HM Research & Intelligence has announced that starting this year, its annual report on the public relations and communications sector in Nigeria, Africa’s largest economy, will be expanded to cover all of Africa, adding 53 more countries with a combined economy of over $2 trillion and over 1 billion population. This will be the first-ever report that will cater exclusively to the PR and communications industry within the African continent.
The Africa PR and Communications report is being compiled in partnership with the Public Relations and Communications Association (PRCA), the Chartered Institute of Public Relations (CIPR UK), CIPR International, the International Communications Consultancy Organisation (ICCO), Africa Communications Week (ACW), Wadds Incorporated, ID Africa, Plaqad Incorporated, and Magna Carta Reputation Management Consultants. Other partners are to be announced.
BHM Founder, Ayeni Adekunle commented: “Since we launched the Nigeria PR Report on January 29, 2016, we have witnessed the growth of the industry home and abroad; and five years after, we are pleased to confirm we are now expanding our research to cover a continent that holds plenty promise for the global communications sector. We hope the Africa PR and Communications report will quickly become the authoritative voice in the industry, providing insights, data, and useful information for those working here, as well as everyone outside looking in.’’
With 54 countries and an expected GDP of $5.6 trillion in four years, the continent is home to six of the top ten fastest-growing economies in the world. It is predicted that three of these countries – Nigeria, South Africa, and Egypt – will continue to remain in the top 10 by 2050.
Africa’s business climate has continued to grow at a rapid pace, the market capitalization of the top 250 companies in Africa increased by 69% to nearly $710bn. The effects of the COVID-19 pandemic have continued to take a toll on the economy across the world, but there are positive predictions of recovery.
The implementation of the African Continental Free Trade Area (AfCFTA) is further proof of the continent’s plans for the future, as it has the potential to create a continental free-trade zone with a combined Gross Domestic Product (GDP) of USD 3.4 trillion, according to the African Union (AU).
The data from the consumer and business landscape is proof of the need for a compendium of insights into the continent’s burgeoning PR & Communication landscape, especially as this is an industry that may be the only one equipped to fix the continent’s reputational crisis.
The 2022 Africa Report will contain verified facts and statistics on the Public Relations industry, analysis that can guide governments and multinationals, resources and recommendations that assist practitioners in building better careers and business models, designed to enhance and deliver value to all stakeholders. Ayeni adds:
“The past 28 months have been volatile for the world. It invariably highlighted our strengths and weaknesses as a continent. And the PR & communications industry was one of the first points of call in advising government and business leaders on wading through the times and supporting initiatives across the continent.
“Yet, this only showed a glimpse of the potential of the PR & communications industry. Because beyond health and financial crisis, as an industry, there is a dire need for professionals to be embedded in every area of policymaking, advisory, and management. It is important that the industry understands the almost impossibly heavy sense of duty it has to the continent and the people.
“However, we cannot do any of these without data-driven insights that will enable us to give the proper advisory required. By modeling well-founded world reports such as the Holmes Report, World Development Report, Relevance Report, Edelman Report, and others, we are hoping to create a standard global report that can easily be used for referencing details, instances, and facts about the industry.”
Moliehi Molekoa, a member of the APR board and the Managing Director of Magna Carta, a pan-African reputation management consultancy, says “PR professionals, now more than ever, have an increased duty to advise clients based on sound data and experience. APCR will be one of the key sources of that data. We are filling a void within the industry, and this report will better equip us as professionals as well as the businesses about the African PR landscape. It will provide valuable insights and how to build, manage and protect reputations with the overall aim of elevating the role the industry plays in brand building.”
According to the Economist, It is expected that Africa’s total population would reach nearly 2.5 billion by 2050 and BHM Group seeks to foster an in-depth understanding of the world’s business, tech, commercial and communications landscape, with the unique perspective that Africa provides.
Source Naira Metrics