With the growing population in Africa demand for home and office furniture market in Africa is simultaneously increasing. When people move into a new home, they need wardrobes for their clothes, chairs, a dining table, sofas, kitchen cabinets and all kinds of furniture. Like households, offices also buy a lot of furniture too.
African is fast emerging as an important market for furniture on a global scale. Total furniture market imports into Africa amounted to more than US$ 5 billion in 2018. Ten main furniture importing African countries each of them importing over US$ 100 million of furniture.
Furniture Market In Africa
Africa’s rapidly growing urban population and their spending capacity, along with the growing economy are the primary reasons why furniture business is enjoying the best time of its life.
This is just a short glimpse of a rewarding business stream which is waiting to be explored. Several African countries have good potential for developing their furniture industry, both for internal consumption and for exports. The more promising prospects are in South Africa, Egypt, Morocco and Nigeria, but also Namibia, Tunisia, Kenya, Zimbabwe are possible candidates for a relevant expansion of their furniture production.The global economy is prophesized to grow by 2 to 3 percent between the years 2011- 2020. Africa is projected to grow approximately by 6%. The reason behind these projections is the rising middle class in the African cities. These people are the dwellers, who migrates from the rural areas and villages to the cities for employment prospects. This class includes salaried job holders, small and medium scale business owners.
The sales for the imported custom made furniture has been increasing since the last 3 years. In order to start up furniture business in Africa, one should know the needs and demands of the customers being targeted. Some buyers are more concerned about beauty, quality and durability of the furniture, and will pay high prices to get furniture that meets these requirements. Some other buyers are highly influenced by cost and their choices are restricted to the price of the furniture. They will love to have beautiful and high quality furniture only if it can fit into their budget. Some customers prefer imported furniture and some prefer the local one.
The key to succeed and make money is the ability to fulfill the needs and taste of buyers. Some of the countries like Nigeria, in order to develop the local furniture industry and to create the employment opportunities introduced a ban on the imported furniture. In countries like these, it is advisable to form joint- ventures with the local manufacturers. There are certain advantages which one could get in forming a collaboration with local manufacturers. It will provide you a platter of the information about the latest market trends, taste, opportunities and much more. Not much research and development would be required. Furthermore, setting up a business in a joint venture with local manufacturer would prove to be cost effective as compared to establishing one’s own enterprise.
