05/12/2022
OPINION by Enock Wandera
WHAT NEXT FOR BRANDS AS GLOBAL ECONOMY SLOWS DOWN?
The rising prices of essential commodities such as food and fuel have caused widespread hardship, famine, and unrest. For the case of sub-Saharan Africa, the situation has been further worsened by drought ravaging several parts of the region especially in the Horn of Africa as climate change take its toll.
Brands have found themselves in tight situations in the midst of this global stalling of growth, which is hard to predict its end. It is therefore important to learn from history and understand how your company or brand can be affected by the unprecedented moment to help ensure it doesn’t become a casualty.
The International Monetary Fund (IMF) Global Economic Outlook 2022 report revealed a slow-down in the global economy in the second quarter of this year, owing to downturns in China and Russia, and reduced consumer spending powers in the United States (US). Global downturns also referred to as recess...