PZ Cussons Plc, the parent company of PZ Cussons Nigeria, has said it will no longer proceed with plans to sell its African subsidiaries.
Gatekeepers News reports that the company said it will keep its Africa operations as part of a growth strategy that balances its developed markets with its emerging ones.
The update was released on Thursday as part of the company’s ongoing review of its Africa business, which started in 2024. In September that year, the group had announced that it was considering selling part or all of its African operations to reduce exposure to naira volatility.
On June 18, 2025, Wilmar International Limited agreed to acquire PZ Cussons Plc’s 50 percent stake in PZ Wilmar Limited, their Nigerian joint venture, for $70 million.
According to the new statement, several parties had shown strong interest in the broader Africa portfolio. Still, the company’s board decided that keeping the business would create the most value for shareholders.
PZ Cussons said the group will now build a portfolio that balances the United Kingdom and Australia/New Zealand with Indonesia and Nigeria.
The company said it will focus on building strong local brands by strengthening its major markets, entering new product categories, and deepening its presence across Africa.
It plans to expand operations in Nigeria, Kenya, and Ghana through stronger brand building, wider distribution, revenue management, better in-store execution, and digital tools. It noted that its Nigerian arm has more than doubled the number of stores it serves directly since 2022.
For new categories, the company plans to expand into areas such as men’s grooming and beauty, using brands like Venus, Imperial Leather, and Premier. It also plans to reach new African countries from its existing bases in Nigeria and Kenya.
The company said economic and currency conditions have improved enough to support double-digit revenue growth in the first half of the financial year.
It said Africa offers a long-term opportunity, with the continent’s population expected to rise by more than 900 million in the next 25 years. Nigeria alone is projected to grow by over 100 million people, with urbanisation and a rising middle class boosting demand.
PZ Cussons said the board is confident in the group’s ability to grow by drawing on its local knowledge and strong brand history.
The company added that it remains competitive in Nigeria despite the exit of some multinational firms, noting that almost 80 percent of its revenue in the country comes from brands that rank first or second in their categories.
