Government urged to protect African companies

Post was last updated: September 16, 2019

By Yohane Symon:

Global marketing expert Thebe Ikalafeng has urged African governments, Malawi inclusive, to start incentivising and protecting local manufacturing industries and help them build competitive brands on the global market.

Ikalafeng made the remarks on Friday on the sidelines of the 8th Marketers Annual Conference at Nkopola Lodge in Mangochi District.

“When you look at the results of the survey we do every year to determine the best 100 brands on the continent, only 17 percent of the mentioned brands are made in Africa, which means that there is an 83 percent rejection of African brands. This means that Africans prefer foreign brands to Africa-made brands,” Ikalafeng said.

He urged Africans to harness the African entrepreneurship spirit.

Commenting on the Buy Malawian Strategy, Ikalafeng challenged local manufacturers to learn to invest in branding and marketing.

Ikalafeng, however, applauded Malawi for championing the strategy which, he said, could work better if the government found ways of protecting local investors.

In his remarks, CIM Malawi President Golden Banda said they were happy that government was introducing legislation that protects local companies.

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link