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Cashing In On Brand Africa

Cashing In On Brand Africa

From CNBC Africa

African brands are growing beyond the continent by simultaneously catering to local needs and doing business on a global scale.

“Local brands are still the dominant brands that Africans support. In the Brand Africa 100 survey, about two thirds of the most valuable brands in Africa are global brands, the rest are African brands. Within those brands, 72 percent of those brands come generally from South Africa, 26 per cent from Nigeria and two percent from Kenya,” Thebe Ikalafeng, CEO of Brand Africa, told CNBCafrica.com.

With the world being more open, African brands such as MTN, Dangote, Safaricom and Tastic Rice are not only carving a continental niche for them, and fruits of their growth are allowing them international exposure.

The remnants of Afro-Pessimism, according to Ikalafeng, however make it difficult for African brands to grow as quickly as others, as Africans themselves prefer to buy products and services not made in the continent.

“The purpose of bodies such as Brand Ghana, Brand Kenya, Brand South Africa, is really to drive the central messaging or positioning of the country. Secondly, to really push competitiveness of the country. IF we have a clear, consistent, coherent and desirable value proposition as an African country or Africa holistically, people will begin to support products of those countries,” Ikalafeng explained.

“The purposes of those institutions are really to drive that value proposition, that unified value proposition as well as to ensure that the countries themselves are very competitive. Having a unified national and Pan-African identity is quite important.”

Written by Wilhelmina Maboja /Read more at CNBC Africa