A.T. Kearney, the global management consulting firm, has ranked Africa’s top 10 countries according to retail investment opportunities. The published data titled 2014 African Retail Development Index, ranks countries on a scale of 100 to 1 with 100 representing Greatest opportunity (and 1 being “don’t waste your money”).
The index revealed Rwanda and Nigeria as the two most promising countries for investors looking to invest or expand their business in the African retail market – Rwanda scored 70, Nigeria scored 64. Namibia ranked third (60).
According to A. T. Kearney, the Index identifies not only the most attractive markets today, but also those that offer the most potential in the future.
Nigeria’s high ranking should not really be a surprise. Nigeria is the most populous country on the continent, has a reportedly growing middle class and is currently experiencing rapid evolution in its technological environment – mobile phone proliferation, internet boom and adoption of ecommerce systems among other things. Rwanda’s success on the other hand is partly due to the country’s numerous business reforms and focus on investment.