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SSA Consumer Goods Report - A resilient industry

Suffering from pandemic-exacerbated challenges like supply chain bottlenecks, increased operational inefficiencies and reduced physical interactions/demand, the FMCG industry has proved quite resilient as amid these disruptions from the pandemic, the industry is estimated to have grown by 10% y/y in 2020. As such, the growth prospects for the industry cannot be denied and remains viable.

Africa’s population size has been a key consideration in the attractiveness of the region as an investment destination. Moreso, its rapid population growth and urbanization rates have driven home this point, especially in the context of consumption and consumer spending, which is expected to grow to $2.5 trillion in 2030 from $1.9 trillion in 2021. This sentiment has come in handy as global FMCGs increasingly seek to enhance their regional presence and growth outside of their primary markets, with significantly increased M&As in the region over the past decade.

In this maiden SSA consumer goods report, we look through some of these challenges and opportunities present in Sub-Saharan Africa, drilling down to select SSA economies including Nigeria, South Africa, Kenya, Ghana and Angola.