BRANDS MAKING NEWS
BRANDS MAKING NEWS
Friday, 02 May 2008 11:54
By Ken Gakuru
The hottest words on the lips of Kenyans are Safaricom and IPO.People are seeking ways and means by which they can subscribe to this new baby in the Nairobi Stock Exchange (NSE). Never mind that a prominent stock brokerage firm recently collapsed and that flimsy excuses were given to pacify many a disappointed investor. This goes to show the power of a strong brand even when faced with what my lecturer calls thriving in chaos.
Safaricom is one of the few success stories we have gotten this year. The word ‘safari’ reminds one of the once popular Safari Rally, an event Kenya really never got to capitalize on and showcase the country’s rich heritage. It is a word in Kiswahili that means journey. There is a quote in Brandcsape’s profile that best explains this-The journey of a thousand miles begins beneath one’s feet. True to that phrase, the journey of Kenya and East Africa ’s most successful company has been a long one. It has defied critics who predicted a rather gloomy future for the company. The strength of a brand is determined by a company’s ability to weather the storm of the turbulent markets in whish it finds itself in and emerge with its vision and mission intact.
Safaricom has been at the heart of activities that are unrelated to its core business, but which affect its customers. It has involved itself in social responsibility programmers in remote parts of the country, sponsored sports events and actively being involved in the daily lives of its consumers. Like a true brand, it has entrenched itself in the hearts, minds and pockets of the target market! It has set a benchmark for players in business in East and Central Africa; the only way forward is to conquer West, North and South Africa markets. This is very possible. Kenyan businesses have what it takes to impact Africa ’s economy positively.
I was watching CNBC, the new business channel for Africa and was amazed by the number of businesses taking place outside of Kenya . We have an opportunity to reach and be reached by markets only if we remove the psychological boundaries that limit us to thinking within our borders. The NSE needs to get its house in order because as a brand, its credibility has been eroded. Safaricom could not come at a better time for the NSE.It has been given a new lease of life and from a branding point of view, to clean up and do business as it is supposed to. A brand is supposed to exude confidence that it can deliver on its promises. If it is to reach the heights of the Johannesburg Stock Exchange, the NSE can borrow a leaf from Safaricom and win back the confidence of its customers.
