British consumer giant, PZ Cussons, announced that its still conducting a strategic review of its wider African business, which includes Kenya, and no decision on its future had been made yet.
The company said:
“The strategic review of our wider Africa business is ongoing. This comprises our Family Care businesses in Nigeria, Ghana and Kenya, and our Electricals business in Nigeria. We remain committed to maximizing long-term shareholder value and will provide an update as appropriate.”
Its products in Kenya, distributed by PZ Cussons East Africa Limited, range from hygiene products like Imperial Leather, Carex and Morning Fresh dishwashing liquid to baby products like Cussons baby powder.
The announcement comes despite the company reporting positive performance in Kenya, where it achieved what it described as good, volume-led growth driven by strong Modern Trade performance during the year ended May 2025.
PZ Cussons first announced it would review its African business in April 2024, describing it as “a complex group of assets” and is “evaluating the strategic options both to reduce risk and to maximize shareholder value.”
The company’s board chair, David Tyler, in last year’s annual report said:
“Our portfolio in Africa is complex and so we are evaluating strategic options both to reduce risk and to maximise shareholder value. There is no pre-determined outcome but, having received expressions of interest from a number of parties, the Board is now exploring transactions that could lead to the partial or full sale of our African business.”
PZ Cussons exited one of its “non-core business” in Nigeria, PZ Wilmar, a joint venture between PZ and Wilmar that manufactures edible oil, by selling its 50 per cent stake to Wilmar International for $70 million in June this year.
The company unsuccessfully attempted to sell St. Tropex brand through an auction before later announcing it would retain the business and revamp its operating model after receiving no suitable offers.
Jonathan Myers, Chief Executive Officer, said:
“We are also delivering on the plan to simplify and transform our business. In June we announced the sale of our 50% stake in PZ Wilmar, for $70 million, materially strengthening our financial position. We also took the decision to retain St.Tropez, to create more value through a new strategic direction and operating model. We continue to review the future of our wider African business.”
The company’s African operations generated revenues of £140.9 million(Sh ) for the year ended 31st May 2025, a decline of 7.1 per cent compared to £151.7 million(Sh billion) reported in the prior year.
The company’s African operations generated revenues of £140.9 million(Sh24.2 billion ) for the year ended 31st May 2025, a decline of 7.1 per cent compared to £151.7 million(Sh26 billion) reported in the prior year.
Kenya and Ghana generated revenues of £33 million(Sh5.7 billion) with Kenya delivering good volume-led growth.
The company did not provide a timeline for completing the review but said it would update the market once the final decision is finalized.
