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Voices of Anakazi- Branding a Business

  • Broadcast in Women



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The biggest challenge to growing African brands has been local markets with little or no disposable income. It’s certainly never been about our products being inferior. The central issue is that it’s difficult to grow a brand if nobody in your country has the money to buy your product. An Accenture report on the African consumer market shows that since 2000, consumer spending in sub-Saharan Africa has grown at a steady 4 percent per year, reaching nearly $600 billion in 2010. The market is expected to be worth $1 trillion by 2020. The report says that the most significant contributors to growth are changing, with less reliance on exports and more reliance on domestic demand that is giving rise to an emerging middle-class who will become more demanding and more brand savvy as income levels and spending increase.