Gabon has been deemed the most attractive market in Sub-Saharan Africa in The 2015 African Retail Development Index. The study evaluated 48 countries in the region.
This year’s index was published on Tuesday and focused on the economic growth in Sub-Saharan Africa hailing the region’s progress.
“Sub-Saharan Africa is still the Next Big Thing, and likely will continue to be for the next several decades. It is one of few markets with annual GDP growth of more than 5 percent. Its young and connected middle class is growing fast and still deciding on its favorite brands. In short, it is brimming with potential,” the index reported.
While South Africa is still seen as a good investment market, due to the country’s high state of development, “it is no longer the only way to go,” the report says. The focus has shifted to more dynamic areas of Africa, exploring new opportunities, however as the chairman of the South African grocery chain Pick n Pay says, the country still remains “an important purchasing base if you want to trade on the continent.”