Manchester-based consumer giant PZ Cussons has ended months of speculation by confirming it will keep its African operations. The company’s Board announced on Thursday that remaining in the region offers the “greatest value for shareholders.”
This decision follows a grueling strategic review initiated in April 2024. It marks a significant vote of confidence in the continent’s economic future.
While several other multinationals have recently fled the Nigerian market due to volatility, PZ Cussons is digging in. The company cites stabilizing economic indicators and massive demographic potential as the drivers for this long-term bet.
Strategic Divestment: The $70 Million Sale
To sharpen its focus, the group has streamlined its portfolio.
As part of the review, PZ Cussons announced the sale of its 50 percent stake in PZ Wilmar Limited. Joint venture partner Wilmar International Limited purchased the edible oils business for $70 million.
Consequently, the group will now concentrate exclusively on its core strengths: Family Care and Electricals. The Africa division will continue to operate through hubs in Ghana, Kenya, and Nigeria, where the group holds a 73.3% controlling stake in PZ Cussons Nigeria Plc.
Why PZ Cussons Retains Africa Business
The decision to stay rests on two critical pillars: improving economics and explosive population growth.
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Demographic Boom: The company projects Africa’s population will swell by over 900 million in the next 25 years. This represents more than half of the world’s total population growth.
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Nigeria’s Rise: Nigeria alone is set to add 100 million people, driven by rapid urbanization and a growing middle class.
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Economic Stabilization: Executives noted that recent currency trends in Nigeria are “more favourable.” This stability helped fuel double-digit revenue growth in the first half of the financial year.
A New Three-Pillar Strategy
Moving forward, the company is not just staying; it is expanding. PZ Cussons unveiled a fresh strategy to capitalize on its footprint.
First, it will pursue Core Growth by strengthening its presence in key markets. Notably, the brand has already doubled its directly served stores in Nigeria since 2022.
Second, the group plans Category Expansion. Using heritage brands like Imperial Leather and Premier, they intend to break into adjacent markets such as men’s grooming.
Finally, they will execute a Pan-Africa Expansion. The established operations in Nigeria and Kenya will serve as launchpads for entering new territories across the continent.
Financial Weight
The Africa division remains a powerhouse for the group’s bottom line. In the 2025 fiscal year, it generated £141 million in revenue and £16 million in adjusted operating profit.
Currently, these operations account for roughly 30% of the Group’s total profit.
“The Board is confident that PZ Cussons is well placed to succeed through leveraging local insights and its brand heritage,” the statement concluded.
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