Broadcasting
African Communications Industry is in Need of an Overhaul. Here’s How it Can be Done
By Steve Babaeko
In the last decade, advertising has taken several unprecedented turns. The disruptions caused by digitalisation, technology, and unnatural incidents on the practice as we knew it, have been immense. Also, a drastic change in consumer habits over the years has been no less impactful on how advertising is practised globally.
We continue to witness how a constant shift in digital innovations prompts the biggest advertising companies around the world to scramble to adapt and adopt new strategies to reach consumers. The recent metaverse rave, for instance, currently presents advertisers with a chance to market to consumers as they interact and socialise in virtual spaces.
We also can’t ignore how the Covid-19 pandemic has added to the dynamics of our practice. Digital streaming reigned supreme as consumers stayed at home and became committed to watching more videos and other forms of media consumption, necessitating swift actions to meet them where they are most comfortable.
It should be clear by now that advertising has become more complex than ever before, as it is a common prediction that we are yet to see the last of these types of disruptions – digital or otherwise. These indicators are why it is a special time in the history of advertising to forge and introduce strategic adaptations that will keep us a step ahead and mitigate the impact of possible disruptions in the future.
An outstanding factor we must consider in developing workable strategies to confront peculiar challenges presented by these sweeping changes in our industry is how the consumer market continues to expand, especially in Africa.
Africa, with a potential market of 1.7 billion people, is one of the fastest-growing consumer markets in the world. Consumer expenditure on the continent has grown at a compound annual rate of 3.9 per cent since 2010 and reached $1.4 trillion in 2015. This figure, to echo McKinsey & Company, is projected to reach $2.1 trillion by 2025 and $2.5 trillion by 2030. The World Bank also projects that by 2030, the largest consumer markets in the world will include Nigeria, Egypt, and South Africa, while similar lucrative opportunities will arise in Algeria, Angola, Ethiopia, Ghana, Kenya, Morocco, Sudan, Tunisia, Tanzania, and other African countries.
Of this market size, the youth population in Africa makes a significant number. Young people account for 60% of the continent’s population according to UNESCO. By 2030, there are expected to be 350 million young people aged 15-24 on the continent.
Due to their nature, developing strategies to cater to this demographic is becoming a more challenging task with each passing year. Compared to a decade ago, the younger generation, with access to the latest technology tools and information at lightning speed, react and consume differently. Young consumers’ demand and affiliation for brands that show concern for their struggles mean that it has become even more pertinent to understand them, know their interests and wants, and continuously develop strategies that align with their needs.
As such, serving a community of consumers in a multi-channel world requires the adoption of smart digital tools, the adaptation of informed social insights and verifiable data, and a deeper understanding of psychology.
These rapidly changing market dynamics are why how we do advertising must evolve. Companies like Apple, Dunkin’, Tupperware, and Domino’s that have hitherto foreseen the necessity for the evolution of advertising have done so by either making new tweaks or by way of a total rebrand.
It is important to note, however, that in adopting new advertising tactics to meet consumer demands, companies must get it right.
The world will remember how, in its bid to revamp its service for consumers in 2013, Yahoo! came under public scrutiny and heavy criticism for failing miserably in its attempted rebrand with a shoddy switch up of its logo. The rebrand fail ultimately resulted in the company’s loss of hundreds of millions of dollars a year in advertising revenue.
For X3M Ideas, our understanding of the advertising industry’s current reality in relation to the young consumer base in Africa ignites our desire to proffer solutions that will satisfy brand and client demands as we move on to our next chapter.
After 10 years of being a one-stop-shop marketing communications company that’s 100% built on ideas and leveraging partnerships that, backed by sound strategy and unique thinking, seek to deliver the most effective results, we are adopting a new proposition named ‘Finding X’.
Our adoption of this unprecedented actionable framework aims to provide unique solutions to the constantly changing consumer demands and habits in the advertising landscape. By design, our new Finding X framework, categorised into an adaptable A, B, and C formula, will unearth transformative products and services necessary for providing existing and future clients with a competitive edge and also advance global advertising practice.
With Finding X, our goal of redefining the way advertising is practised and perceived in Nigeria and Africa remains. Only that this time, we will rev up our strategy of studying and understanding the consumer. We will further expand our reach through digital and interactive media, and measure the impact of every campaign for further improvement.
Strategically, the significance of the Finding X framework is what inspires a rebrand of our logo and website, with the X in the X3M emblem now more pronounced than ever.
So, what is our X? What unique brand values do we intend to communicate? And what is our modus operandi for the next decade? The answers lie therein.
The X in X3M represents many things. The unknown – the X-files; the hidden treasure – X marks; the spot and; the magic ingredient – the X factor. We can use it in all these ways. And Finding X is tantamount to finding gold; the gold of consumer engagement. The discovery tool will allow us to find the X for our existing and future clients in the representation of their brands, products or services and by such, give them an edge over their competitors. It is a logical step, backed by research and knowledge of human behaviour, to arrive at idea spaces unique to each brand.
This framework will also prove a distinctive blueprint for advertisers in and outside Africa to maximise the continent’s consumer market potential over the next decade.
In 2020, the COVID-19 pandemic caused the African ad market to contract by nearly a quarter according to market research data. Africa was also the smallest regional ad market worldwide within the period with a $5 billion investment after advertising spending on the continent shrunk by over 23 per cent from $6.52 billion a year earlier. Projections indicate positive but low growth rates on the continent in upcoming years, with the decline unlikely to change soon.
Understanding the fastly changing market dynamics in relation to consumer engagement and satisfaction and designing strategies tailored to meet their needs will offer a sustainable pathway to turn the tides in no distant time.
X3M Ideas’ Finding X framework and rebrand are borne out of the burning desire to provide brands, clients and advertisers with these necessary creative solutions. And our commitment to further innovations and collaborations to impact the world, while staying true to the values that set us apart, is solidly unshaken as we turn the book to our next chapter.
Gold remains one of the most powerful commodities in the global financial architecture. It is widely recognized that, for traders in Nigeria, specifically, currency pressures, inflation expectations, and shifts in global liquidity make up the macro environment more often than not; hence, understanding the correlation of gold with key Forex assets is more of an economic insight than a trading tactic.
The correlation between gold and currencies, equities, bonds, and even energy markets provides a broader framework for interpreting global risk sentiment. A growing number of Nigerian investors use this correlation to hedge against inflation, read capital-flow trends, and adjust trading strategies across major currency pairs.
Why Gold Matters in Today’s Macro Environment
This can be explained by looking at the larger picture and how global factors either positively or negatively impact the price of gold: spiraling inflation, geopolitical tension, tightening by central banks, and the flight-to-safety dynamic that heightens in moments of market stress. African traders, especially those active with international brokers such as JustMarkets, are very sensitive to how gold performs not only as a commodity but also as a macro indicator.
Indeed, the strongest correlations of gold are more often found with the US dollar, major bond markets, equity indices, and energy instruments in periods of high geopolitical risk. Each one of these offers a different angle for Nigerian traders to approach macroeconomic changes.
Gold and US Dollar: The Most Watched Correlation
The inverse correlation between XAU and the USD remains one of the bedrock relationships in global finance. It usually weighs on gold because a stronger dollar raises the opportunity cost of holding the metal. Conversely, the opposite has occurred when the market has priced in rate cuts, rising inflation, or policy uncertainty.
This relationship provides Forex traders in Nigeria with a macro perspective:
USD strength; pressure on gold; bullish signals for USD-pairs like USD/JPY or USD/CHF
USD weakness; appreciation of gold; potential strengthening of the non-USD majors
This dynamic is often emphasized by platforms such as JustMarkets in their markets analytics, allowing traders to match the technical setup with real policy shifts from the Federal Reserve.
Gold and Bond Yields: A Window into Global Risk Appetite
Gold is highly sensitive to real interest rates. When US real yields fell, it sent gold higher because investors saw it as a hedge against inflation and thus a haven. Yet higher yields tend to dampen demand for precious metals.
To traders, this correlation is a reason for short-run volatility around announcements like:
US CPI
FOMC decisions
Results of Treasury auctions
In countries like Nigeria, when domestic inflation is high and Naira pressure amplifies sensitivity to global risk, the movement of gold often proves an early indicator of how capital might rotate between safe havens and risk assets worldwide.
Gold and Equity Markets: The Fear Gauge
While geopolitical tensions or recession fears tend to deflate equity markets, they strengthen gold. This negative relationship is considered helpful for traders looking to deduce spikes in volatility and risk-off flows. Examples include:
Sharp US30 or NAS100 declines coupled with XAU/USD rallies
Broad-based sell-offs driven by political uncertainty or commodity shocks
This dynamic helps explain to the Nigerian analysts focused on policy and political economy how global risk events transmit to the local market through capital-flow sentiment.
Gold and Energy: Transmission via the Inflation Channels
Although gold and oil are not directly correlated, both respond to inflation expectations. Surging oil prices can fuel inflation forecasts that support the price of gold.
This channel is particularly important in the case of Nigeria, a major oil exporter. When crude markets temporarily tighten due to supply disruptions or OPEC policy decisions, gold becomes a complement to hedge against global inflation risk.
Trading with the Use of Gold Correlations
A structured approach allows traders to put gold’s relationships into practice:
Start with the macro driver.
Identify whether inflation, geopolitics, or monetary policy is the primary force shaping markets.Translate the macro event into correlation expectations.
Example: falling bond yields lead to a weaker USD, which in turn supports gold and could lead to upside in EUR/USD.Use correlation clusters instead of isolated signals.
Gold + USD + bonds provide a more reliable picture than gold alone.Apply risk management aligned with volatility cycles.
Gold’s volatility often spills over into major currency pairs.
Market platforms like JustMarkets emphasize these cross-asset links to help traders simplify complex macro interactions into actionable insights.
Why Nigerian Traders Pay Close Attention
The Nigerian economy is highly integrated into global commodity flows; inflation cycles, dollar liquidity, and geopolitical developments tend to reach the local market faster than the pace at which policy adjustments can be made.
Gold serves as a barometer of global risk, a hedge against currency depreciation, and a signal of moves in the key USD pairs that headline Nigeria’s trading activity.
In a region increasingly active in the Forex market, understanding the relationships involving gold is not just about trading but also a strategic tool for analyzing global economic behavior
Mr. Tim Akano, New Horizons Chief Executive Officer, took centre stage at the Nigerian Information Technology Reporters’ Association (NITRA) annual end-of-year meeting on Thursday, December 18, 2025, recounting the company’s remarkable growth and reaffirming free IT training for journalists.
Tim Akano, New Horizons Chief Executive Officer, in a group photograph with NITRA Members
Speaking directly to IT media members at the company’s training facility in Lagos, Akano acknowledged the critical role journalists played in supporting New Horizons during its formative years two decades ago.
He detailed how the firm evolved from a handful of staff to one of Africa’s leading ICT skills training organisations, now employing about 500 staff across multiple training centres nationwide.
Akano Spotlights Youth Training, University Partnerships
Akano highlighted that New Horizons has trained over 500,000 youths, particularly tertiary institution students, equipping them with practical IT skills essential for Nigeria’s digital economy.
He announced recent partnerships with universities, including a new agreement with Afe Babalola University, to scale hands-on training programmes for students.
“This growth would not have been possible without the media’s support in documenting our journey,” Akano stated, pledging continued free IT skills training for media members to remain competitive in the evolving digital landscape.
Reciprocal Support Defines Long-Standing Partnership
The venue hosting the NITRA meeting underscored Akano’s generosity; NITRA Secretary Chidiebere Nwankwo secured the free facility after contacting him—a gesture consistent with New Horizons hosting multiple association events and training IT journalists since its inception 20 years ago.
Participants shared personal testimonies of Akano’s support, including veteran journalist Aaron Ukodie, whose daughter—an Accounting graduate from the University of Johannesburg—received NYSC placement and IT scholarship at New Horizons.
The Guardian’s Yemi Adeyemi recounted Akano accommodating his editor’s child for mandatory IT training after other firms declined.
Members praised Akano’s commitment to human capital development as evidence of deep appreciation for the media community that chronicled New Horizons’ success over two decades.
National Identity Management Commission (NIMC) has launched the NIMC Pre-Enrolment Portal to revolutionise the National Identification Number (NIN) enrolment process, enabling applicants within Nigeria and in the Diaspora to capture biodata online prior to biometric verification at enrolment centres.
NIMC
Accessible via penrol.nimc.gov.ng, the platform allows users to fill enrolment forms, schedule appointments, upload supporting documents securely, and manage personal details directly, thereby slashing congestion, minimising wait times, boosting data accuracy and enhancing overall service efficiency at centres nationwide.
NIMC Director-General and CEO, Engr. (Dr) Abisoye Coker-Odusote, spearheaded the initiative as part of the Commission’s technology-driven strategy to fortify institutional performance, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda that emphasises digital transformation, efficient public service delivery and inclusive national development.
Dr Kayode Adegoke, Head of Corporate Communications, highlighted key benefits including simplified biodata handling, confidential data protection through robust security measures, reduced physical centre visits and heightened operational effectiveness, urging all prospective enrollees to adopt the portal for a faster, citizen-friendly experience.[conversation_history]
The move underscores NIMC’s mandate under the NIMC Act No. 23 of 2007 to manage the National Identity Database, issue NINs and foster a reliable digital identity ecosystem vital for national planning, with users advised to complete pre-enrolment online before heading to selected centres for biometrics.
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