Sub-Saharan Africa has uplifted itself from the two decade economic low reached in 2016, bringing a slight easing of pressure but not a return to the robust growth rates previously experienced. In the 5th edition of Nielsen Africa Prospects ranking, we look at how the countries have performed across various parameters.
Retail players have long believed that large-format stores will eventually take over the landscape, but today’s reality disproves the “bigger is always better” myth. Although large stores still account for 51% of global sales, smaller channels are growing sales up to eight times as fast their larger counterparts.
Ongoing turmoil and volatility in many of Africa's markets are reflected in the ranking indicators of Nielsen's third Africa Prospects report, with six of the nine countries shifting in position over the past six months.
Many marketers view South Africa’s Traditional Trade sector as a massive missed opportunity. Their desire to tap into this market is justified given that traditional trade accounts for R46 billion or 33% of all consumer goods package sales in South Africa.
Nielsen’s African Prospects Indicator provides existing and potential investors in Africa with comprehensive insights across an extensive range of indicators, culminating in an unambiguous ranking of Sub-Saharan African countries.
Africa is on companies’ growth agenda for obvious reasons. Six of the 10 fastest-growing economies in the world are in Africa, it has the world’s greatest proportion of young people, and it has a burgeoning urban population with growing demand for many goods not yet widely available, as well as the means to buy them.