Catalyst - Issue 13 - Ignition Africa

Catalyst - Issue 13 - Ignition Africa

ignition africa in numbers Millennials online impact in South Africa Rwandas fourth industrial revolution Millennials now represent a huge opportunity for online marketing in South Africa. Rwanda is bidding to revolutionise its economy by adopting smart technologies, such as blockchain, artificial intelligence and robotics. It hopes these innovations can help overcome the challenge of being a small, land-locked country with a small private sector. The government aims to boost competitiveness through a wave of interventions, building on its Rwanda Vision 2050 and Seven-year Government Program national frameworks. As such, the National Industrial Research and Development Agency (NIRDA) will support the acquisition and adaptation of technology for firms through audit systems, thereby reducing the cost of adoption. The goal is to establish the country as a globally competitive knowledge-based economy and create 214,000 jobs every year. Rwanda is working under the assumption that the only path to industrial growth is through development, and the integration of science, technology and innovation into enterprise. It is also very aware of the broader economic threats and opportunities: McKinseys 2017 report on automation estimates that a high proportion of jobs in African countries will be automated 52 per cent in Kenya, 46 per cent in Nigeria and 50 per cent in Ethiopia. Number of millennials in South Africa Proportion of South Africas population defined as millennials Proportion of South African adults who have used online shopping to buy from overseas Consumer confidence diverges in West Africa Sources: FedEx Express, PayPal and Ipsos, BCG (2.7bn) Expected worth of online shopping sector in South Africa in 2018 Number of active social media users across Africa Increase in revenue for brands with personalised experiences online Consumers in Nigeria are feeling more positive about the future in financial terms, while those in nearby Ghana are less buoyant, according to Nielsen. Confidence among Nigerian consumers has risen because of stable foreign exchange markets, a steady currency and flat retail prices for most manufactured goods and imported staples. Now, 83 per cent of consumers describe the state of their personal finances in the next year as good or excellent. Asked whether they have spare cash, a majority of Nigerians (54 per cent) said yes, while 46 per cent said no. In Ghana, the outlook is not so rosy, and confidence dropped to its lowest point since 2016. Only a third (35 per cent) of consumers said now was a good time to buy things they needed. Respondents were evenly split over whether they had spare cash to spend. Despite the dip in confidence, the nations economy showed signs of positive growth. #boredofbeer in South Africa On International Beer Day, South African cider brewery Hunters made a bold play to grab the conversation on social media. The brand launched #boredofbeer to promote its new drink, Edge, which combines the satisfaction of beer and the refreshment of cider. The aim was to spark conversations and create engagement with the campaign. Consumers were encouraged to take photographs of beer that expressed their desire to try something different, with cases of Edge offered as prizes. Hunters is a minnow compared with its larger competitors, so this was a chance to use timing and a clever message to cement its status as a challenger brand and make a real impact. The strategy also chimes with the nature of the product by going against the status quo. Hundreds of people responded on social media with likes, photographs and comments. cim.co.uk/exchange