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BMI View: Angola's retail market offers enormous growth potential. Economic diversification in the
country is supporting improvements to household income rates; and the middle class population is growing,
which will stimulate demand for a range of non-essential products. That being said, the retail market faces
the significant short-term challenge of a more subdued economic outlook, caused by falling oil prices
(Angola's key export) and the high rate of inflation. Widespread poverty is also an ongoing challenge, and
much of the retail market remains dominated by informal trading, particularly in the important food and
drinks subsector. We also note that extensive barriers to foreign investment remain a deterrent for major
regional and global retail groups.
Key Views and Developments
? Though the market is challenging, Angola is nonetheless attracting some foreign investment. South
Africa-based Shoprite reportedly plans to invest USD572mn in Angola, both in supermarkets and in
other retail sectors.