Africa’s important marketing conversations unpacked in latest mag

It’s hard to ignore the allure of this new technology segment attracting significant – some might say startling – investment in time and money. But what is its relevance to African marketers and how can they identify the opportunities – and pitfalls – associated with it?

Hussein Hashish, founder of Blockchain Hub Egypt and Chief Metaverse Officer at Athens DAO, a community of experienced crypto-investors, points out that the upgrade from screens, two-dimensional 2D video chats and tabs on a website – to an internet you can jump into or have come out to you – is happening in fits and starts. 

“The Metaverse is still plagued by unsteady and choppy service – it’s in its ‘PlayStation 1’ phase from a user interface and hardware perspective,” he says.

Early investors can reap long-term benefits

However, this hasn’t deterred Mic Mann, the founder of the platform Ubuntuland, which claims to be Africa’s first Metaverse marketplace. He believes that early forays into the Metaverse allow investors to explore the tools available and to try out new business models before others arrive in full force a few years from now.

“As with any new industry, if you get your hands dirty, you get ahead,” he says. “The first brands to enter the Metaverse will be leaders and they can leverage the marketing benefits of discovering new frontiers.”

Hashish emphasises that Africa lags due to poor infrastructure and low awareness, but a handful of countries – like Nigeria, Kenya and South Africa – are getting ahead. 

“Education is the biggest barrier to unlocking opportunities, and smart regulation will be needed because governments can’t approach this renaissance with guidelines that apply where physical borders exist.” 

Hussein, who lives in Egypt, says his country still criminalises cryptocurrencies and the Metaverse is not yet on policymakers’ radar. 

You will find this story, and much more, in Issue 3 2022. Strategic Marketing for Africa is the voice of African marketing and the official publication of the African Marketing Confederation (AMC). It is available quarterly in Digital and Print editions.