Knight Frank – The Africa Industrial Market Dashboard, H1 2024

The industrial sector in 29 African markets followed by Knight Frank saw significant growth in the first half of 2024. Factors such as increased demand for warehouses and improving infrastructure contributed to this growth. Occupancy rates for modern warehouses in key markets like Johannesburg, Nairobi, and Lagos have increased, with rising prime warehouse rents. E-commerce expansion, manufacturing growth, and regional trade agreements like the AfCFTA are key drivers of the increased demand for industrial space. Notable investments such as Amazon's fulfilment center in Johannesburg and Dangote Industries' cement plant in Ethiopia are examples of the sector's expansion. The implementation of the AfCFTA is also enhancing intra-African trade and increasing the need for industrial logistics and warehousing solutions across the continent.