DESPITE the decline in growth, Africa’s long-term outlook as a consumer market remains positive, says an inaugural report on retail and consumer businesses by professional services network PwC.Gross domestic product (GDP) growth, population growth and urbanisation are among the factors representing a "compelling case" for retail and consumer companies to continue to expand and look for opportunities in Sub-Saharan Africa.The report, released on Tuesday, analysed 10 African economies offering appealing opportunities for retail and consumer businesses looking to expand in Angola, Cameroon, Ethiopia, Ghana, Cote d’Ivoire, Kenya, Nigeria, South Africa, Tanzania and Zambia.Encouraging economic growth rates are predicted for 2016 and beyond in a number of countries in Africa. A growing middle class is on the rise and with it, internet usage, private health care, formal retail and car and property ownership.Africa is home to more than 1-billion people which is expected to increase to more ...
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