Retail sector in Angola set to grow by 8% as middle class expands rapidly

• Foreign retailers look to take advantage of market growth
• Shift from informal markets to modern retail network
• One of the few 'middle-income' countries in sub-Saharan Africa

According to Eaglestone's latest research on Angola's retail sector, the country's favourable demographics, economic growth prospects and political stability will lead to rapid growth in the retail sector, as new and existing retailers invest in the sector's potential.

Eaglestone explains that until recently, the retail sector in Angola has lagged behind other areas of the economy, held back by a small middle class. A high percentage of shopping was done at informal marketplaces and street vendors - which are often characterised by tax evasion and poor health standards.

• Informal retail sector still accounts for up to 80% of market so significant scope for growth
• New and current retailers looking to enter the market
• Challenges still remain