HUSTLE MAG MARCH 2020 FINAL

cade, and how has APO Group evolved
along with it?
What I think what has changed the
most is perception.
Ten years ago, I was in the European
headquarters of PR Newswire, in London.
At the time, they were considered the
leading global press release distribution
service and there I was explaining to
several of their senior executives how
Africa will soon represent a huge market
for press releases – and why it was time
for them to invest in the continent. It
was 2008, remember, and they basically
laughed at me.
Ten years later, APO Group is receiving
purchase offers, strategic partnership
offers and M&A transaction offers from
some of the leading players in the industry.
They are seeing unprecedented demand
from their clients for press release
distribution in Africa – and they simply
don’t know how to serve them. And this is
just the beginning. According to the World
Bank, the African population will double
by 2050, reaching 2.4 billion. The latest
United Nations population report, published
in 2017, says that by 2100 Africa
will be home to 40% of all humanity!
A recent McKinsey study said “Africa is
poised for economic acceleration akin to
the Asian boom”. There are around 440
US companies and 480 German companies
who have been operating in South
Africa for several years now. Today, most
of them are planning their expansion
across the continent to get their chunk of
this huge untapped market.
This will obviously translate into more
media relations spending, especially if you
consider a growing trend where communicators
are re-evaluating their mix of
advertising versus PR.
African consumers are becoming
savvier. They are starting to value news
and information above blatant advertising
– and that creates opportunities for the
media relations business.
In your experience, what are the
biggest problems that news agencies
are facing today?
It’s partly to do with this idea of African
evolution: More savvy Africans means a
better educated, more demanding audience.
Their expectations are higher, so
they require more diverse, better quality
content.
Talent will always mean the difference
between success and failure – so the
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HUSTLE EAST AFRICA
greatest challenge facing African media
houses is making sure their journalists
are meeting the expectations of their
audience.
How do you see the future of news
agencies, particularly regarding technology
and its changing role in the
news industry?
Clearly, continuous digital transformation
is key. Media houses must keep
evolving if they are to survive.
The days where they could rely on
advertising as a sole revenue stream are
long gone. Consumers are not browsing
for advertisements – they are browsing
for content – so that’s where the focus of
these outlets needs to be. The challenge is
to find new ways to monetize content and
invent new models.
One area we’ve been focusing on at
APO Group is media monitoring.
Right now, in Africa, it’s very poor.
That is partly because a lot of African
media are offline, and print, TV and
radio monitoring across 54 countries is
impossible to do cheaply and painlessly.
As the digitalisation of media continues
and technology improves, monitoring becomes
a critical part of the content value
proposition. It produces metrics, data and
insights that, in turn, encourage spending.
In the last few years, big international
media players have started to come to
Africa. CNBC, Euronews, Forbes, CNN and
BBC have all increased their presence on
the continent. If the international media
can see the potential, the African media
needs to make sure it keeps up.
What are your greatest accomplishments
at APO Group? Could you share
a ballpark figure of APO Group’s annual
revenues?
A lot of the work we are doing – around
70% in fact – is providing strategic advisory
services for leading multinational
companies, therefore many of our biggest
accomplishments are covered by non-disclosure
agreements. Our project managers
are in constant contact with some of
the most influential media in the world,
from CNN to CNBC, BBC to Al Jazeera, The
Financial Times to The Wall Street Journal.
We are organising interviews and media
events in the US, in London, in Oman –
but also in very complex African markets
such as Eritrea and Somaliland. That’s
something we are extremely proud of.
But I would say my greatest accomplishment
is to have turned my 10,000
euros of savings – which I invested to create
APO in 2007 – into a multimillion-euro
business without the aid of any loans or
investors. That means that, 11 years later,
I’m still the 100% owner of my company.
Why did you decide to step down
from APO, and what’s next for you and
the company?
Being able to create a company does
not necessarily mean that you are the
right person to develop it and allow it to
reach its full potential.
I built a race car. I did it on my own and
I’m very proud that the car can reach 300
km per hour. But just because I built it
doesn’t mean I’m the best driver to take it
to 300 km per hour. That requires another
set of skills.
Often, by sticking to the helm, the
founder of a company can become the
main obstacle to its development.
I’m not that person.
APO Group has huge potential. As we’ve
seen, the situation in Africa is such that,
in many ways, we are the right company
at the right time with the right services on
the right market. Our performance in the
last three years is proof of that – and if
you factor in the projected growth of the
continent as a whole, the figures will back
you up.
I always knew that someday I would
have to hand the reins to a “professional
CEO” so he or she could make sure the
company realises its potential.
The new CEO I have appointed, Lionel
Reina, has a fantastic track record in
helping companies scale up quickly and
break new ground. Lionel is the former
Vice President and General Manager for
Eastern Europe, the Middle East and Africa
at Orange Business Services, the B2B
division of French telecoms giant Orange.
He has also served as Middle East Director
in the Gulf region for Accenture.
Any advice for budding, young African
entrepreneurs?
It would be a very long list! And it would
really depend on which stage of the
company’s development you are in. But
if there are two things common to most
self-made entrepreneurs, it’s hard work
and resilience. If it was easy, everybody
would have already done it. If it was easy,
it wouldn’t have any value. You need be
ready to work 12 hours a day – and don’t
make any plans for the weekend, because
you’ll be working then too.
As for everything else I’ve learned? That
would take an entire book to cover…