Retail is a fast growing sector in the continent, experiencing exceedingly impressive growth rates, and contributing to the income distribution expanding Africa.
With every country there are differences in consumer-consumption environments; industry leaders must understand their target countries, in their growth rates, total population, urbanisation growth and their consumer power, in a highly fragmented sector.
When taking into consideration the consumer behaviour favourable to retail investing, Nigeria, Ethiopia, and the DRC have the most favourable consumption spending growth, however mainly stemming from their large population rates.
Urbanisation growth rate predictions by RMB Global Markets 2015/2016, place Burundi first, followed by Uganda, Niger, Burkina Faso, and Malawi.
Studies by auditing firms KPMG and Deloitte highlight countries known for strong retail markets in Africa, and their main characteristics to consider when investing in the retail market: