Top 10 Most Innovative Companies in Africa:
Safaricom, Kenya
Industry: Telecommunications
East Africa’s largest mobile telecommunications provider easily ranks
as the most innovative company in sub-Saharan Africa. Reason: M-Pesa,
Africa’s first SMS-based money transfer service. In 2007, Safaricom
launched M-Pesa (M for mobile and
Pesa- a Swahili word for
money) which lets users deposit, transfer and withdraw funds via text
message. A subscriber who wants to send money across simply visits a
registered M-Pesa agent with the money and the phone number of the
recipient. For a fee of a little over $1, the agent sets up a virtual
account for the subscriber, credits the account with the money, and then
sends the amount to the recipient’s account. A subscriber can send
money even to a recipient on a different mobile network, who can cash it
at any M-Pesa agent simply by presenting an ID and entering a secret
code. Safaricom also pioneered a service which offers subscribers
airtime on credit, introduced the payment of utility bills through the
M-Pesa platform and also runs a robust customer loyalty award programe.
Nando’s, South Africa
Industry: Food & Beverages
Since opening its first restaurant in 1987, Nandos has expanded to
over a thousand locations in 30 countries on five continents. Its
success secrets may well lie in its marketing: Nando’s’ numerous
provocative yet witty commercials, such as an ad featuring a
dimwitted busty blonde and another which
depicted Zimbabwean President Robert Mugabe reflecting on happy moments he enjoyed with fallen dictators such as Colonel Gaddafi and Saddam Hussein have made Nando’s’ flagship flame-grilled
Peri-Peri
chicken a hit among Africa’s young and hip. Nando’s meals are premised
on traditional Mozambiquan-Portuguese dietary patterns and spices such
as the ‘Pili Pili’. The company also manufactures a range of sauces
which are sold in Nando’s restaurants and in supermarkets.
In 2010,
Advertising Age magazine named Nando’s as one of
the world’s top 30 hottest marketing brands. Nando’s also promises to
allow anyone to eat free for life if they can prove they have been to
all the Nando’s restaurants.
Nation Media Group, Kenya
Industry: Media & Entertainment
East Africa’s largest media group is subtly transforming itself into
an internet and financial services powerhouse. Between 2009 and now, the
Nation Media group has launched
N-Soko, a classifieds site which competes with Craigslist in Kenya
, Twende Twende- Kenya’s first online travel site and
Nation Hela, an international money transfer service which allows Kenyans in the Diaspora remit money to their families at home online.
The group’s flagship publication,
Daily Nation is the highest-circulating newspaper in the East and Central African region. Daily circulation: 210,000. Its
Business Daily
newspaper is East Africa’s most popular business journal and its
Television and radio stations consistently rank among the most popular
among African viewers and listeners.
MTN, South Africa
Industry: Telecommunications
In 2011, Africa’s largest mobile telecoms operator introduced its MobileMoney Insurance solution
, Mi-Life insurance
which provides money in the event of death of the subscriber or the
next of kin. The Premium payment for insurance is deducted from the
subscriber’s MTN
Mobile
Money wallet once per month. The service is available to the network’s
subscribers in Ghana. MTN also wins innovation points for its
MTN InternetOnTV, a device that allows users to browse the web from their TV at 3G speeds and
MTN Traveller, a mobile App that allows mobile users to browse for, and book accommodation and car rental services using their phones.
Econet, Zimbabwe
Industry: Telecommunications
Zimbabwe’s dominant mobile telecommunications company boasts
lucrative operations in Zimbabwe, Botswana, Lesotho, Burundi and Rwanda
and even owns a 3G license in New Zealand. Now, Econet is looking to
build Africa’s largest solar power company. Last November Econet
launched the Econet Power Station- a revolutionary solar power device
which will allow individuals and families across Africa to light up
their homes, charge their mobile phones and generally utilize energy at a
relatively inexpensive cost compared to current solar energy devices
currently available in Africa. Also, Econet Wireless in South Africa
recently introduced
Carry Me Home- a death and repatriation insurance policy exclusively for Econet Call Home customers.
Iroko TV, Nigeria
Industry: Media & Entertainment
Iroko TV did not invent Nollywood- Nigeria’s immensely popular movie
industry, but the Nigerian-based company helped revolutionize and
glamorize it. Iroko TV, which has been dubbed the ‘
Netflix
of Africa’, is the world’s largest digital distributor of African
movies. Leveraging on an on-demand TV platform, Nollywood Lovers around
the world can watch the latest Nigerian movies by paying a fee of only
$5 a month. IrokoTV typically buys the digital rights to the movies from
Producers and currently has a catalogue of over 5,000 films and over
500,000 registered users.
Woolworths, South Africa
Industry: Retail
One of South Africa’s largest retailers, Woolworths sells everything
from food and clothing to homeware and electronics. The retail giant is
also an emerging player in South Africa’s financial services scene.
Through a joint venture with Absa Bank, Woolworths offers financial
services such as loans, debit cards and home insurance solutions to its
customers. Woolworths also manufactures its own brand of everything from
sliced bread to grape juices and ice cream.
Industry: Retail
South Africa’s pre-eminent fast moving consumer goods retailer has a
portfolio of 450 stores in South Africa, Zambia, Mauritius and
Mozambique and a staff strength of 45,000 people.
Pick n Pay was among the earliest retail outlets in sub-Saharan
Africa to include financial services in its service offerings. Among
other things, select Pick n Pay outlets offer credit facilities on large
purchases (like appliances), free of deposit. Pick n Pay also has a
thriving
ticket resale service, a
travel comparison site and lets customers play the
lottery online.
Also, in 2010, the South African retail giant became the first to offer
customers wine bottled in the eco-friendly PET (Polyethylene
Terephthalate).
East African Breweries, Kenya
Industry: Food & Beverages
East African Breweries is Kenya’s largest brewer. The Company
produces, markets, distributes and sells an extensive portfolio of
alcoholic beverages including its flagship beer brand,
Tusker Beer and spirits such as
Baileys, Smirnoff and
Black Label. The Company also produces and distributes soft drinks such as
Alvaro and
Malta Guinness in Kenya, Uganda and Tanzania.
Famous Brands, South Africa
