Kenya’s rapidly expanding fast-moving consumer goods (FMCG) segment has been a major driver of industrial growth, benefiting from the particularly strong demand for food and beverages (F&B) and personal care products. This has led a number of international firms to enter the market or increase existing investments in recent years, most notably US firms including the Wrigley Company, PepsiCo and Coca-Cola. A sure sign of a flourishing economy is a rise in consumer purchasing power and fast-moving consumer goods (FMCG) brands have carved out a larger chunk of the market than ever before. Kenyan mobile payment brand M-PESA for the third year in a row has been voted Kenya’s leading Super brand, ahead of its parent company, Safaricom. Apart from this three FMCG brands, Pampers, Weetabix and Supa Loaf, made their way into the top ten last year.
Africa is in a prime position to dominate the FMCG market: 2/3 of Africa’s $1.4 trillion retail spending in 2016 was on FMCG goods- which dominate almost all of Africa’s household expenses. Changing demographics and improving business environments across the continent will be just two of the factors contributing to rising household consumption, which is predicted to reach $2.5 trillion by 2030. Africa is probably the single most profitable sector for FMCG spending expansion bar East Asia.