PZ Cussons Reverses Africa Exit Strategy, Cites Strong Recovery and Growth in Nigeria

Consumer goods giant PZ Cussons has completely changed course on its Africa plans. Instead of pulling out, the company is now sticking around and doubling down on the continent, especially Nigeria, thanks to signs of a strong recovery and growth there.

Earlier this year, PZ Cussons had said it was reviewing its Africa business and weighing its options. But after a fresh look, the company announced on Thursday that it will keep its Africa operations. The decision is part of a bigger plan to balance its business between well-established markets like the UK and Australia/New Zealand, and faster-growing places like Indonesia and Nigeria.

One smart move in the reshuffle was selling off its 50% stake in PZ Wilmar Limited, the edible oils business in Nigeria, to its joint venture partner Wilmar International for $70 million. While there was good interest from buyers for its wider Africa portfolio, the company’s board believes the best way to create value for shareholders is by staying put and growing its presence in Africa.

A big reason PZ Cussons reverses Africa exit strategy is because of the continent’s huge potential. Africa’s population is predicted to grow by over 900 million in the next 25 years, which is more than half of the world’s total population increase. Nigeria alone is expected to add more than 100 million people, with more folks moving to cities and a growing middle class ready to buy goods. All that is leading to some positive economic signs and currency stability, which helped the company see double-digit revenue growth in the first half of this financial year.

PZ Cussons feels it’s well positioned to win here, relying on deep local knowledge and strong brand recognition that has stood the test of time. Its scale in manufacturing and solid route-to-market reach also give it an edge, especially as many big multinational companies have exited the market recently. Notably, about 80% of Nigeria’s revenue comes from brands that rank number one or two in their categories, which is a strong competitive spot to be in.

Now, the company is serious about building a portfolio of brands that resonate locally, riding on the good momentum developed in recent years. Its plan has three key parts: First, they want core growth by boosting business in Nigeria, Kenya, and Ghana through better brand building, increased distribution, sharper revenue management, improved store execution, and pushing digital channels. For example, they have doubled the number of stores they serve directly in Nigeria since fiscal 2022, which has fueled their growth.

Next comes category expansion. This means moving into related markets like men’s grooming and beauty using well-known brands like Venus, Imperial Leather, and Premier. Lastly, PZ Cussons is aiming for Pan-Africa growth, planning to broaden its reach into other African countries, building on its existing presence in Nigeria and Kenya.

In the 2025 financial year, PZ Cussons’ Africa business pulled in £141 million in revenue and £16 million in adjusted operating profit, making up 27% and 30% of the group’s totals, respectively. After selling off its edible oils stake, the Africa business now mainly covers Family Care and Electricals in Nigeria, along with Family Care in Ghana and Kenya. The group still owns a majority 73.3% stake in PZ Cussons Nigeria Plc.

With its headquarters in Manchester, UK, PZ Cussons clearly sees Africa, especially Nigeria, not as a market to exit but as one full of opportunities to grow. Their shift away from the Africa exit strategy shows confidence in the continent’s future and underlines how important this region is to their global portfolio.

Was this information useful? Drop a nice comment below. You can also check out other useful contents by following us on X/Twitter @siliconafritech, Instagram @Siliconafricatech, or Facebook @SiliconAfrica.