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The fast-growing African consumer market

Being one of the fastest-growing consumer markets in the world, Africa is set to have 1.7 billion consumers by the end of the decade. The household consumption in Africa has been on the rise and has surpassed the rate of Africa’s gross domestic product (GDP) growth. Africa’s GDP growth has shown to be faster than the global average and this can be due to the African middle class. The African middle class has set expectations to be a large source of global consumer spending growth in the future. Due to increasing population size, urbanisation, and more access to the internet,…

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