Nigerians clearly love the luxe things of life.
The Wall Street Journal, yesterday Tuesday, released a review profiling what Africans especially in Nigeria, Kenya, and Ghana spend their disposable income on.
And what’s the first thing they buy? Find out below.
Although the demands vary in these countries, one thing is for sure, Nigerians, Ghanaians and Kenyans go for quality brands.
A chief investment officer at Voltan Capital Management, New York, Alison Graham says “People think if you sell something in Africa it has to be cheap. A lot of it kind of ends up being junk, and there’s no such thing as a refund policy in Africa.”
On the table listed above, it can been seen that in all three countries clothing, footwear and accessories, is priority for citizens.
Kenya leads the pack with 56%, Ghana follows with 50%, and Nigeria comes in third with 43%.
When it comes to health care, Nigeria has 0% while Kenya has a whopping 41% and Ghana -12%.
Apart from fashion, luxury cars, mobile electronics, and beauty top the list.