Africa: a 21st century view
The Deloitte Consumer Review
Africa is becoming a magnet for foreign investment, with vast opportunities for consumer businesses. While growth is slowing in some of its main emerging markets, Africa’s economy is going through an impressive transformation, 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, we 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.