https://youtu.be/Db6Tx7Bj0gI
South African food and beverage producer, Pioneer Foods, is looking for acquisitions in at least five more African countries over the next five years after buying a majority stake in Nigeria’s Food Concepts at a cost of $7 million in March, Thushen Govender, the company’s head of international business, told Bloomberg Africa TV.
Food Concepts, a company founded by Nigerian businessman Deji Akinyanju, is an operator of quick-service restaurants and bakeries in Africa’s largest economy, Nigeria, and also has outlets in Ghana.
“Our focus is on larger economies with a higher population — for example, Angola, Kenya, Ethiopia, Tanzania and Ghana,” Govender said. “Our approach to investing in Africa is long term, even if over the short term there may be concerns.”