Author: saf
Aprio supports launch of Zambian Breweries’ landmark $80 million investment project
Aprio ARM recently supported AB InBev’s Zambian Breweries subsidiary when it officially announced a major new investment commitment in Zambia.
In late June 2022, Zambian Breweries unveiled plans to invest US$80 million towards the construction of a new brewery in Lusaka, which will see the leading Zambian brewer double its production capacity.
The plant upgrade, scheduled to be completed by the end of 2023, is expected to create more direct and indirect jobs, expand the company’s agriculture out-grower schemes, offer further procurement opportunities for local suppliers and service providers, and contribute additional tax revenue to government. This investment is in addition to the company’s long-standing contribution to the Zambian economy over many years, with just under US$400 million spent on capital investment programmes in the last decade.
The US$80 million investment is part of Zambian Breweries’ strategy of creating and sharing value and will unlock innovative opportunities within the beer category, see a reduced reliance on imports, as well as open export options.
Working with the local Zambian Breweries and the AB InBev Africa Zone Corporate Affairs teams, Aprio ARM developed a comprehensive media engagement plan for the official announcement of the significant new investment commitment.
The plan included media interviews for Zambian Breweries’ Country Director, Michelle Kilpin, with leading South African and pan African media houses. Zambia’s President Hakainde Hichilema shared one of the media interviews on his personal Facebook page, which has over 1.4 million ‘followers’, welcoming and lauding the investment as critical to overall national economic growth.
Zambian Breweries’ Country Director, Michelle Kilpin commented, after the successful media announcement of the investment commitment: “This has been a super outcome with significant media outreach – the result of a strong plan and great teamwork!”
Aprio ARM services African markets primarily outside South Africa and has extensive working knowledge and experience across all of the continent’s regions in East Africa, West Africa, North Africa, Southern Africa and Indian Ocean African countries.
If you’re looking for a communications partner that understands the African audience, please reach out to Webster Malido on webster@aprio.co.za or call 079 516 1692.
Introducing Aprio ARM Botswana
Botswana continues to rank highly in terms of ease of doing business. The country’s macro-economic policy maintains a low, stable and predictable level of inflation, making it a regionally and globally competitive economy, attracting foreign investors and providing value to commercial enterprises.
Furthermore, the country has, over the years, developed significant skills in mining, construction, financial services, and tourism. Botswana continues to diversify its economy and benefits from talented and skilled individuals in key economic sectors.
If you’re looking to consolidate or expand your business in Botswana, Aprio ARM Botswana will ensure that your reputational and communications objectives are achieved seamlessly and effectively, nationally and beyond.
Whatever your sector – from mining, telecommunication, manufacturing, energy, health, technology, engineering through to financial services – we can help you safeguard your reputation and engage key stakeholders in a challenging socio-economic environment where there is no such thing as a low-risk industry.
Aprio ARM Botswana team
Our local team is led by Country Managing Partner, Ulla Setswalo, who has garnered years of experience and leadership in the media and strategic communications field across both Botswana and in the broader African region. She has previously undertaken consultancy work for Plato Institute in Greece. In recognising the need for integration and redefining corporate communication among the African countries, Ulla has a strong belief that it is time for Africans to efficiently take the lead in changing the narrative of the communications agenda for clients with a shared purpose.
If you are looking for a specialist communications agency to support your business or brand in Botswana, please contact Ulla Setswalo: ulla@aprioarm.com mobile number: +267 74723776
Extended Africa regional team
Webster Malido, Johannesburg, South Africa, profile (from Aprio ARM website)
Julian Gwillim, Johannesburg, South Africa (from Aprio ARM website)
Ulla Setswalo, Gaberone, Botswana ulla@aprioarm.com mobile number: +267 74723776
Visit www.aprioarm.co.bw for more information
How fintechs can build a firm base for expansion across Africa
In 2020, as the world was ravaged by the coronavirus, investment into financial technology (fintech) companies in emerging markets decreased as funders sheltered against a volatile, risky environment.
Except that’s not the whole story. True, funding in Latin American and Indian fintech companies declined, but investment in African fintech actually soared, according to research by Briter Bridges and BFA Global.[1] Africa saw fintech funding, including mergers and acquisitions, grow to $1.35 billion in 2020 from $1 billion in 2019.
[1] https://bfaglobal.com/catalyst-fund/briter-catalyst-fund-state-of-the-fintech-industry-report/
The trend reflects the increasing potential for growth in the continent. Africa has a growing population of 1.3 billion people, rising smartphone ownership and falling data costs. Several African nations have made digital transformation a priority, with a parallel investment in telecom and data infrastructure. Fintech investors also see opportunity among its large unbanked population – only 40% of adults in sub-Saharan Africa had a bank account in 2017.[1]
Most investments on the continent flowed to Nigeria, Kenya and South Africa, according to the Briter Bridges report, which surveyed 177 start-ups and 33 impact investors across emerging markets. South Africa led the way with $112m in investments, followed by Nigeria, which raised $74m, Kenya at $62m and Egypt at $51m.
The Briter Bridges research also breaks down investment by product category, and shows that in Africa, payment solutions receive the bulk of funding, followed by credit, insurance, financial infrastructure and neobanks.
Payment platforms have seen the most visible success in Africa, and there is huge remaining potential to formalise payment systems and reach the unbanked and underbanked. The benefits of financial inclusion to the unbanked and underbanked are significant, and could kickstart an era of more secure, more productive economic activity across the continent.
For many venture capitalists, Africa represents a blank canvas; a new frontier waiting to be conquered. This idea of the continent as a single potential market has been supported by the implementation of the African Continental Free Trade Agreement (AfCFTA), which looks set to usher in a wave of multinational fintechs looking to take advantage of more uniform trading conditions.
The reality is far more complicated, and far more interesting. Success in Africa still requires expert knowledge of its disparate markets, effective stakeholder engagement, local capacitation and a strategic reputation management strategy.
The potential of fintech, as well as its primary challenge, lies in its ability to scale. This has as much to do with marketing, reputation enhancement, partnerships, stakeholder relations and brand building as it does with the underlying product. In an increasingly competitive market, a fintech’s ability to differentiate itself and establish a public persona strong enough to carry it across a continent is an advantage as powerful as an innovative product. Companies can stand or fall based on their ability to develop and maintain a coherent, attractive brand proposition.
Laying a firm foundation for continental expansion, with a corresponding strategic approach to reputation management and stakeholder relations, can help prospective multinationals avoid many of the pitfalls that have stopped promising companies in the past.
To expand across a continent, partnerships need to be forged across a disparate set of geographies and operating conditions. There is also the expectation that multinationals will support local employment, industries and value chains. This requires communications competencies in terms of working with governments, regulators and communities.
Fintech moves quickly, and partners are on the lookout for newsmakers and growth. Make sure your successes are broadcast where potential collaborators can see them. In this regard, localised and centralised communications strategies need to take place concurrently. Knowledge of media landscapes and contexts within individual countries is crucial, as is an ability to tie individual stories together to craft compelling, organisation-wide narratives.
There is tremendous potential in Africa, and it is more accessible than ever for companies looking to expand. But as always, it rewards those who take a considered, strategic approach, and who keep the integrity of their brand and reputation top of mind.
[1] https://data.worldbank.org/indicator/FX.OWN.TOTL.ZS?locations=ZG
Introducing our new Africa division, Aprio ARM
Aprio is delighted to announce the official launch of Aprio: Africa Regional Markets (ARM).
The new division will be led by managing partner and shareholder, Webster Malido, who has extensive working knowledge and experience across all of the continent’s regions – East Africa covering Kenya, Tanzania, Uganda; West Africa covering Ghana and Nigeria; North Africa covering Egypt; Southern Africa covering Botswana, Mozambique, Zambia and Zimbabwe; and in the Indian Ocean islands of Mauritius and the Seychelles.
Webster is a highly skilled corporate communications executive with deep experience in the financial services sector and an extensive wealth of knowledge of African markets. He most recently served as Head of Communication for Absa Regional Operations (the Absa Group’s businesses outside South Africa) where he oversaw the communication workstream in the successful rollout of the Absa brand in previously Barclays-branded African regions. Prior to that, he served as Head of Marketing and Corporate Affairs at Barclays Bank Zambia (now Absa Bank Zambia) where he was a member of the country’s executive management committee.
Before moving into corporate communications, Webster worked as a business and political journalist and was editor at The Post newspaper in his home country of Zambia. At the time, The Post was the leading national daily. He was a non-executive director on the board of the Zambia Daily Mail newspaper between 2012 and 2015. Webster holds a Bachelor of Mass Communication degree from the University of Zambia and is currently completing his MSc International Business Administration with the University of London.
For more information about Aprio ARM and its service offering, visit our website at www.aprioarm.com or email Webster Malido on webster@aprio.co.za or call 079 516 1692