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For Multinationals, Africa’s Allure Is Fading
After decades of optimism about the region, global giants such as Bayer, Nestlé and Unilever are cutting back.
22 Apr 2024, 09:10 AM IST
(Bloomberg Businessweek) -- Nestlé SA in August shuttered production of Nesquik chocolate milk powder in South Africa, citing falling demand. A year ago, Unilever Plc pulled the plug on the manufacturing of home-care and skin-cleansing products in Nigeria to “sustain profitability.” And pharma giants Bayer AG and GSK Plc have outsourced distribution of their products to independent companies in Kenya and Nigeria.
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