Unilever sees Africa as major FMCG mkt, after BRIC nations

FMCG major Unilever Ltd today said that after BRIC countries, the African region has a good market potential for the company. "Africa is the next frontier of growth. It will become next to Asia. The question is whether it is going to happen in 10 years or 15. We don't know", Unilever chief operating officer Harish Manwani told reporters here.

He added: "But, without doubt, there are 800 million people living in sub Saharan Africa. And their GDP growth has been steady at 5 to 6 per cent per annum." Speaking on the sidelines of an event at Indian School of Business, Manwani said the business growth is also expected from countries which have a population of more than 100 million.

"These markets are showing signs of resurgence. So we feel very good about it. BRIC (Brazil, Russia, India and China) plus next thirteen markets, having population of 100 million or more have huge business potential," he added.

Replying to a query, he said their deodorant manufacturing facility in Maharashtra will be ready soon. He, however, did not specify when the plant would be ready for operations.

"We are awaiting some approvals from government. Once operational, the plant will cater to some of the south Asian countries also," a senior HUL official said. When asked about the impact of the Government decision to allow Foreign Direct Investment in multi-brand retail, he said it will not change the company's strategy.

According to him, rural India is the biggest consumer market in the world and the company is fully focused to tap this opportunity. "Rural India is one of the biggest opportunities in the world because it is the place where 700 million people live," he said without divulging the company's revenue figures from rural India.