Luxury watches draw Africa’s spenders to SA

Business Day Live | Zeenat Moorad:


SA’s emergence as Africa’s luxury hub has seen the continent’s big spenders splash out on “super-luxury” watches.

Well-heeled politicians, oil and gas millionaires and other beneficiaries of the continent’s economic boom are giving rise to a “bling-fuelled” consumer culture with expensive taste.

Picture: Thinkstock

On Friday, research consultancy New World Wealth estimated that about R320m worth of sales from “super-luxury” watches were generated in SA last year, up from R230m in 2013…


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