Africa : Africa, the new El Dorado for luxury cars

Clyde C Coger Jr

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Africa, the new El Dorado for luxury cars

The African Development Bank put the size of the African middle class at 300 million in 2011.
Ventures financial magazine recently put the number of African billionaires at 55 -- more than triple the previous count. That figure is likely an underestimate, the Nigerian magazine said, as many are not comfortable disclosing the true extent of their wealth.




Abidjan (AFP) - Porsches, Range Rovers and even Maseratis... luxury cars are no strange sight weaving through the old bangers that rumble along Abidjan's chaotic streets, another indication of the emergence of a wealthy class in Africa.

Each of the vehicles costs at least tens of thousands of euros, representing decades of work for an Ivorian earning the minimum wage, even after it was recently hiked 60 percent to 60,000 CFA francs (around 90 euros, $125) a month.
http://news.yahoo.com/africa-el-dorado-luxury-cars-152052192.html

A picture taken on December 19, 2013 shows a Range Rover 4x4 on a street in the Ivorian capital Abid …

Abidjan is the economic center and former official capital of Ivory Coast. As of 2011 it was the largest cityin the nation and the third-largest French-speaking city in the world, after Paris and Kinshasa. As of 2006, there were 5,068,858 residents in the metropolitan area and 3,796,677 residents in the municipality. OnlyLagos, the former capital of Nigeria, has a larger number of inhabitants in the West African region. Considered a cultural hub of West Africa, Abidjan is characterized by a high level of industrialization and urbanization. The city stands in Ébrié Lagoon on several converging peninsulas and islands connected by bridges.


http://en.wikipedia.org/wiki/Abidjan
 

Asomfwaa

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It's a car company that's Black Owned in Africa, far as I heard.
 

Clyde C Coger Jr

going above and beyond
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Nov 17, 2006
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In the Spirit of Sankofa,



... The land is truly changing hands ...




Africa Is the New Market for Luxury Goods

A sizable and ever expanding number of Africans can now afford luxury goods due largely to increasing disposable income and wealth generated from Africa's enormous natural resources, including oil, gas and precious minerals, say regional analysts and business owners engaging in more and more trade on the continent.
Disposable income, coupled with infrastructure that's rapidly improving and decreasing trade barriers, has by many accounts helped make Africa the next great market for luxury products.
Some analysts say U.S. luxury manufacturers would be foolish to ignore the emerging opportunities on the continent.


http://www.mainstreet.com/article/lifestyle/luxury/africa-new-market-luxury-goods?puc=yahoo&cm_ven=YAHOO
 

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