All over Africa, in its clogged cities and fast-changing towns and villages, buildings are painted in Tecno blue and billboards offer the allure of the Tecno brand. From the Grand Marché in Mali’s capital, Bamako, to the business hub of Nairobi in Kenya, where entire 20-storey towers are slathered in the Tecno logo, aspirational Africans are being bombarded.
What is Tecno, you may ask, if you are not a frequent traveller to the continent? Tecno is an Africa-specific brand created by Transsion, a Shenzhen-based handset manufacturer. Last week, the company, founded in 2006, listed on the Star Market, Shanghai’s Nasdaq wannabe, closing up more than 60 per cent on its first day for a market capitalisation of around $6.5bn.
The story holds lessons about Africa and its increasingly dynamic interaction with the world. Transsion, which last year sold more than 100m handsets, has proved you can make money in Africa if you work out what people want and what they can afford.