Consumer spending forms a critical part of an economy’s growth. Imagine an economy with over 1 billion consumers, with more than a quarter of that middle-class. Africa is a continent that boasts such statistics. However, its negative legacy and problems have left many organisations shying away from making the investments necessary to reap the benefits. In this article, we look at the rise of consumerism in Africa and the challenges organisation’s face when looking at the diverse African population.
It features comments from Muhtar Kent (The Coca-Cola Company), Peter Brabeck-Letmathe & Paul Bulcke (Nestlé), Richard Laing (CDC Group), Loïc Sadoulet (INSEAD) and Katherine Tweedie (World Economic Forum).
The related article, Africa - A new frontier for business?, can also be found on the Criticaleye website.
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Richard Laing