World
Nielsen Reveals Stabilising Prospects in Africa
Africa’s markets are never quite what they seem as revealed by the latest Nielsen Africa Prospect Indicator (APi) which shows that amidst relentless change, country prospects are stabilising on the continent. This is evidenced by the fact that only two markets changed position on the latest APi ranking update, with Kenya remaining in top position, followed by Cote d’Ivoire.
According to the latest results Nielsen Executive Director Intelligence Global Markets Ailsa Wingfield comments; “Looking at the broader macro prospects, it is clear that Sub-Saharan Africa’s momentum will take longer than expected to flourish, with the initial 3.3% SSA GDP forecast for 2019, downgraded to 2.8%. With this slower growth comes subdued advances in consumer prosperity and demand, and business growth will need to be boosted in non-commodity dependent countries, which provide nuggets of opportunity.”
COUNTRY PERFORMANCE – Strength in Stability
When drilling down to individual country performance, it becomes clear that top performer Kenya, is characterised by strong economic and consumer prospects, however, its business and retail prospects have deteriorated and GDP growth rates are lower with the economy losing steam in Quarter 1, 2019.
Second ranked Cote d’Ivoire’s greatest challenge is its consumer potential which weakened further in the latest quarter. Only 17% of Ivorian retailers feel that consumer spend is increasing and just 15% think that consumers are increasingly willing to try new products.
Tanzania remains steady in third place on the APi ranking with improved retail prospects although these are countered by a weaker business outlook due to restrictive investment regulations and policies.
Ghana in fourth position is forecast by the International Monetary Fund (IMF) as having one of the fastest growing economies in the world. Companies share this positive outlook, rating Ghana as Africa’s second best business prospect, with improved growth expectations. Ghanaian consumer prospects have also increased significantly, with 36% of retailers of the opinion that consumer spend is increasing, compared to only 11% a year ago.
Nigeria retains fifth place which represents its best level in the last three years, and its economic recovery is set to gain further momentum in 2019, with business prospects improving in parallel.
BUSINESS PROSPECTS – Moderate Expectations
Looking at how businesses rate country growth prospects, the SSA average is moderate for the year ahead, and has remained unchanged for four consecutive quarters. Ethiopia leads the country growth expectation list followed by Ghana, Kenya, Uganda, Cote d’Ivoire and Nigeria, all ahead of the SSA average. While only six markets are regarded as having a ‘good’ growth outlook, businesses back their own growth options more highly. Own business growth expectations exceed country growth expectations in two thirds (12) of Africa’s markets.
Nigeria and South Africa show the biggest discrepancy between country and own growth outlook, where own growth expectations are markedly stronger. Companies maintain a strong conviction that these two core markets remain crucial to success and that growth is achievable despite adverse macro factors.
CONSUMER PROSPECTS – Fragmented Potential
Africa’s consumers are marked by disparate spending intentions and purchasing pressure points. For example, Ivoirians pay 33% more than Nigerians for a common basket of goods and only 15% of Ivoirians are more willing to try products, compared to 44% of Nigerians, despite a GDP per capita of 1.6 times higher than Nigerians. Ivoirians’ purchase decisions are however not primarily based on price. They are firmly entrenched in familiarity and trust, with 84% of consumers saying they choose products with this in mind. For this reason, brand propositions must establish awareness and confidence to gain users and grow spend, not merely provide cheaper alternatives.
In Nigeria, despite higher inflation and lower incomes, consumers are adventurous when it comes to experimenting with new products which provides a window of opportunity to reach and resonate with consumers based on their more positive spending intentions.
This shows that cash constrained consumers don’t only need better price points or are risk averse, but also want value and quality assurances from those they have confidence in. Brand, marketing and retail initiatives will therefore demand very different strategies in different countries.
RETAIL PROSPECTS – Pockets of Opportunity
Overall, the retailer growth outlook is the most favourable it has been in three years, with Tanzania, Cote d’Ivoire, South Africa and Uganda ahead of the average. That said, the ease of doing business remains challenging. Manufacturers therefore need to work with retailers to bolster sales through optimal stock supply, relevant product portfolios, favourable pricing points and beneficial trading terms.
Smaller players are providing formidable competition on this front in the prolific informal channels. As a result, the top 10 manufacturers account for approximately 55% of sales in Kenya, Nigeria, Ghana and Cameroon but are growing at less than 5% per annum, while smaller manufacturers are growing ahead of 15%.
Wingfield adds; “With temperate growth, business expectations are centred on core countries for success, but now more than ever, strategies need to be flexible, adaptable and focused on consumers.”
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn