YDx relaunches in Nigeria – the modern-day ‘land of opportunity’…
Despite the lingering political instability over the last few years, foreign investors, including big South African companies, continue to charge ahead with their aggressive expansion strategies into Nigeria.
This because, Nigeria is getting a lot right ahead of its African neighbours:
- Last year, Nigeria’s economy superseded South Africa’s to become the largest in Africa. It became the world’s 21st largest economy worth $500 billion! By 2050, it’s expected to become one of the world’s top twenty economies.
- Nigeria’s debt-to-GDP ratio is only 11%. To put things into perspective, South Africa’s is 46.1%!
- It has well-developed transport, communications, legal and financial industry sectors. Plus, it has one of the fastest growing telecommunications markets in the world.
- It’s rich in natural resources, including oil and largely underexploited mineral reserves! AND, cognisant of its value, Nigeria has introduced policies regulating imports to encourage local manufacturing.
“It’s reassuring to see an African country prosper so significantly in the treacherous economic conditions the world has faced since the crash of 2008.” Says Andrea Kraushaar, Research and Insights Director at Youth Dynamix (YDx), a leading youth and family specialist research, and marketing agency.
Nigeria’s youth have an incredible drive and foundation for success…
The country’s populace of over 174 million accounts for 18% of Africa’s total population. And a massive percentage of Nigerians – almost half – are under the age of 14!
Educating children is regarded as a community responsibility in some ethnic groups in Nigeria. Both boys and girls learn to be responsible and hard-working from the age five by contributing to routine tasks around the house and in the fields. The youth of Nigeria have been characterised as ambitious, enthusiastic, energetic and promising.
For these reasons, YDx has seen a growing demand for insights and activations in the youth market – not just in Nigeria but in the entire surrounding region.
“Brand and Marketing Managers alike are finding their jobs are being made easier by the introduction of targeted youth research and through the creation of innovative and targeted marketing campaigns for the youth.” Says Kunle Coker, the custodian of the YDx Nigerian office.
Nigeria is key to a sustainable African footprint…
Thanks to its strategic location and African focused foreign policy, Nigeria is a regional power with incredible influence that reaches far beyond its borders.
“All these contributing factors have shaped our decision to re-invest in and relaunch our branch in Nigeria with a view to empower local and foreign businesses targeting the youth, based on useful and responsible insights.” Said Jane Lyne-Kritzinger, Managing Director of YDx.
YDx also has offices in South Africa and Kenya and satellite offices in Tanzania, Ethiopia and Uganda.
In addition, YDx has a connected network representation in Ghana, Mozambique, Angola, The DRC, Namibia, Botswana, Mauritius, Madagascar, Zimbabwe, Egypt and Algeria.