HIGH GROWTH SECTOR
Supermarkets key players in local African economies, says UN report
Supermarkets are potential partners in regional industrial development and should be considered in policymaking, says UN think-tank
Who would have thought that supermarkets would be big enough to have a significant effect on the local economies in which they operate? The UN University World Institute for Development says supermarkets are potential partners in regional industrial development and should be considered in policymaking. It says supermarkets in southern Africa have undergone significant growth in recent years. This has improved competitive pricing and access to a broader range of products and services. Damon Buss, equity analyst at Electus Fund Managers, said the sector would continue to experience high growth due to urbanisation and shifting shopping patterns. "Shoprite is the best placed of the South African food retailers, having about 34% of their food retail stores in the rest of Africa — ex-SA," he said. African economies have suffered setbacks as a result of a weakened global economy. However, South African grocery, clothing and general retailers already have a combined footprint of more than 1...
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