Jennifer Ehidiamen writing in Ventures Africa:
Africans are often regarded as big consumers and small producers, even though the continent is rich with natural and human resources. Our capacity to consume in Africa far outweighs our local production level. We can boast of little or no industrialisation.
Instead, we import commodities that we have the capacity of producing locally and outsource challenges to expatriates rather than finding local talents to tackle them. From food to household appliances, to mobile phones, to the clothes we wear- the more we consume, the more we import. Shopping malls/retail stores are standing proudly in city centres in major countries in Africa. Displaying imported goods of all forms. Middle-income earners swipe their debit cards proudly, purchasing items regardless of whether they are at a discount or full price. Thus, the retail boom is gripping the continent and there is no doubt that intelligent investors are acting fast on the opportunity.More here
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