Knight Frank Shop Africa 2016.

Knight Frank Shop Africa 2016.

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Summary

The population of Africa is not only growing, but it is increasingly urban; while a little over 40% of the population currently lives in cities, urban dwellers are projected to be the majority by 2040. The newly developed malls of SubSaharan Africa are absorbing demand from a variety of retailers seeking to expand their footprint in the region. South African retailers such as Shoprite, Pick n Pay, Game and Woolworths are particularly prominent, anchoring many of the most modern malls. Over the long term, shopping centre development will go hand in hand with Africa’s increased urbanisation and its economic growth. It will play a major role in shaping the future landscapes of Sub-Saharan African cities.Other international retailers are known to be considering entering Kenya but the difficulty of sourcing appropriate local partners is regularly cited as a major obstacle to market entry.

Source: Knight Frank

Published: 2016

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