Boom in the African retail sector

The management consultancy company A. T. Kearney predicts a boom in the retail sector in Africa. According to the analysis, a wealthy middle class with strong purchasing power is emerging in the business centres and they are demanding more internationally well-known products. This represents an opportunity for the consumer goods manufacturers and retailers from Europe. Africa is one of the fastest growing regions of the world. According to the OECD, the gross domestic product will grow by 4.5 per cent on this continent in 2015.
A. T. Kearney calculates the African Retail Development Index (ARDI) on an annual basis and thus determines the degree of development of the retail trade in the sub-Saharan countries. This year the table is led by Gabon, which with a per capita gross domestic product of USD 21 000, adjusted for purchasing power, counts as one of the richest countries of the continent. Followed by Botswana, Angola, Nigeria and Tanzania. South Africa, the country with the most developed economy in Africa, is only sixth, due to the current economic downturn.