DP World-owned Imperial has acquired a controlling stake in Nigeria’sAfrica FMCG Distribution as the global ports operator continues to expand its presence in the continent.
Part of the Chanrai Group of Companies, AFMCG is a multi-faceted business distributing products that positively impact consumers’ daily lives across Africa. The business offers a nationwide and best-in-class route-to-market solution across multiple channels in Nigeria.
The company said that the move aligns with Dubai’s five-year plan to expand the emirate’s trade partnerships with promising global markets.
DP World has been strategically expanding its business in Africa, a growth region presenting trade opportunities for further development in the key sectors of ports and logistics, trade, corridors, eCommerce and so on.
Sultan bin Sulayem Group Chairman & CEO DP World
“This transaction is aligned with our ambition of becoming the leading market access and logistics partner in Africa by connecting trade flows into and out of Africa. AFMCG boasts unmatched route-to-market solutions in Nigeria. It also offers strategic value to DP World from a supply chain and fintech perspective, in line with our strategic objective of leveraging assets and logistics to create an integrated global supply chain – from the factory floor to the customer’s door.”
Mr. Mohammed Akoojee, Chief Operating Officer of DP World Logistics and Group CEO at Imperial commented that, “Being one of the largest economies on the African continent with attractive demographic and macroeconomic fundamentals, Nigeria boasts a significant consumer market. AFMCG presents an ideal opportunity with the necessary scale for us to leverage to sell truly pan-African solutions to our principals and clients.”
“This strategic transaction further enhances our foothold in this significant market and allows us to offer further benefit to our principals and keep pace with the evolving needs of the African consumer,” noted Mr. Subodh Chanrai, Chairman of AFMCG.
