Experts urge Africans to think long term in building brands

By Amechi Obiakpu

Experts in the Integrated Marketing Communications Industry (IMC) have called on Africans in general and Nigerians in particular to think long term when starting businesses.

They say that, this has become necessary, because of the dearth of global brands with African origin.

The experts said this recently at the 2018 LAIF Awards Master Class in Lekki, Lagos.

Speaking on the theme: “African Brands Revolution: Why Global Brands Dominate Africa,” former CEO/ MD, Insight Publicis Nigeria of the Troyka Group, Feyi Olubodun, said that building global brands take time. This according to him means potential business owners must think longevity while setting up businesses especially when the expectation is short term.

Quoting the Ostadine Institute on National Culture, Olubodun said: “When it comes to the issue of long time orientation, Nigeria is one of the lowest countries, as low as 13%”. Correlated with that, he observed that, “the indulgence level of the country is the highest among the countries in the world with about 90%”.

Those two, he said have sought of negative correlation, a factor he attributed to hampering business longevity in the country.

“If you look at that against China, their long time orientation is one of the highest in the world and their indulgence level is one of the lowest as well. So, you can really see why the Chinese are known for so many innovations and creativity,” he said.

“In order for you to really build multi-generational brands, one really must make sacrifices beyond the normal level,” he said.

He however advised that one aspect of our business orientation that may need to be addressed is the fact that people who want to build long time brands must reduce their indulgence level to the barest minimum and sacrifice for long time benefit.

On his part, Brands and communications strategist, Yinka Ijabiyi, posits that there was the need for Africa as a continent to assess where we are and work out modalities on how we can move the continent to where it should be, given a stipulated time frame.

Yinka Ijabiyi, who represented Folake Ani-Mumuney, Head, Corporate Communications, First Bank, said: “We celebrate and patronise brands when they come into the country, but local brands we do not patronise, because we see it as inferior until it goes out there and somebody repackages it and put a brand name to it before it can become acceptable”.

While disagreeing with the view that Africa problems are culture related, Thebe Ikalafeng said: “Our culture is what makes the continent different. The diversity and colour in our culture is what makes us unique which is what gives us the edge- one thing we can compete with naturally and with some of the winning ideas that we have.

He however challenged the government of African countries to be accountable to the people so that the continent can collectively grow from its present state.