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African Consumer Market Growth Opportunity Stands To Reap Powerful Rewards

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The burgeoning African consumer sector offers attractive opportunities to businesses looking to enter new markets. But the key to unlocking these opportunities is sound commercial navigation and strong sector insights. In addition, understanding the intricacies of the local consumer landscape is crucial.

Africa has millions of expectant consumers-in-waiting. Retailers, and businesses through the chain, which formulate competitive strategies and team up with the right local partners, are well positioned to benefit despite the current headwinds caused by the weak global market conditions.

Geographic opportunity on the continent can be found across several markets. South Africa remains the “gateway” to Africa, with a well-developed agriculture, food, beverages and retail market. Within the retail sector, Ethiopia is establishing itself as a clothing and apparel manufacturing hub, offering opportunities for clothing retailers looking to establish operations on the continent. Family conglomerates dominate the agribusiness sector in East Africa and are sizeable enterprises that rival multinationals. And opportunities lie in unlocking the route to market in Nigeria for the FMCG (fastmoving consumer goods), and food and beverage sectors, despite a challenging economic and regulatory environment.

Lifting the lid on some key statistics shows that the potential and growth of the consumer sector is expected to drive industry advancement well into the future.
The continent’s population is expected to reach 2 billion by 2050, accounting for 24% of the world’s population, a significant jump from 15% in 2010. In addition, a strong shift is taking place from grassroots LSMs 1-4 into LSMs associated with middle-class lifestyle.

According to United Nations data, almost 60% of Africa’s population will live in cities by 2050. McKinsey’s recent Consumer Sector in 2030 report anticipates that middle-class spending globally will almost treble by 2030, and the 2014 Africa Annual report by Ornico Group expects consumer spending on the continent to rise to US$1 trillion by 2020.
Another important factor is that there are currently over 950 million mobile subscribers in Africa, according to telecommunications researcher Ovum. This is a significant opportunity for retailers to harness by bringing their shop windows and value propositions into the digital world, which now includes rural-based consumers that were previously unreachable.
Africa’s large youthful population, upward urban growth trajectory, socially-connected mobile users, untapped physical resources and the deepening of the financial sector are the key trends propelling the African economy into the future.

“Institutional regulation and economic freedom vary widely across Africa. Given this complexity, Standard Bank’s specialists understand the regulatory environment and are well positioned to identify suitable local partners and evaluate opportunity against risk,” says Clive Potter, Global Head of Consumer Client Coverage in Corporate and Investment Banking.
Multinationals looking for new sources of growth will find an attractive and receptive market in Africa, where a large portion of disposable income is currently spent on primary and secondary food products and beverages, and where the demand for non-food commodities such as beauty products is expected to increase in the years ahead. In summary, the African continent is open for business.

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BOSS X Meissen Capsule Collection Inspired by The Big Five

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Johannesburg, 6 December 2019. BOSS celebrated its holiday capsule with an exclusive event on the 4th of December in Johannesburg.

Two internationally recognized German brands BOSS and Meissen came together for the first time. Inspired by Meissen’s celebrated Big Five figurines, a groundbreaking new collaboration united the two brands’ shared passions for quality, design and creativity.

The Big Five collection, designed by sculptor Maximilian Hagstotz, features the African lion, leopard, elephant, rhino and buffalo, each decorated with a monochrome pattern placed to emphasize the animal’s characteristic traits.

These majestic creatures, depicted in an angular style inspired by traditional African wooden sculptures, are the starting point for a unique capsule collection of BOSS Menswear and Womenswear.  The fashion capsule collection includes both casual and formal pieces for men and women, all in a monochrome palette of black and white.

To honor this special capsule and collaboration, BOSS and a local franchise partner SURTEE Group hosted an exclusive dinner just in time for the holiday season, with a special guest in attendance – the founder of Elephants for Africa organization Dr Kate Evans.

Guests, dressed in black and white, were greeted by a life-sized white Meissen elephant statue with elegant black and white canapés and black martinis awaiting them. The sophisticated evening had everything from the food, to the décor, drinks and dress code following the monochromatic theme. The charismatic Mark Bayley and former Miss South Africa Jo-Ann Strauss kept VIP guests entertained as co-hosts.

The evening culminated with a private performance by South Africa’s much loved Mi Casa. 

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Business Veteran Scoops Top Vision 2030 Award

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Business veteran and Group CEO of ITHUBA Holdings, Charmaine Mabuza has scooped the Top Woman in Education Award at the Vision 2030 Awards recently held in Emperors Palace, Gauteng.

This award recognizes Mabuza for her contribution in the South African education sector through the Eric and Charmaine Mabuza Scholarship Foundation.

The Foundation, established in 1999 by Mpumalanga business veterans, Advocate Eric and Charmaine Mabuza initially supported young and talented matriculants in the Mpumalanga region to further their tertiary studies. Since then, the Foundation’s reach has expanded throughout South Africa, producing Doctors, Accountants, Engineers, Quantity Surveyors and many more.

Commenting on the award, Mabuza said: “This award represents many years of hard work and determination towards the advancement of equal access to quality education for all South Africans. The mission of the scholarship foundation is to eradicate poverty through education, particularly in previously marginalized communities. As corporate leaders, we know that there is still a lot to be done, but we are ready and willing to do our part. We look forward to another decade of serving the nation”.

One of the beneficiaries of the Scholarship Foundation, Dr. Kate Lusiki who now works at the Rob Ferreira Hospital expressed her gratitude: “Since I started working, I have been able to renovate my mother’s house. I am currently staying with my older sister whom I am putting through college so that she too can also have a solid educational structure. I am able to do these things for my family because the Advocate and Mrs Mabuza afforded me an opportunity to education. This Foundation to me, has been like a better life handed to me on a silver platter, and for that I am eternally grateful.”

The 2020 Scholarship programme will launch with the new intake of students on 12 January with a week-long programme at the ITHUBA offices in Sandton.

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The Re-Awakening Of Some Of The Rarest Whiskies In The World: Johnnie Walker Blue Label Ghost And Rare Glenury Royal

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The season just got a bit more sensational for whisky connoisseurs, as Johnnie Walker releases the third installment in its ‘ghost’ series, with the remarkably rare and limited edition, Johnnie Walker Blue Label Ghost and Rare Glenury Royal.

This exceptional blend with bewildering layers of depth highlights, notes of candied fruits, spices and unrivaled smokiness. At the heart is the Glenury Royal whisky – the perfect gift to that whisky collector or whisky afficionado.

Ghost and Rare remains in dwindling supply since the shutdown of its birthplace, the iconic Highland distillery, Glenury Royal in 1985. Each bottle is handcrafted in small batches by the combined expertise of a small team of passionate blenders led by master blender Jim Beveridge,the sixth in an unbroken line of master blenders stretching back almost 200 years.

Ghost and Rare is complexly layered with the sweetness of honey and elegant smoke for a long and lingering incomparable finish. With only 1,600 uniquely numbered bottles in Nigeria and only 60,000 bottles made globally, this is a whisky that few others will ever get to taste.  

As one of the most sought-after whiskies in the world, Ghost and Rare is a perfect Christmas gift to appreciate a loved one or a discerning drinker who continues to walk with you.

Enjoy Johnnie Walker responsibly. Not for persons below 18 years

Content provided by Johnnie Walker

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