Company expands in key African markets
Nampak expands in key African markets
Despite challenging macroeconomic headwinds causing a slowdown in consumer spending in many African markets in 2016, packaging company Nampak remains confident of the demographic fundamentals underpinning long-term packaging growth on the continent.
While the company continues to be circumspect regarding capital investment, opportunities in a variety of substrates are being evaluated, taking into account market conditions and the prospects of improvement in the availability of hard currency.
In line with its strategy to unlock value from its base business and accelerate growth in Africa, outside South Africa, the company is investing about $22-million in Angola – pending government confirmation of the allocation of foreign currency from cash on hand – for the conversion of an existing 700- million tinplate beverage can line to a one-billion aluminium beverage can line, on the back of strong demand for aluminium cans in the country.
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