Tiger Brands narrows focus to home market
After posting a 6.3 percent rise in half-year profit, food company Tiger Brands said that it will pull focus back onto middle-income consumers in its home market of South Africa.
In its recent strategic review update, the company said:
"The immediate priority is to rejuvenate the domestic business to deliver sustainable, profitable growth. We have refined our approach to our African strategy by exiting non-core categories in Kenya and Ethiopia."
Lawrence MacDougall, CEO (pictured), said that despite this, Africa remains part of the company's growth strategy. The company has furthermore identified manufacturing, marketing and distribution of branded food in South Africa as its core business.