Shifting Market Frontiers: Africa Rising explores developments in Africa, a diverse frontier market and the opportunities for investment across industries and differing consumer income levels.
Africa is world's second most populous continent. Its growing young population is expected to command nearly 20% of the world’s population by 2025. Equally, rapid urbanisation and fast-growing consumer expenditure provides long-term opportunities.
Africa’s 55 independents states are home to a diverse population of different income groups, religions, races, customs and languages. This diversity requires a more granular and regional approach for a successful and sustained market entry.
Despite signs of growing GDP and consumer expenditure, the challenges of the continent, such as lack of infrastructure, paucity of skills and political instability, require a flexible and long-term approach.
Local companies are seasoned experts with a wealth of knowledge, which give these companies an advantage against global competitors. Lessons can be learnt from their approach to business, or partnerships should be considered.
Africans are increasingly connected, with high mobile penetration - reaching one billion in 2017. This offers opportunities in various consumer industries, which include finance, apparel, food and drink, and beauty and personal care.
Modern retail outlets are increasing at a rapid place. However, a large proportion of retailing still takes place in traditional stores, open-air markets, street kiosks, and even at the side of the road. Understanding how these markets operate and why consumers choose these channels is important.
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