date:Aug 21, 2013
ew years, as the seemingly insatiable appetite of foreign investors continued to drive valuations bolstered by the hype about the rest of Africas growth prospects.
But local fund managers have expressed concern that the price-to-earnings ratios of retail companies have been unsustainably high, with retail counters not pricing in the risk of slowing spending. The slowdown in unsecured lending, which has lifted retail sales, is expected to be one of the major contributors to the slump in consume