Mar 24, 2017 Last Updated 10:30 AM, Mar 24, 2017

Gabon most attractive for international retailers

ABN – Gabon has been rated the most attractive country in sub-Saharan Africa for international retailers by an index compiled by US consultancy A.T. Kearney.

The African Retail Development Index ranked Gabon highest of all 48 countries in the region due to its strong economic growth and stable middle class.

A.T. Kearney consultants said this middle class was “still deciding on its favourite brands – in short, it is brimming with potential.”

Gabon also stood out for its 5.5% projected economic growth, compared with the average of 5.1% across all sub-Saharan countries.

The country’s largest detractor was its relatively small population of just 1.7 million people, which would deter retailers targeting larger populations for potentially higher sales volumes.

@ABNetworkOnline

Walmart to open stores in Nigeria

ABN – Walmart, the largest retailer in the world by revenue, is in advanced talks to open superstores in Lagos, Nigeria.

Shelley Broader, Walmart’s top executive for Africa, Europe, Canada and the Middle East, was discussing the opportunity with Lagos state governor Akinwunmi Ambode this week.

Ambode said he was excited at the prospect of Walmart opening stores in Lagos, primarily because it would create job opportunities for the city’s young people.

“We want to make sure that we attract as much investment in Lagos that can help us take our youths off the streets and give them employment,” he said.

Walmart is the world’s leading private employer, with stores in 28 countries and around 2.2 million employees.

It has been gradually moving into Africa since 2011, when it bought South African retailer Massmart – which has six outlets in Nigeria.

Walmart listed on the Johannesburg Stock Exchange earlier this year.

@ABNetworkOnline

Kenya's Westgate Mall reopens

ABN - The Westgate Mall in Kenya has reopened, almost two years after it was shut down by a devastating terror attack by members of terrorist group al-Shabab.

On 21 September 2013, four men launched a brutal attack on the mall that killed 67 people and injured hundreds more.

The mall now has new high-security measures installed, but that hasn't prevented many Kenyans taking to Twitter to vow never to return due to their memories of the attack.

The Kenyan government has been criticised for not offering enough information in the aftermath of the attack, and also for not investigating the looting that took place during the attack.

@ABNetworkOnline

 

 

 

 

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