Nestlé To Spend $1.4 Billion On Production Expansion in Africa

Though income levels are low in Africa, they are on the rise, and Nestlé SA has decided to take advantage of that by investing 1.2 billion Swiss francs ($1.4 billion) over the next four years to expand production capacity on the continent, where sales soared to $3.5 billion in 2010. The company also plans to fortify products made there with more micronutrients. Sales growth in Africa and other emerging nations is at double-digit levels, much stronger than in Europe and North America, where growth is two percent of less, according to the company. Nestlé expects to spend 150 million Swiss francs to refurbish factories in Kenya and Zimbabwe. The company opened a second factory in Nigeria this year, and new plants are planned in Mozambique and Angola.