Ghana as our fastest-growing food markets, with growth rates of --.- and --.- respectively, conforming to our Q--- Food and Drink Risk Reward Index rankings, in which the countries are placed first and second. Staple food categories will be the leading growth drivers across the region, with bread, rice and cereals accounting for the highest proportion of spending, amounting to about --.- of total food sales in ----. ...Ghana as our fastest-growing food markets, with growth rates of --.- and --.- respectively, conforming to our Q--- Food and Drink Risk Reward Index rankings, in which the countries are placed first and second. Staple food categories will be the leading growth drivers across the region, with bread, rice and cereals accounting for the highest proportion of spending, amounting to about --.- of total food sales in ----. Fresh vegetables will grow to become the second biggest contributor to food sales owing to large demand for vegetable-based diets. ...Our growth outlook for this food segment will be supported by growing household incomes and the development of formal food retailing.
...Our outlook for food spending growth in SSA will rapidly accelerate in the second half of our five-year forecast period, in line with our real GDP growth forecasts. Food sales will recover only gradually over the first two years from the --.- fall in ----; we forecast sales will contract by -.- in ---- and increase by -.- over ---- (in US dollar terms). ...Kenya will also boast a favourable consumer base of --mn by ----. Moreover, Kenya is located in the East Africa region, which we have previously highlighted holds the best opportunities in SSA for consumer- related growth; Kenya is set to be an outperformer in the sub-region. Kenya will also boast a favourable consumer base of --mn by ----. ...Moreover, Kenya is located in the East Africa region, which we have previously highlighted holds the best opportunities in SSA for consumer- related growth; Kenya is set to be an outperformer in the sub-region.
...< ALACRA META ABSTRACT>BMI View: Sub-Saharan Africa s short-term consumer growth outlook will be hampered by currency volatility and rising food prices, which we expect to impact negatively on food spending throughout ----. On the upside, lagging consumer trends in the region will create favourable growth prospects for multinational companies seeking new growth markets amid saturating developed consumer markets. ...
