New York -- Rwanda, Nigeria, Namibia, Tanzania and Gabon occupied the top five places of the first-ever A.T. Kearney African Retail Development Index (ARDI), a new study designed to help large, organized retailers determine where and how to best enter Sub-Saharan Africa's rapidly growing retail market. The ARDI not only identifies the markets in Africa most attractive for retail expansion today, but those that offer the most potential in the future.
"The top 10 countries in the Index are diverse in terms of scale and growth potential,” said Mirko Warschun, A.T. Kearney partner and ARDI co-author. “Retailers must understand where African countries are in the evolution of the retail landscape and the stages of market development to craft their expansion strategies for Africa."
By 2020, nearly half of all Africans will be living in cities. As disposable incomes rise, consumer spending will grow to almost $1 trillion. Even with the challenges of entering and succeeding in Africa, the opportunity is impossible to ignore.
"Although there are many challenges, Africa has reached a point in its economic development where global retailers must evaluate the significant potential for growth in this market," noted A.T. Kearney partner and ARDI co-author Mike Moriarty.
Click here to read the full 2014 African Retail Development Index.