NIGERIA: Cadbury Nigeria plans further expansion
Food and beverages company Cadbury Nigeria, in which UK-based Cadbury Schweppes has a 46% equity share, has said it plans to expand into other West African countries after success in Ghana.
Managing director Bunmi Oni said Cadbury had set its sights on the big markets in major commercial cities in the Ivory Coast and Senegal.
Oni said he was aware of the challenges of operating in French-speaking West African states. One challenge the company faces is that consumers in such countries generally prefer French products.
"It depends on what research tells us. But one thing I can assure you is that we will not expose ourselves only because we want to export," Oni was quoted by Reuters as saying.
Cadbury Nigeria launched its Bournvita drink and TomTom sweets in Ghana earlier this year and Oni said its success there would now serve as a basis for further expansion.
The company's subsidiary, Stanmark Cocoa Processing, exports cocoa liquor, cocoa powder and cocoa butter, but Oni said only the confectionery business featured in the latest expansion plans as it was Cadbury's fastest growing segment.
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