Yet another FT on Africa.
From the explosion of mobile telephony to bulging profits of beer companies, evidence of expanding consumer markets in Africa abounds.
Nice.
Hear the African middle-class consumer speak: “When we want cheap, we go for China.” Estimates are that 90% of appliances in the major local retail shops are from China, because their prices are about 75% cheaper than the foreign competion and 50% cheaper than the local producers’ stuff.