December 7, 2010

Wall Street Journal: KFC Savors African Potential

An article by the WSJ found here highlights the trend of multinationls recognizing Africa's potential. The franchise, which is owned by Yum Brands is expected to double its number of outlets on the African continent - to 1,200 - by 2014. This move is coupled with the goal of doubling revenue on the continent to $2BN.

In addition to increasing its presence, the company will also be notably increasing its footprint on the continent. Whereas the vast majority of KFC's current outlets are located in South Africa (where it it has a 44% share of the $1.8BN fast food market), improving political and economic conditions across the continent has encouraged Yum to branch out into Nigeria, Namibia, Mozambique, Ghana, Zambia, and other African countries according to the Journal.

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