Wal-Mart Stores News

Akinwunmi Ambode, Governor of Lagos State, Nigeria

Lagos governor says first light rail project to be completed by December 2016

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.

Andre de Ruyter, CEO of Nampak Ltd. Photographer: Waldo Swiegers/Bloomberg

Nampak Plans Glass Factories in Africa's Most Populous Nations

Nampak Ltd., Africa’s biggest maker of beverage cans, has agreed with partners to build glass-bottle manufacturing plants to take advantage of growing demand for packaged consumer goods and bottled drinks in the two countries where a quarter of Africans live — Nigeria and Ethiopia.

Burger King to expand to six new African countries before the end of 2015

Burger King to expand to six new African countries before the end of 2015

Burger King Worldwide Inc. plans to enter new African countries before the end of the year as it follows Yum! Brands Inc.’s KFC chain in tapping demand from the continent’s middle class.

Workers assemble shirts in a garment factory in Hong Kong, China.

Asia garment industry faces Africa as emerging competitor

It was a turbulent year 2014 for Asia’s textile industry: Soaring labour wages in China, violent workers’ protests in Cambodia and collapsing factories in Bangladesh were just some of the bad news that made it into headlines.

A customer browses men's shoes in the footwear department inside a Truworths fashion store in Sandton, South Africa

Investing in Africa: How investors are tapping into a new middle class

These days, oil, cocoa and precious metals aren’t the only things that are attracting foreign investors to Africa.

Hugo Boss Store

Chain reactions: savvy supply is key to success in the African luxury market

Luxury retailers are eyeing the African continent as one of the next frontier markets. “Luxury in Africa is a hot topic,” says Oliver Merkel, a partner at Bain & Company, a management consultancy.

Itumeleng Mothibeli manages the mall and 13 other shopping centers that have sprung up to serve a black South African middle class that spends more money than the white middle class

Africans Open Fuller Wallets to the Future

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.