The Business Executive Magazine - Issue No. 89

DI P LO M AC Y

stretch of the Accra-Kumasi
Road, Kumasi Youth Centre,
Office Block of Ministry of
Defense, several rural basic
schools and Complex of
Ministry of Foreign Affairs and
Regional Integration.

The projects provided by the
Chinese Government also
include the Sports Complex
in Cape Coast, campus of
the University of Health and
Allied Sciences in Ho and the
New Century Career training
Institute Expansion Project in
Accra. Those supported and
contracted by the Chinese
side are the Bui Hydro-
electric Dam, Kpong Water
Supply Expansion Project
and Atuabo Gas Project.

On economic and trade

President Xi Jinping and President Akufo-Addo relations, Sino-Ghana

cooperation have increased

When asked why should Chinese companies After the signing of the agreements, President significantly when the
invest in Ghana ahead of other countries in Akufo-Addo attended the third summit of the
the region, and why is now the appropriate FOCAC on 3rd-4th September, 2018, held in bilateral trading volume registered US$5.434
time? The former Deputy Information Minister Beijing under the theme ‘China and Africa:
answered: “Ghana has distinguished herself Towards an Even Stronger Community with a billion and the number of newly-registered
as an investment destination of choice in Shared Future Through Win-Win Cooperation.’
sub-Saharan Africa over the years. This is FOCAC provided a diplomatic mechanism Chinese investment projects topped Ghana’s
predominantly due to Ghana’s impressive to promote dialogue between China and
democratic credentials, entrenched by Africa, and also facilitated the development Foreign Direct Investments (FDI) list in 2012.
the country’s successive peaceful and fair of a common political and economic
elections. For this reason, the country is a agenda to advance constructive South-South The Sunon Asogli Power Plant invested
peace haven, an attribute necessary for a cooperation for the mutual benefit of both
conducive investment environment.” sides. by the China-Africa Development Fund

and Shenzhen Energy Group have been

connected to the national grid of Ghana in

2011 and now accounts for around 14% of the

country’s electricity generation.

In October 2000, Beijing launched the FOCAC China and Ghana established diplomatic Exchanges and cooperation
to elevate its relations with Africa and utilize the relations on 5th July, 1960. The founding
Forum as a platform to coordinate Chinese fathers of the two new-born republics laid Exchanges and cooperation in the fields of
foreign policy towards the continent. The a solid cornerstone for the development culture, education and health have also
Forum also seeks to help nurture, consolidate of the bilateral ties. In recent years, fruitful improved considerably over the years. For
and broaden relations between China and achievements have been made in various example, the Chinese Government granted
Africa. fields of bilateral cooperation, especially under 111 scholarships to Ghanaian students in 2013-
the framework of the Sino-Africa Cooperation 2014 academic year. Training courses and
Ghana and China signed eight Cooperation Forum. seminars of diverse forms have benefited more
Agreements and Memoranda of than 500 Ghanaians from various fields in 2012.
Understanding (MoUs) in different sectors of China prizes the unity and cooperation it has The distance learning project at the University
their economies to help consolidate their with developing countries such as Ghana as of Ghana was put up with Chinese assistance.
bilateral relations. The agreements and MoUs the basis of its foreign policy. China attaches
were signed when President Akufo-Addo paid great importance to all-round friendly and The Chinese have also initiated the Chinese
a state visit to China. President Akufo-Addo cooperative relations with them. China Ambassador Scholarship Program in several
and his Chinese counterpart, President Xi actively seeks mutually complementary well-known Ghanaian universities since
Jinping held bilateral talks prior to the signing economic, trade, and sci-tech cooperation 2012. With the financial help of the Chinese
of the agreements on 1st September, 2018. channels; enhances consultation and Government, the first Confucius Institute in
cooperation with them on international issues; Ghana at the University of Ghana was set up in
One Belt One Road MoU and jointly defends the rights and interests of May 2013. The two consecutive medical teams
developing countries. dispatched by the Chinese Government have
relieved lots of patients of illness and donated
The agreements include One Belt One Road Provided economic several batches of sophisticated medical
MoU, Memorandum on Regional Aviation assistance equipment to local hospitals.
Cooperation, agreement for cooperation
in the peaceful use of nuclear energy, In that spirit, China has provided economic Despite the recent influx of Chinese nationals
Cooperation to carry out Maternal and Child assistance to Ghana within its capacity into Ghana and their engagement in illegal
Health Project and Framework Agreement and made vigorous efforts to promote the artisanal gold and diamond mining, locally
on Financing Insurance Cooperation (US$2 development of cooperation between the called ‘galamsey,’ the relations between the
billion Sino-Hydro deal). The rest are: Economic two countries. For instance, the Chinese African and Asian countries are still strong, and
Cooperation on Phase 2 Project of the Government assisted Ghanaians in the are being improved for their mutual benefits.
University of Health and Allied Sciences in Ho, construction of the National Theater, Afefi
Cooperation on the Expansion of the Cape Irrigation Project, Dangme East District Hospital
Coast Stadium and Cooperation on the Supply and Teshie General Hospital. The others are
of Police Vehicles to the Ghana Police Service. police and military barracks, Ofankor-Nsawam

The Business Executive 47

G LOBAL economy

US-China trade war to
cost US$455 billion in
lost output - IMF

The International Monetary Fund The Federal Reserve – the US central Trump’s trade wars with China, Mexico
(IMF) has called for a speedy end to bank – has signaled that it is prepared to and Europe had sent global investment
the deepening trade war between cut interest rates to boost growth amid tumbling. The IMF’s sister organization
the United States (US) and China signs that the world’s biggest economy predicted that the upshot of increased
after calculating that the tit-for-tat tariffs is weakening. Private sector job hires, political uncertainty would push down
will cost $455 billion (£357.5 billion) in lost as measured by the ADP national world growth to 2.6% this year – its weakest
output in 2020 – more than the size of employment report in early July, stood since 2016.
South Africa’s economy. at just 27,000 – the weakest for nearly a
decade. In a related development, stock markets
Christine Lagarde, the IMF’s Managing around the world rallied sharply as hopes
Director, underlined her organization’s Lagarde said while there was some of a peace deal in the US-China trade
growing concern at the most serious evidence that the global economy might war rise. Shares on Wall Street hit intraday
outbreak of trade tension since the 1930s be stabilizing there were “stumbling highs after President Trump and Xi Jinping,
and said “self-inflicted wounds” had to blocks” that could prevent a rebound. the Chinese President, agreed to resume
be avoided. In a paper prepared for the “Most importantly, there are growing trade negotiations following a meeting
meeting of G20 Finance Ministers and concerns over the impact of the current at the G20 gathering of world leaders in
central bank governors in Japan, the IMF trade tensions. The risk is that the most Japan. Trump said the meeting with Xi had
calculated that the recently announced recent US-China tariffs could further been “excellent” and that the relationship
intensification of protectionism would cut reduce investment, productivity and with China was “right back on track”.
global gross domestic product by 0.3% in growth. The just-proposed US tariffs on The US President promised there would be
2020. Mexico are also of concern,” she said no additional tariffs on Chinese imports
in a blog post to accompany the IMF’s for now – a key concern among investors.
The Washington-based IMF said that taken surveillance report on the state of the China also agreed to hold back from
together with the tariffs announced last global economy. “These are self-inflicted imposing tariffs and will purchase more US
year the total impact would be a 0.5% wounds that must be avoided. How? By agricultural products.
hit to activity next year. “This amounts to removing the recently implemented trade
a loss of about $455 billion, larger than barriers and by avoiding further barriers in The long-running trade dispute between
the size of South Africa’s economy,” whatever form,” she added. the US and China has served as a
Lagarde said, noting that there was strong handbrake on the global economy over
evidence that the US, China and the Trump has said US tariffs are designed recent months, dragging down factory
global economy were the losers from the to protect workers in America’s output as international imports and exports
conflict. industrial heartlands from unfair Chinese dwindle. Trump has slapped import tariffs
competition, but Lagarde said the on $200 billion (£158.1 billion) of Chinese
US President Donald Trump has so far result was higher prices. “The fact is that goods, while China has retaliated with
ignored warnings from the IMF and protectionist measures are not only hurting higher taxes on US imports worth $60
other international organizations about growth and jobs, but they are also making billion.
the impact of his trade measures and tradable consumer goods less affordable Mark Haefele, the global chief investment
has recently threatened action against – and disproportionately harming low- officer at the Swiss Investment Bank, said
Mexico unless its government halts the flow income households,” the boss of the the truce would likely be prolonged as
of migrants into the US. Washington said a Bretton Woods institution said. an escalating trade conflict would cause
5% tariff on all Mexican goods would be damage for Washington and Beijing. “[It]
imposed as early as the second week of Lagarde’s intervention followed the latest could slow US growth ahead of next year’s
July and will rise to 25% by October. half-yearly health check on the global presidential election,” Haefele said.
economy from the World Bank, which said

48 The Business Executive

G LOBAL economy

Trade wars could
shipwreck global
economy-top
banker

Trade tensions triggered by United economic outlook, though they remain property protection to control of the
States (US) President Donald Trump’s relatively upbeat about their own technologies underpinning the fourth
tariff policies could “shipwreck” the financial situation, likely reflecting robust industrial revolution,” he said.
global economy and are having a labor markets. This is a similar pattern to
chilling effect on growth, Mark Carney, that which emerged in the UK following He noted: “The longer current tensions
the governor of the Bank of England, has the referendum,” he said. persist, the greater the risk that
recently warned. protectionism becomes the norm. Once
In a speech titled “Sea change”, Carney raised, tariffs are usually slow to be
Carney said that policymakers were pointedly referred to Shakespeare’s lowered. Consider that half a century
underestimating the impact of the US ‘Tempest’ and the threat of a ago the US imposed tariffs on light trucks
president’s trade spat with China, Mexico shipwrecked economy. Speaking to due to a dispute over chicken exports
and the European Union (EU). He added representatives of local authorities in to Europe. While the chickens were
that trade tensions had increased the England and Wales, he said: “Whether soon forgotten, the truck tariffs remain in
“downside risks” for a United Kingdom current trade tensions shipwreck the place.”
(UK) economy already grappling with global economy or prove to be a
Brexit uncertainty. tempest in a teacup will have an Unlike other central bank governors,
Carney said: “The more hostile and important influence on the outlook for Carney has refused to signal an easing
uncertain trading environment is growth and inflation in the UK.” of monetary policy, saying that it is likely
coinciding with sharp slowdowns in The warning came as President Trump a no-deal Brexit will force Threadneedle
global trade, manufacturing, industrial threatened fresh tariffs on $4 billion (£3.2 Street to cut rates to prevent a recession,
production and capital goods orders. billion) worth of European products, but the decision is not inevitable. But he
As a consequence, the quality of global including scotch whisky, ham and olives said there was strong pressure on central
growth has deteriorated. Across the G7, in a bid to force the EU to back down in a banks in economies that are already
the growth rate of business investment long-running row over aircraft subsidies. affected by slowing growth to cut interest
has almost halved since its peak in late rates his year. “In some jurisdictions, the
2017, leaving the global expansion Trump has agreed to restart talks with impact may warrant a near term policy
more reliant on consumer spending and China over tit-for-tat import duties, response as insurance to maintain the
reducing its resilience.” following a discussion with President expansion,” he said.
Xi Jinping of China at the recent G20
Carney, a Canadian national who conference in Japan. The US has imposed Mario Draghi, the European Central Bank
also holds Irish and British citizenship, tariffs on $200 billion worth of Chinese (ECB) president, has already signaled
leaves his post January 2020 and could goods and Beijing has retaliated with that falling inflation and growth in the
be a candidate to replace Christine duties on US products worth $60 billion. Eurozone would warrant extra support.
Lagarde as head of the International Draghi is expected to say at the ECB’s
Monetary Fund (IMF). He said that the As Carney noted in his speech, Trump next meeting later in July that he will keep
uncertainty causing tension in the global has called off talks with Beijing in recent interest rates at historic lows for longer
economy mimicked the experience of months, only to reinstate them weeks than previously signaled in an effort to
British businesses and consumers in the later. “The latest actions raise the encourage borrowing and investment.
UK after more than two years of Brexit possibility that trade tensions could be far
negotiations. more pervasive, persistent and damaging In the US, Jerome Powell, the Federal
than previously expected. The rationales Reserve boss, has faced a barrage of
“Business confidence has fallen across for action are broadening. Initially criticism from White House employees,
the G7 to its lowest level in five years, motivated by concerns over bilateral including trade adviser Peter Navarro, for
with sentiment among manufacturers trade imbalances, trade measures are refusing to cut rates to bolster growth.
particularly weak. Households have also now being taken in response to issues
become gloomier about the general ranging from immigration to intellectual

The Business Executive 49

The Business Executive

ICT

How Companies Can
Use Instagram to Sell Products

There are a lot of people can share their successful stories How can you use Instagram as a successful marketing
of effective social media marketing, depending on the channel to increase B2B sales? In order to make your
industry, the target audience and the overall strategy. marketing strategy worthwhile, you need a business account.
Creating a business account on Instagram is free. You need
When it comes to devising a business-to-business (B2B) sales it because, unlike regular accounts, it will give you access to
and marketing strategy, visual content is always a good thorough analytics to measure your metrics and, of course,
choice. Considering that social media is based on visual your success rate.
content, it may be regarded as a proven effective channel
that can boost sales, grow brand awareness or solidify Creating a Instagram business account
commercial relationships. Step 1: Download the app if you don’t already use it. Launch
There are over one billion people who use Instagram and half it and sign up. You can do this easily if you have a Facebook
of them check their profiles every day. We found out that half account and sign in with it.
of the companies with 100 or more employees are using this
platform and 200 million users are visiting at least one business Step 2: Set up your free business account. Launch the app
profile every day. and find the ‘Setting’ section and scroll down until you find
the ‘Switch to Business Account’ option.
These numbers mean two things. First, we learn that Instagram Once the switch is completed, you will be able to update
is a great place for a company that wants to market its brand your account with useful information such as business hours,
or products on a social media platform. Secondly, we also business address or phone number.
learn that there are a lot of opportunities out there for a
B2B company and marketers should use them in order for Step 3: Post, comment and follow users and get new followers
their messages to be heard and received by their targeted like you have already done with your personal profile.
recipients.

The Business Executive 51

ICT

To summarize, here are the main benefits of owning a Another good example in this case is IBM and their inspirational
business account: Instagram feed. We can take a look at HubSpot, another
company that manages to use Instagram successfully in
• Access to analytics: Get real time metrics and order to sell its products. Its try to educate the community
monitor your daily performance for all types of posts you through its Instagram posts, and it seems it is doing it right.
publish via Instagram. Consider that almost half of the posts that are published on
• Get insights into your audience/followers: Find out Instagram use emoji to convey messages and emotion. This
how to adapt your strategy based on how they interact with is another option you can take a look at in order to brand
your posts and stories published. your content.
• Add information about your company: Make it
accessible to the audience by adding your business hours, 3. Make it look professional
location and phone numbers.
Using Instagram to increase B2B sales Branded visuals are important but it is important to give them
a professional look in line with your corporate/business style.
1. Offer insight into your company’s values and culture Here you have three options:

Whether your followers are regular Instagram users or •Learn to design professionally. This is a process that will take
individuals who represent a company, they will want to see a lot of time and resources, but may be a worthy investment,
who you are and what you have to offer in terms of corporate depending on your long-term goals.
values and culture before buying your products.
• Hire a professional designer. This is the easy way
Some questions that the followers may ask without knowing out, but not the cheapest of them. You can find professional
they do: designers easily on Dribble, Behance and Instagram.
• Who are you?
• What are you talking about? • Use professional tools that are easy to apply for
• What is your company policy? marketers such as Visme or Bannersnack. The costs are
• Who are your employees? minimal but the benefits are many. I usually work with both
• What are your employees like? and my choices depend mostly on the type of content I
• What are they working on? need to create.
• Who are your partners?
Visme will allow you to create all types of graphics with a
A good example in this case comes from Adobe. The wider range of choices, including infographics, presentations,
company that brought us some of the best design software Venn diagrams and flowcharts. You can choose the one that
knows how to advertise itself on Instagram. best fits your style and needs and use it right away.
It is really about inspirational images and good-quality
designs, just like the people who use their tools are supposed Visme allows you to create square infographics for Instagram.
to create. Everything that is on their timeline talks about who If you are not limited to Instagram, Bannersnack’s generator
they are, what they are about and what they bring to the would be a good choice because it allows you to create a
table. series of visuals for all social media platforms. You can create
squared content, portrait and landscape images, give them
2. Make it branded a professional look and save them in cloud storage for future
reference.
Branded content is always a good choice when it comes to
B2B sales and marketing in general. Why? Because you need 4. Use Instagram Stories
to be clear about who you are and make yourself visible to Instagram Stories is one of the best features that was added
the audience using everything you have. Visual imagery and during the past few years on Instagram. It copied Snapchat
visual data are two of the most important assets in this case. but soon it surpassed its source of inspiration and became
worthy to be mentioned and tried by any marketer.
What can you use? You can use almost anything, starting
with the logo, the most well-known visuals, your branded Instagram Stories are great because they allow marketers
colors and designs. to be spontaneous and true rather than spend their time
designing a perfect visual. This happens because Stories
Everything is branded there, starting with the colors and up to are a type of volatile content that in normal circumstances
the graphics. This may not immediately sell their services, but is deleted after 24 hours. You can share behind-the-scenes
most certainly, it would create awareness and a steady pool content and product-based content.
of followers which may lead to sale increase that company
aims at. 5. Advertise your podcasts on IG
A growing number of users are listening to podcasts
nowadays. The demographic group that chooses audio
content instead of the traditional text-based content is wide
and includes both young and adult audiences worldwide.

Podcasts are becoming one of the main types of creative
content due to the fact that these days almost everybody has
a smartphone and that audio content is easier to consume
while commuting from one place to another. It is also easy to
consume audio content while you are engaged in another
activity that does not allow you to pay full attention.

52 The Business Executive

ICT

You can promote your products or services with a this a good example? When
podcast and at the same time, promote your podcast as you are trying to create
a content marketing source for branding with Instagram. a B2B sales strategy, you
How? might need to understand
that your products may not
• Post relevant images from your recording always be appealing as
sessions they are. UPS, in this case,
• Post behind the scenes images with your advertises their cardboard
important guests boxes, packing tapes and
• Create short audio/video trailers for your other similar products that
upcoming episodes may be considered as
• Feature well-known guests and their best dull. However, with user-
quotes. generated content, these
Two examples regarding this topic: The first one comes products become exciting
from Gary Vee, one of the most popular entrepreneurs through real-life stories
who uses Instagram Stories to promote his podcasts. posted by real people who
use them.
The other example comes from Kevin Rose, who creates
inspirational posts by using quotes from his guests and 7. Use Instagram’s
promotes them on Instagram. Please, do these: Shoppable Posts
• Choose from hundreds of professionally
designed templates. When it comes to products
• Create graphics for Instagram, Facebook, sales, a dedicated
Twitter, Pinterest, YouTube and more. commercial feature seems to be the best option for
a regular shop or even a B2B company. Instagram
• Tap into millions of free images and thousands Shoppable Posts is one of the latest additions to the
of vector icons Instagram environment and is intended to make the
platform friendlier for commercial brands, for stores, shops
6. Encourage user-generated content and B2B businesses.

One of the best ways to conduct social media marketing On your business Instagram account, these posts will be
is to engage actively with the audience. It will help you marked by a shopping bag icon displayed in the bottom-
more, however, if you let the members of these audiences left corner of the screen. How to get started with this
become the main protagonists of your campaign. Let feature?
them be the heroes or heroines and, at the same time,
save time and money with your creative process. If you are located in one of the allowed countries (United
States, Canada, Brazil, the United Kingdom, Germany,
User-generated content is beneficial not only in terms of France, Italy, Spain or Australia), you need to first create
saving resources. People will likely have more trust in their a business account.
peers and their reviews. When it comes to visual content
such as the one published on Instagram, they will trust • Then, you need to make sure you are selling
their peers’ choices in terms of product acquisition. In this physical goods that are compliant with Instagram’s
case, we are talking about your products. merchant agreement.

For example, the UPS Store have created a branded • You need to connect your Instagram business
hashtag called #theupsstorecustomer, which account with your Facebook catalogue. Therefore, if you
encourages customers to post their own content and don’t have a catalogue of products on Facebook, you
contribute to the company’s branding campaign. Why is will need to create one.

• Enable product tagging. In order to do this, go
to your profile, tap the ‘Get started’ alert, tap ‘Products,’
select a product catalogue to connect to your business
profile and hit ‘Done.’

• In order to tag products in your Instagram posts,
select your image, adjust it to your convenience (with
filters, etc.). Then tap on ‘Tag Products’ from your ‘Share’
screen. Tap the products you want to tag, enter their
names and tap ‘Done.’

As a B2B marketer, things can get a little challenging
when it comes to digital marketing but Instagram is a
great platform for showcasing products and you should
use it regardless of your overall strategy.

The writer is a visual marketer, blogger and content
strategist at Bannersnack, a professional banner creation
app for designers & marketers.

The Business Executive 53

s po rts

Africa: Making Sports
a Business and Brand

By Dr. Victor Oladokun

Fans are choosing not to watch live football events in the Before Egypt’s stunning 0-1 loss to South Africa in the Round
stadiums. Instead, they are opting in increasing numbers for of 16, the North African host country was the only team able
the ‘intimacy’ of their crystal clear digital flat TV screens. to attract 70,000 fans. Other than when Mo Salah and the
At the ongoing Africa Cup of Nations (AFCON 2019) in being Pharaohs have been on the field, most stadiums across Egypt
held Egypt, the visual imagery of almost empty stadiums is a have at best attracted an average of 5,000 to 7,000 fans.
powerful narrative. But not the kind that African sports, African Official broadcast camera crew have done a creative job
football, or corporate sponsors deserve. minimizing the visual gaps of empty seats. But wide camera
angles reveal the obvious: A lack of attendance and public
The empty seats syndrome suggests that football fans are enthusiasm in spite of the presence of some of the biggest
voting with their feet; or better still, with their backsides. Fans names in world football playing on the field.
are choosing not to watch live football events. Instead, they
are opting in increasing numbers for the ‘intimacy’ of their In European football leagues which many of the stars in Egypt
crystal clear digital flat TV screens. ply their trade, fans pay mega bucks to see the likes of John
Mikel Obi, Ahmed Musa, Sadio Mane, Ryahd Mahrez, Nicolas
Pépé, Wilfred, Zaha and Kalidou Koulibaly.

54 The Business Executive

s po rts

Which is why the empty seats in So, what can be done to reverse
Egypt are stunning. Admittedly, the trend? Here are five quick
Egypt bailed Confederation of suggestions.
African Football (CAF) out and
should receive well-deserved 1. It can no longer be business as usual: Africa must run sports
credit for coming to the rescue as a professional business. This includes the right infrastructure,
and hosting the AFCON, with training facilities and attractive pay scales for professional
barely six months’ notice, when the athletes who now consider anything less than a European
original host country, Cameroon, league appearance a professional failure.
was sanctioned due to shoddy
preparation.

Regrettably, as with Africa’s overall propensity to export

The low level of attendance in raw materials instead of adding value to what the people
Egypt speaks volumes about high produce, Africans are doing the same with football and
ticket costs; the timing of matches many other sports. Africa has a tremendous abundance of
bang in the middle of work days; potential talent that for the most part (with the exception of
the difficulties faced by national South Africa, Kenya and Ethiopia), we add little or no value
team supporters in obtaining entry to. Instead, millions of genetically blessed athletes are simply
visas to Egypt; and challenges waiting or begging to be ‘found’ on the cheap by European
with the CAF’s complicated online and American sports teams. Why? Simply because we fail to
ticket purchasing system. see diamonds in the rough and because we are unable to
add value to the potential of what for now seems to be rough

stones.

It should not be so. This, after all,

is the most important event in

Africa’s sports calendar. At least, 2. Modern and professionally Sport is a spectacle:
it used to be before England’s maintained facilities: In sizzling This includes everything:
Premier League, Spain’s La Liga, hot Africa, we must invest in Pre-event and half-time
Italy’s Serie A and Germany’s covered stadiums. When I can entertainment to keep
Bundesliga captured Africans’ sit in front of my big screen TV fans with short attention
collective imagination. in my air-conditioned living spans upbeat and

room, why would I want to engaged.

The end-result is that where once subject myself to temperatures

30,000 to 70,000 fans a week that have gone up a number
watched highly competitive of notches in recent years?

domestic football leagues across

Africa, the empty seats syndrome

has been the norm for almost 4. Give back to the fans: Essentially, engagement in the 21st
two decades. It is not unusual to have less than a century must change. It is time to give something back to fans
thousand fans in a stadium that seats 30,000. rather than fleecing them at every opportunity with sub-standard

services and products. It would seem to me that sports teams

The lack of fan attendance has obvious economic could offer something as simple as raffle draws that reward fans

and financial implications across the sports value with extra game tickets, signed player jerseys, visits with select
chain for team owners, football federations and players, or products from local sponsors. Professional marketing
confederations, players, sponsors, advertising and firms can come up with an endless list.

marketing agencies, merchandisers, vendors and

local communities who once counted on fan 5. Make sports big and let These are just a few ideas.
attendance to boost fledgling economies. it be a win-win proposition: Most importantly, the
Real Madrid F.C. and running of sports in general
What is responsible for the increasing slide in fan Barcelona F.C., for example, and, football in particular,
attendance? Parts of the answer are poor facilities are not owned by a few rich as a business and a brand
and high ticket costs. Lack of reliable transportation individuals. They are owned proposition requires honest
to and from venues as well as insufficient and secure and supported by thousands analysis, political and
parking. Increasingly crude behavior and violence of shareholders known as financial will, and a collective
at event locations. Technology - Mobile phones and ‘socios.’ Across Africa, it is approach. These must exist
Apps that carry events live as well as a plethora of time to change the numbers if Africa is to unlock its sports
entertainment alternatives. All these contribute to the game - in ownership, money potential and turn millions into
low patronage. In other words, the once big events and attendance - by giving billions.

are no longer the main gigs in town. fans a seat at the table.

The Business Executive 55 The writer is the Director of
Communication and External

Relations at the African
Development Bank, Abidjan, Cote

d’Ivoire.

The Business Executive

The Business Executive