oa South African Journal of Information Management - Using corporate Web sites in Africa to market to investors
Companies around the globe are increasing their use of the Internet to market themselves to both customers (ecommerce) and investors (investor relations). This study focused on the presentation of investor relations via corporate Web sites in Africa. The 40 largest companies in six African countries, namely Egypt, Kenya, Morocco, Nigeria, South Africa and Tunisia, were evaluated in this study. It was found that only 173 of the 240 companies that were evaluated had working corporate Web sites. Of these 173 companies, only 78 included a dedicated investor relations section on their corporate Web sites. This study suggests that these results are not satisfactory, given the relatively low cost of setting up a Web site compared to the perceived benefits of a corporate Web site and the size of the companies that were evaluated. Although results varied significantly between countries, it was shown statistically that there is a significant difference between the average size of companies that do not have Web sites and their investor relations, compared to the companies that do have Web sites and their investor relations. Working Web sites were also evaluated with regard to awareness. This revealed that 85% of the URLs of the 173 working Web sites was a logical extension of the company's name, 94% were promoted on Google and 87% on Yahoo.
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