Mall of Africa opens as economic outlook sours

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May 2016
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Thousands of shoppers queued on April 28 at the opening of one of the largest malls in South Africa, set in middle-class suburbia between Johannesburg and Pretoria. The 116'000 square metre shopping centre is larger than Cape Town's V&A Waterfront and a rival to Sandton City in size.


The Mall of Africa will house over 300 shops, including global brands such as Zara, H&M, Cotton On and Starbucks. They want to attract the rising number of young consumers in Africa's most developed economy which has thrived on demand for commodities.


Shiny malls have sprung up throughout South Africa, creating thousands of jobs. But they come amid a backdrop of rising debt level. And this opening comes as the outlook for the economy worsens, rising interest rates and prices putting a squeeze on spending while demand for exports such as gold and other metals is depressed.