Corporate Organizations Urged to Leverage Branding to Boost Revenue in Post COVID-19 Economy

Hamid Ayodeji 

 As African brands surged 4 per cent to 17 per cent from all time low of 13 per cent in 2020, corporate institutions have been urged to leverage branding to boost their revenue after the devastating effects COVID-19 on their businesses. 

This, the said, has becomes imperative as there is the urgent need to rebuild businesses and key into African Continental Free Trade Area (AfCFTA) which is aimed to drive greater intra-African trade.

Speaking at an event, Founder of Brand Africa, Thebe Ikalafeng pointed out that as we emerge out of the pandemic and Africa seeks to assert itself, the results are very inspiring and bode well of an African renaissance led by competitive world class African brands. 

“So companies must take advantage of these trends of growth the industry is showing after a declining period. After a five year decline, African brands have surged 4 percent to 17 percent from an all-time low of 13 percent in 2020 and 2021 in the 2022 Brand Africa 100, as well as Africa’s Best Brands survey and ranking of the best brand in Africa, ”he said. 

Commenting on the data gathering process, the Director of Research, GeoPoll, Bernard Okasi, said, “With increased number of countries and greater sample size this year, more than ever, and especially so during the pandemic, mobile proved to be the effective tool for us to reach and access respondents across the continent.” 

On her part, Chief Growth Officer Africa Middle East for Kantar, Karin Du Chenne explained that despite volumes of brands analysed as a results of increased sample size in terms of respondents and countries, the survey continues to yield a very consistent picture of brands and trends that are transforming the continent.