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Nestlé planning African expansion: report

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Feb. 2 – Candy maker Nestlé SA is sweet on Africa, and planning a US$70-million expansion to increase its reach across the continent.

Vevey, Switzerland-based Nestlé will spend R500 million in South Africa to build a cereal factory and improve its noodle business, Reuters is reporting.

Nestlé is eyeing emerging markets for company growth, with plans for 40 per cent of its business to come from markets like Brazil, China, Ghana and Vietnam within a decade – up from its current 30 per cent, according to the report.