Business Africa’s Middle Class Wants to Shop - IOL

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Abidjan - A surge in disposable income and the growth in Africa's middle classes has led to an upswing in the number of shopping centres across the continent, a report said Friday.

With shoppers searching for new ways to spend their money, and investors keen to help them to do it, some 14 new shopping centres opened their doors between 2012 and 2013, according to research by Sagaci, a market intelligence organisation.

Excluding South Africa, there were 242 shopping centres in the continent last year, the report said.

“The middle class is developing. And the people in it want to spend their money,” Julien Garcier, a partner at Sagaci, told AFP.

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Source: IOL.co.za
Image credit: UN.org
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