Africa road show 2015: Kasvavat Afrikan markkinat avautuvat Saharan eteläpuolella myös PK-yrityksille
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Kasvavat Afrikan markkinat avautuvat Saharan eteläpuolella myös PK-yrityksille; kasvava keskiluokka ja uudet markkinat.
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Africa road show 2015: Kasvavat Afrikan markkinat avautuvat Saharan eteläpuolella myös PK-yrityksille
- 4. 12 Countries, 350 mil people, 6,5 mil km2 9/1/2015 © Finpro4 The Urban rising middle class Urbanization rates vary between 20 and 25%
- 5. Africa 6.5% 7.2% 7.5% 5.0% 5.4% 4.8% 4.0% 3.9% 4.7% 3.3% 4.0% 3.0% Fastest Growing Region in the World China Brazil EU Japan Share of World Real GDP (%) Africa is expected to have the fastest growing population and GDP in the world, along with strong GDP per Capita growth Increasing relevance in the global economy Diversified Growth = over the past decade, the services sector has contributed over 50% of Africa’s GDP growth Large Urban Centers = 52 cities with populations of 1 million or more, comparable to Western Europe Rapid Urbanization = proportion of people living in cities is higher than in India and will be of 50% by 2030 Expanding Middle Class = bigger than India, 50% of Africa will have discretionary spending power by 2020 Agricultural Potential = 60% of the world's uncultivated arable land Enhanced Regional Cooperation = Intra-African trade represents c.11% of total African trade, with significant room for growth UK 2010 Africa 4% 2050 Africa 12% Africa: a Giant … … with Strong Growth Prospects Population (bn) Real GDP Growth CAGR Real GDP per Capita Growth USA India Source: Population Bureau. Source: CIRA. Source: CIRA. Source: CIRA. 2013 2025 2050 2010-2020 2020-2050 | 2010-2020 2020-2050 Sources: Harvard Business Review, CIRA. 0.6 0.7 0.8 India China Europe US LatAm Dev. Asia ME LatAm CIS CEE 3.1% 3.0% CEE CIS LatAm ME Dev. Asia Africa 5.2% 4.9% 4.7% 5.5% 3.5% 3.4% 3.4% 3.0% 3.6% 4.0% Africa represents a frontier market with an attractive growth profile, supported by healthy demographics and macro dynamics. Africa 1.1 1.5 2.4 1.3 1.4 1.7 1.4 1.4 1.3 0.7 0.7 0.7 0.3 0.3 0.4
- 6. • population is 45 million people, 1/3 of them living in urban areas • population is optimistic: 52% of Kenyans believe their household to be much better off in two years • shopping population is young: 66% of them are between the ages of 25 and 40 • Expanding middle class is spending its way to comfort: in the home, in health and fitness, in state-of-the-art schools and in communication services • For the middle class shopping malls are the place to be – Shopping malls are expanding in main cities – Garden City, a new 130, 000 m2 shopping space opened in 2015 and is the largest in East Africa The Growing Middle Class 01/09/2015 6 © Finpro 610,000 Kenyans spend more than $5,000 a year - the level at which households begin to spend more than a half of their income on items other than food Size of the middle class (% of population) 4,7% 2,1% Rate of urbanization Population growth Kenya’s Source: Afdb 44,9 21,5 18,7 12,1 7,7 5,3 Kenya Ethiopia Uganda Tanzania Rwanda Burundi
- 7. Consumers • The number of dollar millionaires in Nairobi is the fifth largest in Africa, and is expected to exceed 8,000 in 2020 • The high income class creates the demand for luxury products: Bentleys, Aston Martinis, Porsches and Jaguars can be seen in the streets of Nairobi. 01/09/2015 7 © Finpro • In East Africa about 2 million people become adults every year • Young people increase the demand for consumer goods as they are more eager to consume and try new products than the elderly • Especially young consumers are adopting a Western lifestyle as well as Western style consumer behavior By 2040, Africa will be home to one in five of the planet’s young people and and the world’s largest. In two generations it will have half of the worlds population under 25. Young ConsumersChina Kenya 6.3% 4% The High Income Class The share of highest income people in Kenya is projected to grow by 6,3% annually from 2011 to 2020, one of the highest rates in the world (4% in China)
- 8. Consumer profile Profile of average consumer is changing rapidly • Wealthier, better educated and increasingly conscious of price Urbanites lead the way • In Kenya consumption per capita per year is $1,526 while in Nairobi it is $2,827 • People are influenced by social media, their travel experiences, premium pay -TV and Internet • East Africans prefer luxurious, strong and visible brands – they want to show what they can afford • There are no clear preferences for foreign or local brands • Challenge: consumers’ reluctance to change brands – Flipside: instinctive brand loyalty once you get it • Some products tailored to suit local conditions – E.g. Samsung – Built for Africa products are designed for blackouts. 01/09/2015 8 © Finpro Prime drivers for purchasing decisions: • Recommendation • Affordability • Availability • Familiarity
- 9. GDP per capita: East Africa 9/1/2015 © Finpro9 0 200 400 600 800 1000 1200 1400 1600 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Ethiopia - GDP per capita, PPP (constant 2005 international $) Kenya - GDP per capita, PPP (constant 2005 international $) Rwanda - GDP per capita, PPP (constant 2005 international $) Tanzania - GDP per capita, PPP (constant 2005 international $) Uganda - GDP per capita, PPP (constant 2005 international $)
- 30. • Most new apartments are opting for a fitted kitchen and bathroom. The number of companies offering high quality fitted kitchen solutions in Kenya has increased from 3 to more than 10 in the past 5 years • Prafulchandra and Brothers Ltd have supplied Italy’s leading kitchen design brands since 2011 (e.g. Scavolini) • Duravit, a supplier of bathroom ceramics and furniture has opened an outlet in Nairobi • Boom in the real estate markets has led to increased demand for good quality bathroom and kitchen furniture. • Style of new apartments is Western and high quality materials are used for the surfaces • Wooden floors and especially laminates are popular • There is a growing market for exclusive furniture and carpentry Household 01/09/2015 30 © Finpro BoConcept opened its store in Nairobi in 2013. Panesar Interiors has manufactured high end furniture and interiors in Kenya since 1948
- 35. Health Spending • Middle class is the key driver of healthcare expenditure in Kenya and the region • Spending on medical care and other healthcare products is growing rapidly • Private insurance provides access to health services for the growing the middle-class – In addition to several credible local providers, international health insurers (e.g. Bupa) have established themselves in the market 01/09/2015 © Finpro35 0,75 m 1,5 m Number of private medical insurance covers in Kenya 2009 2013 Private expenditure on health as a share of total expenditure on health in Kenya (2012)62% • Diversified insurance products are reaching ever more people • Linda Jamii, a medical insurance product by Safaricom, Britam and Changamka allows their clients to purchase insurance through mobile phones • UAP Insurance covers can be bought at Uchumi supermarkets. Customers purchase a scratch card and activate the insurance policy by sending an SMS
- 36. Health and Wellbeing: Gyms • Kenya has witnessed a proliferation of gyms in recent years in tandem with the expansion of the middle class • Changing beauty norms as well as increasing cases of obesity contribute to the trend • Gyms are most often situated in shopping malls • They offer an increasing variety of aerobics and dance classes • Zumba is extremely popular • Yoga studios are popping up as part of a wellbeing and lifestyle boom • Many start training by hiring a personal trainer • Instructors are also available in most gyms as methodical excercising is a relatively new phenomenon 01/09/2015 © Finpro36 Racing Sports Gym opened in Westlands, Nairobi, in April 2014. By July it had approx. 72 visitors per day and and the number of members was expected to double within three months. In addition to regular gym equipment it also has a cardio room and a studio for aerobics, pure stretch and cross training.
- 38. Uchumi Tuskys Nakumatt $670m $300m $180m Supermarkets • Nakumatt has 46 branches in East Africa, mostly in Kenya, and it’s valuation has risen 2,5 times in four years to $400 million • Chandarana Food Plus has a 2,5% national market share in Kenya, but they target the high income niche in Nairobi with 8 branches • South African Massmart entering the market • The top 5 Supermarkets are branding their own labels aggressively 01/09/2015 38© Finpro Largest retailers (revenue in 2013, USD) • Share of population that shop in supermarkets / other formal retailers weekly: • 55% of Kenyans • 45% of Ugandans • 45% of Tanzanians • The consumption patterns are changing fastest in cities making a ready market for consumer goods. Retailers look beyond purely national markets concentrating in cities in the region.
- 39. Online Shopping • New online shopping sites are being launched continually – Bid or Buy, OLX, Nation Media Group’s N- soko, Jumia, Cheki, Rupushops, Closet 49 and Mama Mikes. – E.g. Jumia attracts 13,000-20,000 Kenyans daily to its website and has a common owner base with German Zalando • The most preferred and common payment method is cash on delivery, but M-Pesa and credit cards are also an option for payment 01/09/2015 39 © Finpro • There are 16,2 million Internet users in Kenya. • In urban Kenya, Internet penetration stands at 78%, propelled by affordable mobile broadband and high penetration (95%) of Internet-capable mobile devices. • 47% of people in Nairobi connect to the Internet daily
- 40. Food • The consumption patterns of food are changing rapidly • New foods will be demanded by middle class urbanites as people change their eating habits: The demand for pasta, energy drinks, cheese, wines, bakery products is increasing • Fast foods have picked up in popularity as city life becomes faster, e.g. KFC and Subway have opened shops. Local fast food chains such as Kenchic and Pizza Inn have expanded in recent years • Concerns about healthy eating are starting to show in the offering of products and the consumption of low fat, low sugar and functional food products • Sweets are not as popular as in Finland, but there are global brands like Werther’s and Chupa Chups • Panda licorice is sold in supermarkets and healthfood stores in Kenya 01/09/2015 40 © Finpro The first ever Nairobi Kitchen & Food Festival, held in July 2014, advertised itself as a “a huge celebration of all things culinary”.
- 41. Case: Urban Bites • Urban Bites potato snacks brand, produced by Norda Industries Ltd founded in 2008, has become one of the most popular in the East African market. • The brand has been successfully marketed as a cool, funky snack for teenagers and young adults. • Their manufacturer claims to have stumbled upon the business almost by accident: While visiting South Africa he saw corn bites sold in every street corner and spotted an opportunity since maize, oil and packaging are locally available in Kenya. • Currently Norda Industries Ltd has 20 different products selling in Kenya, Rwanda and Uganda • They produce approximately 500 tonnes of snacks a year. • The flavours have been developed through trial, error and lots of research to appeal to Kenyan taste buds. • The local vibe is also present in the packaging that features Nairobi skyline The packaging of Urban Bites is designed by Creative Edge, a Kenyan design and branding agency. The theme of the design “draws its inspiration from every day urban expressions found in art, fashion, music and freestyle”. The result, a matte package featuring Nairobi skyline in the background has proven to be a great success. 01/09/2015 © Finpro41 Click here to visit website
- 42. Dairy Products • Kenya’s milk consumption levels are among the highest in the developing world. – 4.2 billion litres annually, growing at around 2% per year – Milk sold in supermarkets in Kenya is mostly pasteurized and homogenized fresh milk, but UHT milk is also available – Most of milk is consumed with other beverages such as tea • Dairy products come mostly from local companies, but there is a growing market for imported dairy products, e.g. cheeses 01/09/2015 42 © Finpro Premiumisation and healthy indulgence: there has been an emergence of products targeting the middle class: yoghurts, low fat products, cheese Convenience: Dairy industry has the opportunity to expand the formats of its products to the eat-as-you-go market; small packs of ready-for-consumption products and snacks Affordability: lower priced packaging formats such as plastic pouches, longer shelf life products, smaller pack sizes Trends and opportunities
- 43. Superfoods, Dietary Nutrition, Dietary Supplements • Health spending increases as people become wealthier and life-style diseases become more common • Newspapers and magazines have lifestyle and health sections • Organic food products are gaining popularity. They are marketed as the healthy option. • Health blogs have lots of followers and offer e.g. cooking courses • There are small health stores connected to gyms and health centers, as well as health sections in grocery stores in Kenya • Healthy U health stores have outlets in the biggest malls in Nairobi, and an online store. They also offer nutritional consultation online. 01/09/2015 43 © Finpro Opportunities: superfoods such as fiber, northern superberries, oat products
- 47. China in 90’s 01/09/2015 © Finpro47
- 48. China in 2000’s 01/09/2015 © Finpro48
- 49. Mainontaa paikallisittain: Case Guinness • Guinness vetosi kongolaisiin kuluttajiin suunnittelemalla mainoksen, joka osoitti paikallisen kuluttajan ymmärrystä: riippumatta siitä, missä olosuhteissa eletään, tahtoo kongolainen tuntea itsensä erityiseksi ja nauttia elämän hyvistä puolista. • Katso mainos täältä 9/1/2015 © Finpro49
- 50. Yhteystiedot • Esa Rantanen – esa.rantanen@finpro.fi – esajuhani.rantanen@outlook.com – +254 716 546 168 (kenia) – +358 400 936 428 9/1/2015 © Finpro50