The Dynamic Trifecta Driving Africa’s Retail Revolution

A recent Economist article highlighted the recent growth of local supermarket chains across the African continent. Today, a staggering 70% of Africans buy their consumer staples from local vendors. What is driving this specialized, locally-focused retail on the continent? Three primary trends have been working hard behind the scenes to power this quiet explosion.

High Mobile Penetration Driven by Favorable Demographic Trends

The African continent is home to the youngest and fastest growing population globally. It is a tapestry woven of diverse demographic, religious, and sociopolitical dynamics. Significantly, it is home to a growing consumer middle class. Analytics firm Fraym estimates that there are 330 million people in this category, and two-thirds were in just five countries: Egypt, Nigeria, South Africa, and Algeria.