PepsiCo plans on expanding its operations in Africa this coming decade. In an interview with Sanjeev Chadha, head of PepsiCo’s operations in the Middle East and Africa, he explained why Pepsi is bullish about its prospects in Africa despite the region’s reputation as a difficult and contentious place in which to both conduct business–and he was adamant that the company can maintain sustainable development and operate responsibly.
“Africa is the new Asia,” Chadha said to me yesterday as we started our chat as yesterday’s sessions winded down. The macroeconomic factors certainly support his optimism. Take Africa as one entity, and you have a billion people contributing to a trillion dollar economy. Economic growth is certainly impressive compared to much of the world, with an overall rate at five to six percent annually.