UK-based consumer goods manufacturer PZ Cussons has reversed its decision to exit Africa, opting instead to extend its footprint in Nigeria, Ghana and Kenya. The company which was founded by George Paterson and George Zochonis in Sierra Leone in 1884, with its headquarters in Manchester, England, is making this move in reflections of the stabilising economic conditions and the Africa continent’s compelling long-term prospects.
The u-turn marks a significant change for a company that had previously struggled with currency volatility, import pressures and complex business environments in Africa. Now, PZ Cussons says those challenges are increasingly offset by macroeconomic improvements and demographic momentum, particularly in Nigeria, its largest African market. Nigeria’s steadier footing has reshaped her corporate confidence.
At the center of the renewed decision is the prospective reel of Nigerian economy, where recent fiscal and monetary reforms are gradually restoring business confidence, even though it is stifling households. To a company that is producing fast-selling consumers ‘goods for everyday essentials such as soaps, detergents, baby products, etc., a stabilising economy signals an opportunity to regain lost ground.
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