Danone, one of the world’s biggest food and beverages companies is betting big on Africa’s most populous nation at a time many multinationals have taken the exit door on naira slump and sky-high inflation.
The Paris-headquartered company is making arrangements to double down its investment in Africa’s largest consumer market and expand its presence on recovery hopes that the nation’s economy has rebounded.
“We are convinced about the potential of Nigeria,” said Christian Stammkoetter, Danone’s head of Asia, Middle East, and Africa, who spoke with Semafor on the sidelines of the Africa CEO Forum in Abidjan.