Western retailers look to Africa

Africa is starting to appear on the radar screens of western retailers as they look for the next growth opportunity in emerging markets while having to cope with subdued consumer spending at home.

Five African countries namely: Algeria, Kenya, Morocco, Nigeria and South Africa are most likely to attract multinational store groups in the next few years.

Africa was thrust into the retail limelight this year when U.S. retail giant Wal-Mart bought a majority stake in South Africa’s Massmart, giving it a foothold in the continent’s biggest economy and a presence in some 13 other African markets, ranging from Botswana to Zambia.

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