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Famous Brands, the owner of brands such as Debonairs and Steers, has ambitious expansion plans for oil-rich African countries such as Nigeria, Ghana and Angola. The Economist Intelligence Unit predicts that by 2030, Africa’s top 18 cities could have a combined spending power of $1.3-trillion.
Standard Bank-owned asset manager Stanlib has set up operations in Ghana through the acquisition of the Stanbic Investment Management Services division. It is also pursuing an asset management acquisition in Nigeria, which it hopes to close in the first half of 2015.
The return of Pizza Hut has a lot of potential to grow says analysts. It has just opened a store in honeydew and is planning on expanding to Boksburg, Midrand and Soweto. Many analysts say that by increasing the competition pizza companies won’t do as well anymore however they are all positive about growth says one analyst so they still will see returns.
Zimbabwe’s efforts to revive the economy using proceeds from the tourism industry has failed as tourist arrivals stagnated in the first half of the year, with arrivals only increasing by 1 percent compared with the prior year. This growth was supported by the increase in arrivals from Europe, Germany and the UK.
Western Union launched Nigeria’s first outbound remittance payment service, which is expected to boost business growth in the country.
Exports of South African produced vehicles into Africa is declining due to import levies by some countries on the continent.
Delta International Property Holdings, the first JSE listed property fund offering investors direct access to high growth markets in Africa, is targeting properties in Ghana and Nigeria, with an acquisition pipeline of $200m having been identified.
Negotiators for southern African states had agreed a new trade pact with the EU that would give the countries a bigger market for food exports, South Africa’s Trade and Industry Department said on Friday.
French beverage giant Castel, which bottled its first batch of Ethiopian wine this year, is helping change the way outsiders view the country.
Not so long ago, for luxury goods retailers the African market boiled down to a tiny elite, in some cases just a corrupt ruling clique. Not anymore. Although millions of Africans remain stuck in crushing poverty, disposable incomes are on the up. Luxury firms like LVMH, which makes Moet and Hennessy luxury drinks as well as Louis Vuitton handbags, are targeting the burgeoning ranks of what South African retailers call “black diamonds “, or affluent African professionals.