Time to get excited about Africa again?
Commercial Spirits Intelligence No.70
Photo by Dwayne joe on Unsplash
This newsletter is a collaboration between Duncan McFadzean of Noble & Co, and Martin Purvis of Smart Distillery Solutions. In this newsletter, we leverage our experience, contacts and market intel to provide meaningful analysis on relevant issues for you. Full articles are available to paying subscribers.
Time to get excited about Africa?
Demographic trends across the continent of Africa are driving significant shifts in wealth and consumption. This is likely to be very beneficial for spirits producers but it is rare to hear significant focus on the African market in corporate presentations or industry new releases. How large is the opportunity? What is the make up of the market? What are the drivers? In a time when growth is hard to come by and premiumisation/inflation is slowing, we are curious as to why more focus is not being placed on this region? There is a vast range of wealth, income, attitudes to drink and business environments to operate in – but other industries seem to make it work.