Why malls in Kenya are not doing that well

The Garden City mall in Nairobi. FILE PHOTO | NMG

Over the past few years, the hype of emerging African middle class has made headlines across the world. The Harvard Business Review makes the point that consumer spending power in Africa has risen from $470 billion in 2000 to over $1.1 trillion in 2016.

In Kenya we have seen investors angling for a piece of that pie evidenced by the rise of the mall economy.

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Note: The results are not exact but very close to the actual.