Sub-Saharan Africa’s economic renaissance is fuelling an investment drive by fast food joints looking to tap the continent’s growing middle class.
The likes of Kentucky Fried Chicken (KFC) and Domino’s pizza are opening up in African growth markets from Nigeria to Angola to give consumers a taste of U.S. cuisine.
Elias Schulze, managing partner of The Africa Group, a boutique Africa-focused investment consultancy, said U.S. takeout stores are rapidly becoming “aspirational brands” for cosmopolitan Africans with disposable income.
He said: “An upwardly mobile, confident, Western-leaning and young consumer class bodes well for an American burger boom.”
And the battle for the African market is well underway.
This year, Yum! Brands — owner of Kentacky Fried Chicken, Taco Bell and Pizza Hut — is expanding into Tanzania, Zimbabwe and Uganda.
Source: CNN
