ABN – Poultry producer Astral Foods has announced plans to expand its presence in Africa by moving into Ethiopia.
The company’s core market is in South Africa and the rest of the continent, where chicken consumption is lower, represents a big opportunity.
Astral CEO Chris Schutte said: "If we do pull the trigger in Ethiopia it will be a greenfields investment, and it will be some time before we see anything at bottom line.”
Mozambique, Zambia and Swaziland are already part of the Astral Foods operations.
Following the completion of the company’s expansion projects in Zambia and Mozambique its profits grew by 24%.
Schutte added: "If you ask whether Africa will ever represent 50% of Astral’s revenue then that might take 20 to 25 years.
“But if we can get to 10% to 15% in the next few years then we would be happy with that."