By Herman Manson (@marklives) The African continent isn’t quite the growth honeypot ad agencies had been hoping for. That said – it’s certainly a growth market. While it doesn’t match the growth rates in Asia or even Latin America, listed agency networks seem to have decided any growth is good growth given the state of especially their European operations. North Africa remains fragile – ZenithOptimedia forecast only 1% growth in ad revenue in the Middle East & North Africa as political turmoil post the Arab Spring continues to rock the region. The company expects 2%-3% annual growth from 2013 to 2015.
Growth in adspend globally is predicted by ZenithOptimedia to hit 4.1% in 2013 and 5.6% in 2015. South Africa will be one of the top ten contributors to that growth between 2012 and 2015.
South Africa in the South, Kenya in the East and either Nigeria or Ghana in the West of Africa generally gets the most buzz from agencies seeking investment in the region.