Consumer goods company PZ Cussons [LON:PZC] announced it will retain its African operations following a strategic review, stating that previous offers “did not reflect the inherent value of the business.”
The company aims to maintain a balanced portfolio across developed markets (UK, Australia/New Zealand) and emerging markets (Indonesia, Nigeria).
Africa Growth Strategy
PZ Cussons outlined a three-pillar strategy for its African operations:
- Grow core operations in Nigeria, Kenya, and Ghana.
- Expand into new product categories, with a focus on men’s grooming and beauty products.
- Extend reach to additional African markets leveraging existing operations in Nigeria and Kenya.
The company highlighted that nearly 80% of Nigeria revenue comes from brands ranked first or second in their categories, with double-digit revenue growth reported in Africa during H1 of the current financial year.
Portfolio Optimization
As part of ongoing portfolio management, PZ Cussons plans to divest approximately £7 million in non-core African assets this year, following the sale of its 50% stake in PZ Wilmar Limited, Nigeria’s edible oils business, to Wilmar International for $70 million.
The company has also implemented measures to mitigate currency volatility and operational risks in African markets, particularly in Nigeria.
CEO Comment
Jonathan Myers, CEO, emphasized PZ Cussons’ “deep heritage” in Africa and the strength of its brands and operational capabilities as central to the decision to retain the business.
PZ Cussons will share more details on its Africa growth strategy and overall company direction at a Capital Markets Event on 11 February 2026, coinciding with the FY26 interim results announcement.