PZ Cussons has reversed its decision to leave Africa, saying improving economic indicators in Nigeria and a strong long term population outlook across the continent influenced the change in direction.
The company disclosed this in a statement published on Thursday, concluding the strategic review it launched in April 2024 to assess the future of its Africa operations.
According to the statement, the group received substantial interest from investors seeking to acquire parts of its Africa portfolio. However, the board resolved that retaining the business would offer greater value to shareholders, especially as the company pursues a balanced presence in the United Kingdom, Australia, New Zealand, Indonesia and Nigeria.
The firm confirmed the sale of its 50 per cent shareholding in PZ Wilmar Limited, its non core edible oils business in Nigeria, to Wilmar International for 70 million dollars. It added that the wider Africa business remains central to its long term strategy.
PZ Cussons highlighted Africa’s projected population increase of more than 900 million people over the next 25 years, noting that Nigeria alone is expected to add over 100 million people. It said the combination of urbanisation, a growing middle class and recent improvements in currency and economic stability contributed to the company’s strong performance, including double digit revenue growth in the first half of the financial year.
The group outlined a three pillar plan that will guide its operations. The first pillar focuses on strengthening its core markets in Nigeria, Kenya and Ghana through improved distribution, digital engagement and brand building. The second pillar targets expansion into adjacent categories such as men’s grooming and beauty by leveraging established brands like Venus, Imperial Leather and Premier. The third pillar aims to use existing footprints in Nigeria and Kenya to push its products into new African markets.
PZ Cussons reported that its Africa arm generated 141 million pounds in revenue and 16 million pounds in adjusted operating profit in the 2025 financial year, representing 27 per cent and 30 per cent of group totals respectively. Following the sale of PZ Wilmar, the Africa business now includes Family Care and Electricals in Nigeria, with Family Care operations in Ghana and Kenya. The group holds a 73.3 per cent stake in PZ Cussons Nigeria Plc.
The company is headquartered in Manchester, United Kingdom.
