increase. Luno has seen accelerated growth since 2017 despite crypto volatility - a sure sign of their resilience.

Marketing insight: Just as the crypto industry thrives on decentralisation, businesses should prioritise decentralised marketing strategies, utilising diverse channels and personalised content to cater to an evolving and diverse customer base.

🏎️ Empowering the unconnected in Nigeria - (Disrupt Africa)

• Why it actually matters: Tizeti’s expansion signifies greater socio-economic development and digital inclusion, creating positive change for millions!

• Summary: Tizeti is expanding its broadband network across 15 states after securing funding from Nigeria Infrastructure Debt Fund. Delta, Abuja and Kaduna can expect to receive the high speed WiFi as the company plans to use the funding to expand into new areas. Nigeria’s goal is to achieve 70% broadband penetration by 2025.

Marketing insight: This underscores the transformative impact that bringing internet services to new areas can have on both business expansion and societal progress, emphasising the pivotal role companies play in bridging the digital divide.

✂️ Dressed for success: Africa’s $15b fashion boom - (Africanews)

• Why it actually matters: Besides fuelling job creation and economic growth, this booming industry highlights the demand for Africa’s talent and diverse cultural impact on fashion globally.

• Summary: Exports for Africa’s fashion industry total a whopping $15.5 billion annually, and according to UNESCO, that number could likely triple with the right investment. Expert Nelly Wandji emphasised the need for government support.

Marketing insight: Tapping into the continent’s thriving fashion and digital scene could boost market penetration and brand visibility. Teaming up with local artists could enhance the cultural authenticity and resonance.

What did you think of today’s post? Share your thoughts with us 🔥

Leave a comment

Africa’s steady shift into the digital space presents many opportunities while investments by large corporations show increasing confidence in the African market! Today we’re spotlighting some of these transformative moves across the continent, and as always some tips to take full advantage of them for your activities in Africa.

🌊 Riding the fintech wave (Ventureburn)

• Why it actually matters: There are challenges related to financial inclusion and regulations, but adapting to these shifts isn't just smart; it's the key to sustainable growth and success in the region.

• Summary: Between 2023 and 2030, Africa is set to become the fastest-growing fintech market. South Africa is making its mark too, with its payment sector expected to hit $22 billion by 2032. We're talking about digital currencies, cutting-edge technology, and the power of GenAI transforming the way we handle payments. But it's not all smooth sailing – regulations are getting stricter, pushing industry leaders to step up their game.

Marketing insight: By showcasing cool payment technologies and supporting financial inclusion, your brand could earn customer trust, build credibility, and grab hold of the exciting opportunities in Africa's fintech scene.

✨ An African digital marvel, introducing… (Tech Safari)

• Why it actually matters: Cellulant's success story proves that Africa's fintech world is buzzing with potential. It's a clear sign that businesses need to keep up with the ever-changing payment methods and embrace the new solutions popping up.

• Summary: Cellulant is the unsung hero of Africa's payment scene! Over the past two decades, they've gone from selling ringtones during Africa's phone craze to becoming a digital payment powerhouse. They've formed the bridge between banks and mobile money platforms. Fast forward to the now, with their cool product, Tingg, they're helping more than 2000 businesses process a whopping 20 million transactions every month!

Marketing insight: Teaming up with pros like Cellulant could be highly beneficial. They offer the essential groundwork, making it way easier for you to step into the market. Their story teaches us that in this fast-changing fintech world, being adaptable is key.

🎬 A golden ticket with Sony? (Tech in Africa)

• Why it actually matters: This may be a golden ticket for businesses eyeing the entertainment tech scene in Africa. It's filling a funding gap, giving businesses the cash they need for top-notch productions and cool projects.

• Summary: Sony Group's $10 million fund, the Sony Innovation Fund: Africa (SIF: AF), aims to boost African entertainment tech startups, especially in Nigeria's Nollywood and Afrobeats sectors. The fund provides increased funding, enhances production quality, offers global exposure, grants access to cutting-edge technology, and widens distribution reach. Sony is perfectly placed to transform Africa's entertainment landscape, elevating local talent to global prominence. Exciting times ahead!

Marketing insight: Investing in creative fields such as music and gaming has untapped potential. Collaboration with industry leaders like Sony allows businesses the opportunity for partnerships and enhancing production quality to meet global standards while boosting visibility and engagement in the African market.

What did you think of today’s post?

Leave a comment

Share your thoughts, we’d love to hear from you! 🔥

We’re doing things a bit differently this week. We’ll be focusing on the recent announcement that Amazon will be entering the South African market in 2024, since this spells big news for local companies and those looking to enter the market soon too. We focus on some key questions that have come up in response to the Amazon buzz, and as always, we’ll be providing some tips to take full advantage of it for your activities in Africa.

📦 How does Amazon plan to safely deliver their parcels at scale?

• Why it actually matters: For those companies looking to enter the South African market, it’s vital to understand the fulfilment options provided by Amazon as this could impact operational efficiency and customer satisfaction. It also gives businesses a peek into the competitive e-commerce landscape.

• Summary: Amazon is urging sellers to join their platform for trading in 2024. Sellers can choose self-packaging with Amazon courier (Amazon Easy Ship) or opt for Amazon's fulfilment service (FBA) where they handle packaging and shipping. With 175 centres covering 150 million sq ft, Amazon claims to offer excellent customer service, fast scaling, and efficient returns.

Marketing insight: Businesses are already able to tailor their messaging to customers using this information from Amazon to enhance customer experience and ensure transparency, as well as fostering long term customer relationships. Businesses could leverage this to create effective marketing campaigns and gain a competitive advantage in the South African market.

💥 Will Retailers Retaliate?

• Why it actually matters: Amazon’s entry into the market may serve as a case study for businesses that are looking to move into the South African landscape. By monitoring the consumer behaviour, regulatory environment and market dynamics in response to Amazon’s presence, businesses can make informed and strategic decisions.

• Summary: Amazon's arrival in South Africa will disrupt local retail. Competitors like Takealot and Massmart may counter this by forming local partnerships, enhancing e-commerce systems, diversifying products, and focusing on customer loyalty and personalised marketing strategies.

Marketing insight: With Amazon’s entry into the market, valuable insights can be gained through the consumer expectations and market dynamics, allowing businesses to create data-driven marketing and stay competitive in an evolving market landscape.

⚔️ Takealot vs Amazon: the war that’s coming?

• Why it actually matters: Businesses looking to trade in South Africa will need to analyse the competitive landscape. The report from the Competition Commission gives a heads-up on the regulatory intricacies of this market.

• Summary: Amazon's entry has maddened local regulators, thereby focusing their scrutiny on Takealot. The Competition Commission labeled Takealot a dominant e-commerce force, stifling smaller businesses by restricting product sales that competed with their retail arm. The Commission mandated a split between Takealot's retail and marketplace sections. Now, the challenge lies in regulating Amazon's global influence while maintaining fair competition.

Marketing insight: Entry into the South African market of Amazon intensifies competition and necessitates innovation. Understanding an ever-evolving consumer is key. Regulatory scrutiny also highlights the importance of navigating the market with integrity and adaptability.

The original announcement by Amazon and more insights by BusinessLIVE

What did you think of today’s post?

Leave a comment

Share your thoughts, we’d love to hear from you! 🔥

From showcasing a unified solution to climate change at Africa’s first climate summit, to exploring the innovative start-ups in the agriculture and automotive industry, this week’s newsletter highlights the continent’s ambitious problem solvers who are driving transformative change.

And as always, we’ll be providing some tips to take full advantage of these advancements for your activities in Africa.

🌱 Planting seeds for Africa’s agricultural success (Ventureburn)

• Why it actually matters: Funding in agricultural technology will accelerate global trade opportunities for African farmers and investors. Innovative ideas, supported by strategic funding, can change the landscape of traditional sectors for the better!

• Summary: Africa’s agricultural scene has seen a boost with Ghanaian agritech start-up, Complete Farmer, snagging a cool $10.4m in funding! They were awarded a mix of equity and debt-financing to propel their transformation of Africa’s agricultural value chain. Complete Farmer links African farmers with the global market. With this funding, they are looking to expand operations, enhance their digital platform and foster key partnerships. It’s a huge win for African agriculture and a step towards a more sustainable future!

Marketing insight: By utilising SEO, data analytics, and influencer partnerships, brands can enhance visibility and credibility. Build trust and a diverse customer base by emphasising transparency and tailoring marketing messages to local cultures.

🛞‘New’ wheels for Nigeria’s automotive sector (Disrupt Africa)

• Why it actually matters: By optimising this supply chain, Fixit45 will likely boost efficiency for businesses and consumers alike, saving time and resources. Nigeria's automotive sector is set for major growth and promising prospects of job creation and investment.

• Summary: Nigerian startup, Fixit45, just scored $1.9m in the pre-seed funding round led by Launch Africa Ventures, backed by investors like Soumobroto Ganguly and Dave Delucia. Founded in 2021, Fixit45 aims to streamline the spare parts supply chain in Nigeria. It has a vast network of over 300 workshops in 9 cities, and partnerships with heavyweights like Toyota and Nissan. The funding will help them expand further into Nigeria and East Africa, starting with Kenya and Uganda.

Marketing insight: Fixit45's collaborations with major automotive brands showcases the power of aligning with industry leaders, enhancing credibility and customer trust. Lean into the blend of digital convenience with offline services to cater to diverse preferences.

💡An African solution to climate change (Africanews)

• Why it actually matters: As a member of the G20 and BRICS making big news lately, Africa is potentially reshaping global politics and providing a more robust and dynamic business environment on the continent.

• Summary: At the first African climate summit, leaders pledged to boost carbon credit production in an attempt to combat climate change caused by major economies. Meanwhile, Gabon has entered a new age after President Bongo was overthrown, with focus shifting to sustainable growth under General Nguema’s reign. On another note, the African Union has been included as a member of G20: a significant milestone seeing as they’ll now be influential in global decisions, possibly paving the way to a permanent seat on the UN Security Council.

Marketing insight: Businesses should be agile in adapting their digital marketing strategies to align with global initiatives, sustainability goals, and policy changes. Emphasising collaboration, cultural sensitivity, and strategic partnerships can enhance market relevance and foster business opportunities in the changing global landscape.

What did you think of today’s post?

Leave a comment

Share your thoughts, we’d love to hear from you! 🔥

Kenya's fintech leaps, Zambia's financial zest, and BRICS' audacious endeavours. Curious?

We’re shining a light on some transformative movements across the continent and, as always, providing some tips to take full advantage of them for your activities in Africa.

🚀 Lipa Later’s landmark leap (Disrupt Africa)

• Why it actually matters: Lipa Later’s international recognition is a significant milestone for the African fintech scene as a whole! It signifies a vote of confidence in African entrepreneurship. This fuels global trust and spotlights Africa’s untapped potential.

• Summary: Kenyan fintech firm, Lipa Later, has gotten the thumbs-up from the US Securities and Exchange Commission (SEC) to raise funds from the public in the US. Through Republic, a global fintech company, Lipa Later aims to supercharge their integrated platform −  offering consumer credit, working capital and e-commerce solutions for African businesses. CEO Eric Muli is excited about empowering global investor to support African businesses. Big things are happening!

Marketing insight: Lipa Later’s success in the US market highlights an opportunity for brands to craft compelling digital narratives around African fintech achievements. Using this story as content for social media campaigns, webinars, and blog posts can drive engagement and position brands as global thought leaders.

🏦 Zambia’s Lupiya is breaking barriers (Ventureburn)

• Why it actually matters: Lupiya's funding triumph isn't just dollars and cents—its proof that Zambia is a leader in reshaping the global financial conversation. It’s also a huge step towards a more financially inclusive, gender-equal, and economically empowered society.

• Summary: It’s big news from Zambia – Lupiya, the innovative neo-bank – just scored a whopping $8.25m in Series A funding! Spearheaded buy the gender-focussed Alithea IDF Fund, with major contributions form INOKS Capital and KfW DEG, Lupiya’s mission of bridging the financial gap for the underbanked has been boosted. Heavyweights like Mastercard and Google are backing them and VP Kamala Harris has even given them a shoutout. CEO Evelyn Chilomo Kaingu is thrilled about being able to expand their reach and provide even better financial solutions.

Marketing insight: Lupiya’s rise offers a chance for brands to tap into Zambia’s fintech enthusiasm. Digital marketers should consider geo-targeted ad campaigns, localised content, and partnerships with Zambian influencers to enhance digital reach.

🌍 The BRICS power play (Africanews)

• Why it actually matters: More countries banding together means a stronger collective power and a stronger voice in global economic decisions. We are all interconnected, and decisions made in any part of the globe can have a far-reaching impact.

• Summary: It seems the BRICS nations are making big moves in the financial world. They’ve expanded to include six new countries and aim to reduce the reliance on the US dollar-dominated financial system by introducing a new currency. This could potentially mean a shift to a more balanced global economy, with BRICS nations, who represent a whopping 31.5% of global GDP, having more say.

Marketing insight: The evolving economic stance of BRICS nations offers a dynamic digital content opportunity. Brands should employ real-time social listening tools to track conversations around BRICS and related economic changes.

What did you think of today’s post?

Leave a comment

Share your thoughts, we’d love to hear from you! 🔥

From energy infrastructure and fintech to climatetech, there's a plethora of impactful initiatives ripe for involvement with potential for significant returns across the African continent.

Today we’re highlighting some interesting initiatives and discussions, and as always some tips to take full advantage them for your activities in Africa.

☀️ Discovery’s green light for energy investment (Moneyweb)

• Why it actually matters: South Africa’s incessant electricity crisis has intensified over the years. Discovery Green lights a beacon of hope with prospective cost savings as well as an enticing opportunity for investors in impactful initiatives.

• Summary: JSE-listed financial services group Discovery, has launched a new initiative ‘Discovery Green’ to support the provision of renewable energy to South Africa’s public sector, a move that is expected to stimulate investment of between R20bn to R25bn in the country’s energy infrastructure. The initiative aims to offer cost savings for public entities and a reduction in South Africa's carbon footprint.

Marketing insight: This initiative aligns with the global push towards sustainability, allowing companies to elevate their brand by associating with environmentally conscious projects.

🗝️ Innovative finance, Africa's key to achieving SDGs (AllAfrica)

• Why it actually matters: Entrepreneurs face obstacles in accessing capital for both social impact and profit gain. Unifying experts are crucial to identify scalable sector opportunities and to explore innovative financing models.

• Summary: At the U.S.-Africa Summit, the United Nations report that climate, conflict, economy, and COVID-19 as setbacks for African development. Experts were discussing innovative finance, philanthropy, and blended finance to boost SME investment and tackle challenges.

Marketing insight: This shift from a one-size-fits-all approach to a more nuanced, context-specific marketing strategy could be the linchpin for building successful, enduring brands in Africa. It's an invitation to innovate, to resonate, and to be part of Africa's vibrant and burgeoning business narrative.

🌍 Climatetech surge in Africa (Ventureburn)

• Why it actually matters: Facing urgent climate challenges, Africa's growing focus on climatetech presents businesses with opportunities for investment, market expansion, collaboration, and sustainability.

• Summary: AfricArena Nairobi Summit, focused on climatetech start-ups in Africa, reveals over $3b raised since 2019. Rapid investment growth supports innovation beyond clean energy to waste and water solutions. With 22+ venture capital funds backing these initiatives and partnerships with international entities, Africa positions itself as a hub for climatetech, promoting sustainability and economic development.

Marketing insight: Global businesses who get involved in these innovations in Africa can position themselves as pivotal players in the global effort to combat climate change, fostering a reputation for corporate responsibility and foresight.

This post was created in collaboration with Sam Townsend and Nasreen Ally.

Share your thoughts, we’d love to hear from you! 🔥

From Africa’s booming fintech sector, to the continent’s developing opportunities for environmental stewardship and the inevitable role of AI in business.

Today we shed light on the continent’s trending topics and relevant marketing insights to keep you ahead of the game. 

The key to unlocking Africa’s explosive Fintech sector (Disrupt Africa)

• Why it actually matters: Despite the explosive growth of the African fintech industry in recent years, there is a pressing need for continued investment in the sector. The fintech industry has the potential to drive economic growth and promote financial inclusion across the continent, making it an essential sector for both investors and African markets.

• Summary: Africa's fintech ecosystem grew by 20%, attracting $2.7 billion in investment in 24 months. Keeping a close eye on the fast growth in nations like Egypt and Nigeria. Fintech now leads investment, shaping Africa's financial landscape and global collaboration.

Marketing Insight: Hyper growth of FinTech’s is intricately tied to the ever-evolving landscape of regulatory changes. Establishing a brand as the foremost authority in regulatory matters can significantly bolster trust among early adopters in emerging markets for FinTech companies.

New hope for environmental stewardship in Africa (AfricaNews)

• Why it actually matters: With the UN's International Fund for Agricultural Development (IFAD) funding youth hubs in Africa, the potential to create 8.4 million jobs by 2030 is not only a solution to the issue of mass unemployment among young people in rural areas but also a strategic move towards global environmental stewardship.

• Summary: The UN’s International Fund for Agricultural Development (IFAD) funds youth hubs in Africa, offering green skills and jobs. There are over 9000 rural youth trained in sustainable practices, while it is continuing to shape a green transition, confident to create 8.4 million jobs by 2030, fostering global environmental stewardship.

Marketing Insight: Global brands who are looking to genuinely contribute and create a more sustainable future, should be budgeting to support programs like this and naturally including it in their marketing. 

This is why you can’t avoid AI (VentureBurn)

• Why it actually matters: AI will not necessarily take away jobs, but rather create new ones that require skills in AI. To stay relevant in the job market and remain competitive in the global economy, individuals and businesses need to invest in developing AI literacy skills.

• Summary: AI's potential to drive positive transformation in the workplace is emphasised by Ursula Fear of Salesforce South Africa. AI can enhance employee experiences and boost creativity, whereas it could also contribute over $15 trillion to the global economy by 2030, though limited skills in Africa remain a barrier.

Marketing Insight: Running regular AI focused events and educational programs could position your brand as an industry thought leader whilst attracting the best talent in your industry.

This post was created in collaboration with Sam Townshed.

Spread the word! Share this now with your network. 🔥

Share

---

Fact: ‘Q’, ‘C’ and ‘X’ are the English denotations for the 3 most common linguistic clicks in African languages. If you can say all three clicks, three times in a row fast, you can legally call yourself African.

---

Thanks for reading Untapped Marketing Opportunities in Africa by QCX! Subscribe for free to receive new posts and support my work.

QCX Africa’s ‘Marketing Opportunities in Africa’ Substack is a Kaomi Marketing initiative - a digital marketing agency that specialises in marketing into and out of Africa. This Substack forms part of Kaomi’s ongoing efforts to make Africa accessible to Northern hemisphere markets, and vice versa. Support us by sharing this Substack with your colleagues.

Digital transformation is sweeping across Africa, bringing along a wave of innovation, empowerment, and a reshaping of the global tech landscape.

Today we’re highlighting some interesting movements across the continent, and as always some tips to take full advantage them for your activities in Africa.

Google invests in the digital transformation of a sleeping giant, Nigeria. (REUTERS)

• Why it actually matters: Many challenges have limited and delayed women's access to education and employment opportunities in Nigeria, causing a knock on effect for the country's youth. Google's investment to train Nigerian women and youth can reposition the country as a potential tech powerhouse on the African continent.

• Summary: Google is embarking on a major initiative in Nigeria, committing to train 20,000 women and youth in digital skills with growing opportunities. This move, supported by a generous grant of 1.2 billion naira ($1.6 million), aims to catalyse the Nigerian government's vision of creating one million digital jobs. Collaborating with Data Science Nigeria and the Creative Industry Initiative for Africa, this endeavour echoes Google's broader strategy to invest in Africa's digital transformation—a shift that promises to unlock vast economic potential and opportunities.

Marketing Insight: Google’s NBU (Next Billion Users) strategy has Africa at its center. Google is actively working towards expanding its user base and influence in emerging markets. Nigeria, with its large and youthful population, represents a significant growth opportunity for Google.

Big tech (Amazon) enters education in Africa in sensational fashion. (AppsAfrica.com)

• Why it actually matters: Africa's population has often found itself hindered by unequal access to education. In a substantial move that is sure to level the playing field, Amazon AWS has entered with a bang that will result in opportunities of a much needed magnitude.

• Summary: Amazon Web Services (AWS) debuts its first international AWS Skills Center in Cape Town, aiming to democratise cloud knowledge. This not only serves the local community but resonates with global efforts to close the tech skills gap. As Cape Town joins Seattle and Arlington in this initiative, it amplifies South Africa's position in global tech education and fosters economic growth through digital innovation.

Marketing Insight: To improve your sites ranking, move to a local hosting provider like Amazon. If they have data centres in the same region as your customers this will deliver the fastest possible website load time.

The enormous AI potential of Africa’s low ranking countries (Benjamindada)

• Why it actually matters: The African continent has been hampered by the delayed adoption of AI technologies. A focus on training and infrastructure can spark a tech renaissance, boosting local economies and addressing socio-economic issues for global competition.

• Summary: African countries rank lowest globally in AI readiness. Notably, Mauritius, South Africa, and Seychelles lead the continent. Mauritius and Egypt emphasise AI strategies, supported by government and data infrastructures. However, AI VC funding in Africa plunged 98% in H1 2023. Despite this, Africa's potential AI sector could amplify its economy by $1.5 trillion by 2030. Initiatives in countries like Senegal and Nigeria focus on bridging the AI skills gap, indicating a conscious effort towards digital transformation.

Marketing Insight: For African brands running regular Ai focused events and educational programs could position your brand as an industry thought leader whilst attracting the best talent in your industry.

There’ve been some impactful moves these last few months in Africa, and they’re providing opportunities left, right and centre.

Today we’re highlighting some interesting movements across the continent, and as always some tips to take full advantage them for your activities in Africa.

For better or worse, in sickness and in health - Crypto finally gets its regulatory oversight in South Africa (VentureBurn)

• Why it actually matters: The crypto industry has ironically been clamouring for regulation, because broad adoption of crypto has been hampered by the perspective that it is a fringe asset, a play-thing of tech nerds and get-rich-quick junkies. They’ve now got it - a definitive move to regulate crypto by SARB - and crypto providers are hopeful that the gates to institutional money might now have been opened.

• Summary: The South African Reserve Bank has officially (and finally, after many years of back-and-forth) classified cryptocurrencies as ‘financial assets’. It is the first major step in the direction of a full regulatory framework for crypto. The new legislation won’t solve crypto providers’ woes, but it certainly does mark a new era for the industry.

Marketing Insight: Before creating your ads, thoroughly review the advertising policies of Google and Facebook related to cryptocurrencies. Familiarise yourself with the specific restrictions, guidelines, and prohibited content. Both platforms regularly update their policies, so stay up-to-date.

A lightning-quick trade deal between Kenya & Luxembourg (AllAfrica)

• Why it actually matters: Europe is a massive consumer, Kenya is a massive producer. This duty-free export deal means Kenya’s agricultural produce will be significantly cheaper in Europe, putting Kenya in a super-powerful competitive position and likely a boon to its export economy.

• Summary: Brussels struck a deal in record time with Kenya, under which the African country will be able to export its agricultural produce to Europe duty-free. The move comes amid trying times for European food security as wild fires rage on around the continent, destroying farmland.

Marketing Insight: Create marketing campaigns that celebrate the collaboration between the two regions, highlighting the stories of Kenyan farmers and the journey of their produce to European markets. When it comes to agriculture, people value transparency within the supply chain to understand how their food is produced.

Nigeria’s new President ends currency manipulation (AfricaNews)

• Why it actually matters: Nigeria has long been openly manipulating its currency (the Naira) to suit its agenda, with the official exchange rate determined by its central bank, and an entirely separate exchange rate (priced in USD) which applies only to its export activities. The end of manipulated FX policy for Nigeria is akin to the end of the gold standard back in the 1960’s for the US - a major move that brings the country’s FX policy into the modern era.

• Summary: Nigeria’s new President Tinubu, who has been in power for just 5 weeks, has made sweeping changes to Nigeria’s foreign exchange policy in an effort to bring the country into the modern era, by scrapping it’s manipulated currency in favour of a single, open market exchange rate for the Naira. The short term effects on the economy have been highly mixed, but the move has been received well by the international markets.

Marketing Insight: Nigeria is rebranding itself as progressive and open to economic reforms, potentially attracting more attention from the international business community. Brands that join this progressive moment will benefit from the new era Nigeria is moving into.

Between illegal immigration apparently being a good way to attract financial aid, and the downstream implications of the Russia-Ukraine war, geopolitics strikes again, and we’re really intrigued with the dynamics!

Today we’re highlighting some interesting movements across the continent, and as always some tips to take full advantage them for your activities in Africa.

Big Retail becomes small retail as Shoprite exits to Nigerian firm who will franchise the supermarket (AfricaNews)

• Why it actually matters: African retail has long been dominated by micro-retailers like spaza shops and small, independent franchisees. The prospect of outsized returns for bigger firms has been pinned on this status quo changing and retail being gobbled up by Big Retail. But Shoprite’s exit of Africa’s largest economy, coupled with the acquirers plans to decentralise the chain, suggest that perhaps the independent micro-retailer model will prevail for the local context.

• Summary: Africa’s biggest supermarket retailer, Shoprite, has struck a deal to sell its Nigerian operation to a local firm who intends to change from an ownership model to a franchise one. Speculation is rife as to whether the core driver of the move is politically-induced by bad economic policy, or if the foundational retail model on which Shoprite is built simple isn’t working in Nigeria.

Marketing Insight: When running digital marketing within a franchise group, it’s best to centralise operations to ensure conformity in messaging and reduce costs across the board.

E-commerce Franchise Tip: Franchise models get battle tested within an e-Commerce environment as all branches need to present a unified pricing / business model.

Tunisia & Europe - a loveless marriage? (AfricaNews)

• Why it actually matters: Ironically, bad policy can turn out to be good policy sometimes… Uncontrolled illegal immigration by Africans, through Tunisia and into the EU, has turned out to be a huge bargaining chip for the country, which is netting Tunisia millions in aid packages and infrastructure partnerships in exchange for stemming the flow of migrants.

• Summary: The European Union and Tunisia have struck a deal on the back of much recent, illegal immigration activity that has been taking place as migrants funnel through Tunisia into EU states. Under the deal, Tunisia will take measures to stem the flow of illegal migrants that have been flooding through it’s doors to get into the EU, and ‘in return’ (not explicitly stated as such, but obvious enough) it will receive various aid packages from the EU including €65m worth of funding for 80 Tunisian schools.

Reject Club - Countries with downstream hurt are rallying to BRICS (AfricaNews)

• Why it actually matters: Trade between Russia and Africa is up 35% in the first half of 2023, according to Russia. With BRICS alliances becoming more entrenched and dozens of countries now looking to join the alliance to lessen the downstream blow of sanctions against Russia, either trade is going to keep expanding rapidly, or political fallout is imminent as the West pressures BRICS to parley.

• Summary: 40+ countries most hurt and most incapable of absorbing economic blowout resulting from Western sanctions against Russia (in the wake of their invasion into Ukraine), have expressed interest in or outright applied to join the BRICS trade agreement. South Africa, as host of the upcoming BRICS summit, is under pressure to reject these nations, as expansion of the alliance would provide Russia with more export destinations and undermine sanctions.

Marketing Insight: With Tech companies like Shopify suspending operations in Russia, open source Tech like Wordpress / Woo Commerce have been placed in awkward situation of having to govern “anti-war plugins” and polices on a relatively open marketplace.

Africa marches on with technology proliferation and ongoing urbanisation, not to mention blazing ahead in new industries like the hemp trade.

Today we’re highlighting some insightful marketing tips to take full advantage of your activities in Africa.

Marijuana Central: African Cannabis trade steps up (AllAfrica)

• Why it actually matters: The status quo of agriculture is poor countries produce and export to rich countries. This may sound morally reprehensible, but in practicality it is a boon for poorer African, Asian and South American countries… With South Africa taking major steps to legalise Marijuana production, the scope of the agricultural status quo looks set to expand - a major boost to the economy.

• Summary: South African President Ramaphosa plans to accelerate hemp and cannabis commercialisation, address sector conditions, and create jobs. The planned policies favour industrial scale over independent farmers, which has been controversial, but the prospects for African Cannabis production are looking golden right now.

Marketing Insight: Running SEO for hemp/CBD oil sites can be highly effective in boosting organic search visibility and driving targeted traffic to the websites. Major advertising platforms like Google and Facebook often have stringent guidelines and may limit or prohibit the promotion of hemp/CBD products.

Industry tip: build 2 brands 1 information site for PPC and a different eCommerce site for SEO due to policy compliance issues.

You get remittances, you get remittances… Everybody gets remittances!! (TechSafari)

• Why it actually matters: You’ve read stories left, right and centre (from us and others) about mobile money and payments across Africa. MFS’s story is yet another - an incredible scale - and it just goes to show that mobile money, global money transfers (remittances) are now par for the course and widely available.

• Summary: MFS Africa, founded by Dare Okoudjou, has connected over 400 mobile money wallets globally. They recently raised $200 million in a Series C round and aim to enable the seamless transfer of money across borders. MFS Africa's platform allows interoperability between mobile money wallets and other services, and it has worked closely with telecoms to launch mobile money services across Africa.

Marketing Insight: Ensure your site can effortless receive payment from the regions your are marketing in, accepting local mobile payments can increase customer conversion rates. Emerging markets might want to make mobile e-Commerce payments upon delivery or over Whatsapp.

Quadrupling (yes, that’s 4x!) tourism capacity in Morocco (AfricaNews)

• Why it actually matters: “Double digit growth” is laughable compared to Morocco’s plans (now signed and agreed) for it’s national airline. 4x growth in the carrier’s carrying capacity means Morocco is not going to so just double digit growth in tourism, but something on the order 400% growth in carrying capacity, which spills over into nominal tourism.

• Summary: Morocco's national airline Royal Air Maroc (RAM) intends to quadruple its air fleet by the end of the next decade, in order to support the development of the tourism sector. Morocco expects to play host to over 65 million tourists annually by 2037.

Marketing Insight: Morocco has become a global holiday destination, consider targeting airports locations to target a global customer who is interested in future holidays to other locations Africa.

Political and military events in the USA and Russia have had all eyes and ears these last weeks, but things are still going down across the African continent, including knock-on effects of the Russia-Wagner coup.

As always, the greatest opportunities arise from the greatest apparent travesties.

Africa’s darling unicorn, Flutterwave, partners with MSFT (VentureBurn)

• Why it actually matters: Flutterwave’s partnership with a massive institution like Microsoft Azure presents a realistic mechanism by which to achieve financial inclusion at the scale that is necessary for Africa.

  Africa population: 1.43 BILLION >>> a few banks and a few fintechs
  
  VS
  
  UK population: 69 MILLION >>> 100+ banks and 100’s of fintechs
  
  'Hold up, wait a minute, somethin' ain't right here'
  - rapped by Masego

• Summary: Flutterwave, a large Nigerian payments startup and Microsoft have joined forces to build a cutting-edge payments platform on Azure, bringing significant advancements to Africa's payments industry. The partnership will drive secure and seamless payment solutions for merchants across the continent.

Marketing Insight: Your online shop’s conversion rate could be affected if you don’t provide different ways for customers to pay that are suitable for the specific area you are advertising in.

Demolition by dynamite in Addis Ababa (Africa is a Country)

• Why it actually matters: Africa is rapidly urbanising. Big African cities are getting bigger faster than infrastructure can keep up, to the extent that important cultural centres are being sacrificed for the sake of economic prosperity.

• Summary: In Addis Ababa, Ethiopia, a culture-rich, money-poor neighbourhood faces demolition in six months. This reflects a recurring pattern of demolitions in the city. Locals and foreigners are debating the loss of cultural spaces against he city's development initiatives which have transformed the urban landscape (but often exclude and marginalise the local population).

Marketing Insight: If you focus on selling your products or services in cities that are becoming more modern and attracting wealthier residents, you will likely earn more money in return on investment (ROI) because people living there have more money to spend. So, make sure to regularly check where your GEO targeting is relevant to ensure you’re targeting areas that have recently become more prosperous.

Wagner Group & Russian military in Africa: What’s next? (AllAfrica)

• Why it actually matters: After the attempted coup in Russia by the private military group - Wagner - the security of nations like Mali and CAR are now in question. If the Wagner fighting forces are expelled, war and unrest may break out again.

• Summary: Uncertainty surrounds Russia's Wagner Group in Africa after a mutiny in Russia. Its presence and control are questioned, but its lucrative operations are crucial for Moscow. The future depends on Prigozhin and the fate of the group's sub-companies. Mali (among other countries), who initially welcomed Wagner's presence, now question its control and reliability.

Marketing Insight: Avoid placing your ads alongside news stories about the military to protect your brand from being connected with military-related matters.

The more we bury ourselves in African marketing, the more opportunity we find. This week, we’re highlighting some amazing areas of opportunity that we strongly recommend you look at. Enjoy…

Côte d’Ivoire 🇨🇮 Africa's Sweetest Startup Hub (TechSafari)

• Why it actually matters: Cape Town, Nairobi and Lagos… These are the only 3 African cities known to pretty much anyone in the UK/EU/US who plays in the startup or tech world. But Abidjan in Cote d’Ivoire is both up-and-coming and under the radar, while having 73% mobile money penetration, 10m more cellphone connections than there are people, and a currency pegged to the Euro which adds stability.

• Côte d'Ivoire stands as a gateway to Francophone Africa (those countries with French as the primary language), boasting a strong economy and promising growth opportunities. Notable Ivorian startups across various sectors have highlighted the country's untapped potential. Emphasising unique market dynamics, Côte d'Ivoire offers a platform for leveraging growth within the broader context of Francophone Africa.

Marketing Insight: Most of Francophone Africa (some 20 countries!) are heavily French, to the extent that English is rendered useless. While English-based marketing can be effective in European countries, where most people can still read English, this won’t work well in this region. Moreover, ads translated to and catering to French speakers are few and far between, meaning your French ads would stand out!

Nigeria’s Prembly is building security products for emerging markets businesses (Disrupt)

• Why it actually matters: Africa has historically been seen as an insecure destination for travelling, sourcing and even acquiring users to digital products and services. Prembly showcases that the continent is making strides in the direction of secure internet access, KYC processes and generally making digital activity safe, verified and secure.

• Prembly, a security infrastructure company, expands beyond identity verification with AI-powered solutions. It aims to address market gaps in emerging markets, offering tailored security and compliance services. With revenue generated from screenings, it aims to establish a presence in developing markets.

Marketing Insight: With local KYC and identity verification proliferating rapidly across Africa, new verticals - which previously have been circumspect in marketing into Africa - should increasingly open for business and market into Africa. Cryptocurrency, financial services and insurance of some such industries for which Prembly and similar services are now making Africa worthwhile.

R83m and three and a half years later only one RDP house to show for it (MoneyWeb)

• Why it actually matters: Stories indicating corruption and incompetence have gained an uncanny degree of attention in South African pop culture. Headlines like this are both startling and common, which ironically leaves opportunity, of course from a political and business standpoint, but also from a marketing one.

• Namibia Stop 8 Housing Project in South Africa faces delays, with only one RDP house completed out of 343. Bureaucracy, Covid-19, and relocation challenges contribute to the setbacks. An additional R43 million is needed to finish the project, raising concerns about progress and irregularities.

Marketing Insight: Local South African influencers have grown rapidly of late by producing content that mocks headlines such as this one. For marketers, content leveraging this pop culture fad (such as rich media content banding onto the absurdity of such headlines) is likely to produce significantly more engagement - which as the primary indicator of quality for social and search algorithms will in turn produce ROI.

• Why it actually matters: 90%+ of transactions in Africa still have a cash component. The scale of this partnership represents a step-change in access to digital payment systems with cross-border capability.

• Two major Pan-African fintech companies that facilitate payment processing, have formally launched a partnership to democratise card credential access in Africa to promote financial inclusion, affordable & secure digital payments, and offering in-roads for offshore businesses in the region.

Kaomi Marketing’s Insight: With digital payments becoming massively more available in Africa, PPC campaigns optimised against purchase events (like buying a product on an e-commerce store) will increasingly produce more results than upper-funnel optimisation (impressions-based or lead-based).

“The Super App taking Ethiopia by storm” (Techsafari)

• Why it actually matters: China has WeChat as its de facto ‘everything app’, Twitter has stated its intention to improve on the ‘everything app’ model for the USA... Hulugram is Ethiopia’s take on this same concept, and it’s growing like crazy.

• Hulugram offer its Ethiopian users everything from chat translation, social feeds, nearby connections and music streaming, to games, a marketplace with 7,500 merchants, wallets for payments, ride-hailing, food delivery, and a mini-app store, with plans to evolve into a fintech platform in the future. The app now has over 1 million downloads.

Kaomi Marketing’s Insight: Marketing through ‘everything app’ channels is still new and non-competitive, so embracing Hulugram as a mechanism for reach may well provide a competitive edge in Ethiopia's evolving digital market. (also, their mini-app strategy holds opportunity for those with development capacity)

“Livestock investment, without the farm” (Moneyweb)

• Why it actually matters: For the first time, offshore investors can tap into the thriving agricultural sector of South Africa without logistical encumbrance.

• There is a new investment platform in South Africa that caters to international investors who wish to gain exposure to emerging market agriculture. It offers a unique avenue for individuals to enter the lucrative livestock market without farm ownership, effectively by tokenising livestock on managed farms.

Kaomi Marketing’s Insight: Western portfolio and wealth managers care a lot about diversification, but casting bets on emerging market agriculture is all but impossible outside of commodities trading. Ads relating to a first time opportunity to place bets in emerging market agriculture are likely to capture attention.

• Why it actually matters: Increases Rwanda’s tourism capacity 8-14x (from 1m p.a.)

• Kigali International Airport’s expansion strengthens Rwanda’s economy, attracting more tourists, increasing trade, and spurring infrastructure development. Upgraded airport facilities offer a marketing opportunity, promoting Rwanda as a top tourist destination and benefiting local businesses, such as hotels, restaurants, and transportation services.

Kaomi Marketing’s Insight: Leverage Google Ads and Facebook Ads to Geo-Fence Kigali International Airport and target high wealth individuals traveling, this a great for B2B services struggling to get awareness with key decision makers.

“Jumia achieves lowest losses in four years under new CEO” (Tech Crunch)

• Why it actually matters: Jumia is Africa’s only unicorn with a HQ in Africa, and it’s profitability is a key metric VCs are interested in given recent global interest rate spikes.

• Improved financial performance signals potential growth and positive changes for Jumia, an African e-commerce platform.The appointment of a new CEO contributes to the company's reduced losses, indicating progress and potential for improvement.

Kaomi Marketing’s Insight: In emerging markets, focusing on key profitable products is even more critical to long-term profitability than in more developed markets. Growth at all costs is not always a wise strategy in emerging markets.

“Funding Fuels Payday Power!” (Disrupt Africa)

• Why it actually matters: It helps low-income individuals access future funds without taking out high interest loans. 

• Ugandan fintech startup Zofi Cash has just secured $1 million in pre-seed funding, fueling its mission to revolutionise its financial landscape. Zofi Cash's innovative approach, centred around empowering underserved communities through its mobile payment and banking solutions, aligns perfectly with the continent's increasing demand for accessible financial services.

Kaomi Marketing’s Insight: Disposable income is generally more available around pay-day. So schedule your Ad Campaigns to increase budgets around pay-day. This is known as back loading your budget.

—

If you’re curious about Africa, attend our free monthly webinars here to engage directly with people on the ground across Africa.

​​IMF Reveals Top 5 Sub-Saharan Economies to Watch in 2023

The article Top 5 Economies in Sub-Saharan Africa to Watch Out for in 2023, According to IMF" is a goldmine of information you don't want to miss.

The International Monetary Fund (IMF) has identified the top 5 economies in Sub-Saharan Africa that are poised for remarkable growth in 2023. This means big opportunities for investors like you! The article dives into the details, highlighting the positive economic movements and the factors driving this progress.

Why is this important? Well, it's a clear sign that Africa is a hotbed for potential investment. With these economies on the rise, foreign investors have a chance to tap into new markets, forge strategic partnerships, and enjoy the benefits of a flourishing business landscape.

WHO’S RAISING?

Making Waves in Africa: Join OceanHub's Pan-African Accelerator for Business Success!

Looking to dive into the exciting world of African startups? The article Apply Now to Join OceanHub's Pan-African Accelerator unveils a golden opportunity for UK and European businesses to get involved in this game-changing initiative.

OceanHub, a renowned accelerator program, is calling all ambitious entrepreneurs to join their Pan-African Accelerator and make waves in the startup scene. Why should you consider this? 

You'll gain access to a vibrant network of talented African entrepreneurs, investors, and mentors. This means invaluable connections and partnerships to fuel your business growth and a deep dive into the thriving African market. How’s that for tapping into untapped opportunities?

NOTABLE ACTIVITY BY NOTABLE NAMES

Netflix Sparks Excitement with the Debut of Supa Team 4

Netflix is about to unleash an African superhero extravaganza! In the article Netflix to Debut Supa Team 4, we dive into the thrilling world of this upcoming animated series that is set to take Africa by storm.

Netflix, the titan of streaming platforms, knows how to make a grand entrance, and they're teaming up with African talent to do just that. Supa Team 4 is set to showcase the rich and vibrant storytelling from the African continent while introducing us to a whole new league of superheroes. It's a powerful testament to the growing influence and recognition of African storytelling in the entertainment industry.

OF INTEREST

Is the Weaker Rand Your Ticket to African Investment Success?

Before you raise an eyebrow at the current eye-watering Rand/Dollar exchange rate, may we suggest digging a little deeper into the Rand’s wild ride over the past few decades? There are more than a few hidden benefits for savvy investors, even when things on the ground look pretty bleak.

Izak Odendaal, Investment Strategist for Old Mutual, explains the challenges of running with Rands, but also explains how a weak Rand brings in the big bucks for the folks earning from exports and foreign investments. Plus, it gives a warm welcome to tourists, making South Africa the place to be.

Explore the reasons for the Rand’s volatility, and where you can find unexpected wins. 

Read the full article here

—

If you’re curious about Africa, attend our free monthly webinars here to engage directly with people on the ground across Africa.