By Dipo Olowookere
Change, they say, is constant and any brand that fails to adapt to the latest trends will be left behind and live to regrets not taking an action.
This may have triggered the decision of a leading Public Relations and Integrated Communications Consulting (IMC) firm, Chain Reactions Nigeria, to “transition from services to platforms,” according to its Managing Director/Chief Strategist, Mr Israel Jaiye Opayemi.
At an event to mark its 15th anniversary held at Radisson Blu Hotel, Ikeja GRA, Lagos, on Wednesday, March 30, the company rebranded and repositioned to become a digital-first platform and 24/7 solution house for governments and brands desirous of winning in Africa’s reputation economy.
It was disclosed that the repositioning involves a name change from Chain Reactions Nigeria to Chain Reactions Africa, setting a new vision and a mission, unifying its expertise and competencies and using them as a competitive advantage to help businesses and governments to understand the extant and emerging cultures and trends.
Mr Opayemi, while speaking at the event tagged Ara Unstripped, informed eminent players in corporate Nigeria and the public sector in attendance that, “It is a transition from services to platforms. Today, we are becoming a digital-first Public Relations and Integrated Communications Consultancy. This explains why we are officially becoming a 24/7 solution house for governments and brands who wish to win in the reputation economy of Africa.”
“Our new role is to help public and private sector clients develop communications strategies that feed on the plate of culture and trends. Cultures and trends have the power to transform human behaviour.
“If a public policy would fail, it may fail because of entrenched cultures and trends a government has failed to notice. Cultures and trends largely influence purchase decisions.
“We all often hear this statement, don’t buy it. It is no longer in vogue. That is a death sentence passed on a brand. It was because the brand owners never paid attention to the changing culture and trends in the market.
“Our solutions will now traverse problem identification, cultural solution, and experience design as a company. Be it voter behaviour, driving against traffic, or consumer behaviour, they are all driven by cultures and trends.”
At the event, Chain Reactions Africa unveiled its new logo, the innovative digital platforms called Ara and the Prophet, and the Goodnews Nigeria website described as “a digital news platform dedicated to reporting everything good and positive about Nigeria. It will become a one-stop-shop for leisure and business tourists seeking information about our great nation.”
While Ara, a chatbot, is CRA’s virtual assistant available 24/7, the Prophet is a tech-powered hub that helps businesses and brands understand issues, trends and cultural nuances in hindsight. It provides clarity on current trends with insight and offers foresight without human interaction.
Explaining the new brand logo featuring African drums, colours orange and ochre, intricate designs and the infinity symbol, Chain Reactions Africa’s Creative Director, Briton, Mr Colin Morris, said, “they represent the heartbeat of Nigeria and Africa.
“These colours mirror the optimism of every Nigerian. They also reflect the colours of the Sahara. The Sahara, of course, is not in Nigeria but Africa and is the reason the logo is not just Nigeria but Africa, the big picture. The intricate designs are also an African thing, not just Nigeria.”
“Chain Reactions is no longer just local; it will get bigger. The infinity symbol tells our story; it’s never-ending. It reflects the opportunities of a new blend of communications merging, beyond the traditional, beyond what we have always assumed.
“As a consultancy, the plan is for Chain Reactions to leave a footprint in every part of Africa. Africa is where we will win.
“Our redesigned logo shows that we are both Nigerian and African; we are progressive and resilient. We are drivers of change in our industry and new industries. Like the infinity symbol, we intend to keep evolving.”
The 15th anniversary featured the maiden Innovation and Tech Trends Summit (ITTS). PR & Comms Manager at OMNIBIZ, Elizabeth Adebanjo, Chief Business Officer, Cellulant, Sike Bamisebi, Group Chief Operating Officer, Palton Morgan, Nidal Turjman and film producer and actress Hauwa Alahhbura discussed Enablers for living and winning in a disrupted world at the session moderated by youth analyst, Femi Daniel.
Executive Assistant, New Media and Public Relations to the Lagos State Governor, Mr Segun Fafore; Head, Marketing Communications and Investor Relations, Wema Bank, Funmi Falola; integrated marketing communications professionals, Yomi Badejo-Okusanya; Mrs Nkechi Alli-Balogun; Chido Nwakanma; and Muyiwa Akintunde were among guests at the occasion.
Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products
The Securities and Exchange Board of India (SEBI) has reportedly proposed banning public figures, including celebrities and sportsmen, from advertising and endorsing crypto products. The regulator also proposed that public figures be held liable for any law violations when promoting crypto products.
The Securities and Exchange Board of India (SEBI), the country’s securities and commodity market regulator, has proposed prohibiting public figures, including celebrities and sportsmen, from endorsing crypto products, Businessline reported last week. In addition, the regulator proposed requiring advertisers to disclose possible law violations.
SEBI recently shared its view on the subject with India’s Parliamentary Standing Committee on Finance when it was questioned about various crypto issues, sources told the publication. The regulator subsequently submitted a detailed written response to the committee.
The Indian Ministry of Finance also asked SEBI to give its view on the crypto advertising guidelines published in February by the Advertising Standards Council of India (ASCI).
SEBI reportedly wrote:
Furthermore, the securities regulator proposed that public figures be held liable for endorsing crypto products, which could violate certain laws, including the Consumer Protection Act.
In addition, SEBI suggested adding the following statement to the ASCI disclaimer: “Dealings in crypto products may lead to prosecution for possible violation of Indian laws such as FEMA, BUDS Act, PMLA, etc.”
ASCI’s crypto guidelines, which went into effect on April 1, state: “Since this is a risky category, celebrities or prominent personalities who appear in such advertisements must take special care to ensure that they have done their due diligence about the statements and claims made in the advertisement, so as not to mislead consumers.”
Meanwhile, the Indian government is working on the country’s crypto policy. Finance ministry officials have met with the International Monetary Fund (IMF) and the World Bank to discuss crypto regulation. India’s finance minister recently said that the decision on crypto regulation will not be rushed. Crypto income is currently taxed at 30% in India.
What do you think about SEBI’s view on prohibiting public figures from endorsing crypto products? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Sanwo-Olu Promises Justice for Sound Engineer David Imoh
By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State has promised to ensure that the late Sound Engineer killed by a mob in the Lekki area of the state last week gets justice. The Governor gave this assurance through the Commissioner for Information and Strategy, Mr Gbenga Omotoso, in a statement issued on Monday night. […]