Sidel Group, one of the world’s biggest packaging solutions providers, has opened a Nigerian office in Lagos in what’s expected to improve the revenue of the more than 175-year-old manufacturer and its customer base across West Africa in the next two years.
“Our mission to grow and to reach more than €2 billion in revenue within 2028 will be related a lot to the growth in Africa. And speaking of African countries, Nigeria together with Kenya is one of the most important opportunities for growth,” Pietro Cassani, president and chief executive officer of Sidel Group, told BusinessDay in an interview during the opening of the Lagos office on Wednesday.
The Lagos opening comes at a time when many multinationals are exiting Africa’s most populous nation due to volatility in exchange rate, high inflation and uncertainty around government policies. But the macroeconomic situation is improving with naira maintaining its rarest rally and inflation cooling to the lowest in about three years.