Unilever in Africa: Targeting the Bottom of the Pyramid

In March 2015, upbeat about the growth prospects in Nigeria, multinational consumer goods leader, Unilever PLC (Unilever), increased its stake in Unilever Nigeria PLC to 75% from 50.04%. As of 2014, Nigeria with its population of 170 million had a growth rate of 6.54%, which made it one of the 10 fastest growing economies of the world. Bruno Witvoet, Executive Vice President of Unilever Africa, said, “This proposal demonstrates our commitment to the Unilever Nigeria business and confidence in the long-term growth prospects of the company and consumer goods sector in Nigeria.”..