Real Estate Investor Magazine South Africa April 2016 | Page 14

COVER STORY

Is
Africa
Rising?
A vast Continent of
Challenges & Opportunities

BY DREW HOOK

A

frican economies easily rank among the most
resilient in the world. In the middle of the
2009 global economic recession, Africa
was the only region apart from Asia with a positive
growth (around 2%). African retailers and consumer
businesses were facing long-term growth prospects
despite the decline in global economic growth, which
resulted in sharp rising prices.
According to accounting firm PricewaterhouseCoopers, the economic growth predicted for 2016
and beyond in some African countries and the growth
expected in Africa’s consumer market provided major opportunities for retail and consumer companies
looking into the future.
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APRIL 2016 SA Real Estate Investor

Anton Hugo, leader of retail and consumer industry
at PwC Africa, said Africa had risen to prominence as
an investment destination over the past several years,
and so the role of retail and consumer goods had taken
on greater significance. “Sub-Saharan Africa remains
one of the fastest growing regions in the world and
the successful expansion of a number of global and
African retailers and consumer goods companies
across the region speaks to the opportunities that
exist,” Hugo said.
Africa is becoming an increasingly attractive hub
for foreign investors in light of various economic,
political and social reforms that are sweeping through
the continent, resulting in a much improved business
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