MARKETING INFORMATION
Developing Benchmarks
Within Africa: Navigating
The New Markets
By Isaac T. Ngatia
I
n March 2018, 44 African leaders
met in Kigali to sign the African
Continental Free Trade Area. The
objective is to eventually establish the
Continental Free Trade Area (CFTA).
This will be the world’s largest free trade
area by number of countries involved. This
is expected to open the continent within
itself. It will facilitate movement of goods,
services and people within the continent.
This is long overdue as research has shown
that regional trade is one of the most
important pillars for economic growth.
Previously, most countries in the continent
have ran after international markets,
mostly in western markets. This could
have been in line with prior agreements
in the movement of raw materials or
commodities.
The intra-Africa trade will bring with
it new challenges as marketers develop
new markets; businesses navigate new
territories and expand their groups of
stakeholders within the continent. It
will provide opportunities for local and
regional businesses.
A stakeholder refers to any group of
individual who can affect or be affected by
the activities of an organisation in trying to
achieve its purpose (R.E Freeman, 1984).
Hence, as businesses within the continent
exploit the upcoming CFTA, which eases
movement, they will come across new
groups of people, and markets with their
unique demands and expectations. The
treaty will help in reducing barriers.
However, any researcher will tell you,
getting to market is only one dimension of
the overall success factors. Understanding
and meeting the success factors of any
Most multinational companies have long
known that every market requires marketing
strategies tailored to that market. However,
there are still lapses either due to budgetary or
time constraints. Meeting and managing the
different stakeholders in each market contin-
ues to be a major challenge
given market within the continent will
call for a customised approach.
Most multinational companies have
long known that every market requires
marketing strategies tailored to that
market. However, there are still lapses
either due to budgetary or time constraints.
Meeting and managing the different
stakeholders in each market continues to
be a major challenge.
We would therefore expect regional and
local businesses to face the same challenges
as they try to take advantage of this treaty.
The previous wider view of ‘Africa market’
has led to one-fit all solution for the
continent. The international markets have
long held this view given the continent
has contributed not more than 3% of the
global trade.
Businesses and researchers within the
continent now have a chance to develop
local and continent-wide benchmarks.
This is important given the fact opening
of boundaries for trade and movement
of people does not imply acceptance
within the new markets. Cultural and
religious factors, varied consumption and
usage patterns, habits… etc varies across
markets within the continent. Hence, a
review would include a top-down (from
continental level to a market/sector level)
and vice versa (bottom-up).
Benchmarking various aspects – be it
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