Africa: A 21st century view
The Deloitte Consumer Review
Africa is becoming a magnet for foreign investment, with vast opportunities for consumer businesses.
Tales of big opportunities off the back of Africa’s economic growth are not new; yet despite the compelling investment case, UK consumer businesses’ presence in the region is lagging.
At the same time, while growth is slowing in some of the main emerging markets, Africa’s economy is going through an impressive transformation - albeit fragile as the recent Ebola outbreak reminds us - with a rising middle class, increasing political stability and improved economic governance. As a result, many African economies are transitioning from resource exporters to consumption markets.
In this report, Deloitte assess how the market has developed, how perceptions of Africa have changed and how consumers are responding to a period of rapid economic growth. What it took to succeed in the past may not be what it takes to succeed in the future. We discuss the importance of developing a 21st century view of the African consumer market and make the case for consumer businesses to seize this opportunity.