The success of South Africa both economically and politically has put a question mark on the faces of people who always doubted this once troubled country. While the troubles still remain to some extent, South Africa has emerged as the richest country in Africa. Kenya, another African country, has attracted the interest of world’s leading retailers. Moderate economic growth in the country has fuelled the expansion of the middle class. And this segment of the society possesses significant discretionary purchasing power in Kenya.
The investment climate in Africa is attractive due to the following factors:
- Sophistication of markets and institutions
- Perceived long-term political risks
- Long term economic outlook ratings
- Current Business Management
According to sources, Kenya is attracting more and more Western retailers. And in the next five years, the country will witness investment of millions of dollars into the retail market. The growing middle-class and rising consumer demand in Kenya has garnered interested from some of Africa’s biggest retailers, who have ambitious expansion plans. A report by one of the leading Research Firms believes that markets such as Kenya and Ghana are all set to witness rapid retail development in the coming years. As these regions could soon provide opportunities for possible mergers, global retailers are increasingly taking interest in investing here.
Consumers in Africa are all set to experience e-commerce revolution with emerging malls. Following the footsteps of Zalando, many e-commerce retail chains are foraying into the African markets. It is important to know what Zalando has. Zalando is a multinational e-commerce company that sells shoes, clothing and lifestyle products online.
West Hills Mall, Ghana
The West Hills Mall is located on the newly completed Winneba Highway, west of Accra, around 12.5 miles from Accra Mall. Scheduled for opening in 2014, the West Hills Mall boasts of a huge entertainment and recreational arcade. It has a reserved area for open-air concerts and theatrical shows. It has a seating capacity for 1,500 people. With many ultra modern cinemas, the West Hills Mall offers unmatched entertainment. An interesting thing about West Hills Mall is that before its construction, its architects had to undertake extensive studies into technical expedience and local shopping habits. Perhaps that is why the exterior area of the Mall has a special bay dedicated to taxis and buses. Some other features of the Mal include a functional health centre and a unique traffic interchange and pedestrian underpass for smooth flow of traffic and pedestrian safety
The Nyali Mall, Mombasa, Kenya
The name of this mall has been changed to “City Mall”. This mall will be the first ultra-modern shopping mall and leisure centre in Mombassa. Adjoining the Nakumatt Nyali complex, the City Mall will have over 100,000 square feet of ‘new lettable area’. The ultra-modern shopping environment and facilities offered by the City Mall will transform the face of Mombasa’s shopping domain.
Here are some other features of the City Mall:
- Seven floors: 2 lower basement parking floors, 4 shopping and leisure floors
- Elevators and escalators on all floors
- 200 parking spaces in the two lower basement floors
- 200 additional parking spaces in the ground floor
Check them out for yourself and let us know how you feel about the rise of shopping malls in Africa. Do you enjoy the new Mall culture? We would love to hear your thoughts.
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