12:03AM
Africa's flagships set sail?
Monday, June 7, 2010 at 12:03AM
WSJ story.
Foreign consumer goods companies from the West have competed in Africa for decades without any real competition from local players.
That changes as Africa's middle class grows.
Now, home-grown companies are expanding aggressively across the continent, eager to accommodate a growing middle-class among the billion-person population.
Highlighted is a Kenyan supermarket chain (Nakumatt Holdings), the continent's largest mobile provider (MTN Group) and South Africa's restaurant chain (Spur Corp), among others.
The supermarket chain modeled itself on Kmart, and the founder's personal hero is Sam Walton.
Ah, but globalization is unraveling--man!
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