While purchasing power varies considerably between markets, the strongest opportunities are increasingly found where economic growth is combined with a large consumer population, rising disposable incomes and an expanding modern retail infrastructure. 1 in this retail-growth ranking, with its retail market forecast to grow by around 10.1% in 2026, according to 6Wresearch. The market is being supported by urbanisation, changing consumer preferences, expanding distribution networks and growing interest in modern retail formats. The African Development Bank forecasts continental GDP growth of 4.2% in 2026, while highlighting private consumption as an important driver of economic activity. Africa’s Top 10 Retail-Growth MarketsRank Country 2026 Growth Indicator Retail Opportunity 1 🇩🇿 Algeria 10.1% retail growth Modern retail, FMCG, e-commerce 2 🇪🇹 Ethiopia 9.2% GDP growth Huge population, emerging consumer market 3 🇨🇩 DR Congo 5.9% GDP growth Fast-growing urban consumer base 4 🇲🇦 Morocco 4.9% GDP growth Modern retail, tourism, FMCG 5 🇰🇪 Kenya 4.5% GDP growth Digital commerce and organised retail 6 🇪🇬 Egypt 4.2% GDP growth Massive consumer market and retail scale 7 🇳🇬 Nigeria 4.1% GDP growth Africa’s largest consumer population 8 🇬🇭 Ghana 4.0%+ growth potential FMCG and modern retail 9 🇿🇦 South Africa 1.1% GDP growth Africa’s most developed retail infrastructure 10 🇹🇿 Tanzania Strong growth outlook Population growth, urbanisation and FMCGGrowth figures are not directly comparable: Algeria’s figure is a retail-market growth forecast, while most other figures represent projected GDP growth.