Sub-Saharan Africa set to make waves

I believe the region offers exciting opportunities and am not surprised by the interest advertisers are starting to show. This is great news for the industry. Those 'pioneers' who are willing to break into new markets and tap into a new space are trendsetters who are showing a new outlook on Africa.

TMC is an airtime sales company serving predominantly community radio stations throughout South Africa and radio and television stations in four sub-Saharan African countries. The latter is particularly exciting for TMC because sub-Saharan Africa's growing middle class, increasing political stability and phenomenal economic growth are establishing it as fertile new ground for global communications.

The world is realising that Africa is an exciting business destination. According to the World Bank, the economic outlook for sub-Saharan Africa is positive, with growth rising to 5.3% in 2012, and 5.6% in 2013. Excluding South Africa, the continent's largest economy, growth in sub-Saharan Africa is forecast to rise to 6%.

Gaining global attention

And while the traditional investment focus on the continent was predominantly in mining and infrastructure, consumer goods and services are now gaining global attention, which, when coupled with the growing middle class, offers exciting marketing and advertising opportunities. In addition, mobile internet traffic in sub-Saharan Africa is expected to increase 25-fold in the next four years.

In May, the International Monetary Fund's (IMF) Antoinette Sayeh, who heads up the IMF's Africa department, said, "Sub-Saharan Africa will be among the fastest growing places in the world ... second only to developing Asia."

All of this equals huge advantages to advertising in sub-Saharan Africa. The growth in the industrial, consumer and services sectors will bring about a huge demand for brands to reach their respective markets and advertising mediums such as TV and radio will grow exponentially.

In Lesotho, for example, we've seen a number of brands make a comeback following the financial crisis in that country. Many companies left but now well-known brands such as Edgars, Clicks, Foschini and Spur are back.

Including Africa in future growth strategies

Many of TMC's clients have indicated of late that they are looking at including Africa in their future growth strategies. This means the 21 commercial radio and TV stations looked after by TMC in Sub-Saharan Africa will have to gear themselves for increased competition.

The future is bright in the region, and already TMC clients are enjoying the benefits of being part of the 'new wave'. One Africa Television, Namibia's first commercial free-to-air television station, is now viewed as an icon in the country. It is a sought after career destination for many learners and has become a popular venue for educational visits by schools. In fact, after a recent visit to the office of the Namibian Prime Minister, the Student Representative Council of the Mavuluma Primary School in Katima Mulilo told their teachers that One Africa Television has to be the other place they visit.