The nation has witnessed an upsurge in retail malls in recent times but industry watchers say the development has its limitations, MAUREEN IHUA-MADUENYI writes
With a growing middle class, rising economic prosperity and changing demographics, retail malls are daily springing up in major cities across the country.
The retail and wholesale trade sector, according to economists, is a leading sector of the nation’s economy and the second largest contributor to the Gross Domestic Product at 17 per cent per annum.
But there are also concerns that with the estimated 200,000 square metres of retail mall space expected in the next two years, the economy may be exposed to low value addition as well as loss of jobs, especially among start-ups.
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