Consumer spending by a fast-growing middle class is as important a growth driver for Africa as mineral and resource demand, according to a new survey of global logistics executives.
In the survey, which is part of the 2016 Agility Emerging Markets Logistics Index, industry executives rank South Africa, Nigeria, Kenya and Ghana as the most promising markets in Sub-Saharan Africa. Poor infrastructure, lack of power generation and corruption continue to pose the most risk to African economies, according to the more than 1,100 executives responding to the survey.
Despite recent growth and surging foreign investment, Sub-Saharan Africa remains a challenging frontier for many. Only 21.2% of logistics industry executives surveyed said their companies have operations there. Another 12.7% said they are in the planning stages to enter African markets. More than 43% said they have no plans to set up in Africa. Read more. Source | Agility