Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.
Anheuser-Busch InBev will invest 1 billion rand ($69 million) to support South African farmers as part of concessions agreed with the government to secure regulatory approval for its $100 billion-plus takeover of SABMiller.
Like most emerging and frontier markets around the world, Africa’s largest economies have been affected by the drop in commodity prices over the past 18 months.
Nigeria hopes the first phase of a light railway aimed at easing traffic jams in the commercial hub Lagos will be ready within 13 months, and is inviting bidders for an expansion, Lagos State Governor Akinwunmi Ambode said on Thursday.
Choppies Enterprises Ltd., the Botswanan supermarket chain that listed in South Africa in May, plans to open about 30 stores in the year through June and may also expand via acquisitions as the retailer seeks to increase market share in the region.
Buyout firm Actis has bought a significant minority stake in South African furniture retailer Coricraft, it said on Tuesday, marking the latest deal by the private equity investor to tap Africa’s fast-growing consumer industries.
Get ready for the Nigerian supermarket wars. Within weeks of each other, two major retailers have announced their intention to battle it out in Africa’s largest consumer-goods market.
When Choppies opened its first store in Lobatse, a small town in Botswana, its ambition was limited to becoming a retailer of substance in its domestic market.
Walmart, the world’s largest retailer by revenue, is in advanced talks to open big box stores in Lagos, Nigeria’s economic hub.
Nakumatt and other local retailers have long served Kenya’s market but now international store chains and private equity investors are also coveting the strong growth prospects in east Africa’s leading economy.
Nigeria’s retail and wholesale trade industry has the potential to grow by 7.1% per year, and by 2030 could be the largest contributor to the country’s GDP, according to recent report by McKinsey Global Institute.
Across sub-Saharan Africa, consumer demand is fueling the continent’s economies in new ways, driving hopes that Africa will emerge as a success story in the coming years comparable to the rise of the East Asian Tigers in the second half of the 20th century.