Food is good
DESPITE difficulties in 2011, Nestle Egypt has witnessed double-digit growth, said Paul Bulcke, CEO of Nestle SA, at a press conference last week. "We want to replicate our company's growth in Egypt, worldwide," he said.
"Food is a relatively stable business," Bulcke told Al-Ahram Weekly, underlining nonetheless that it's a challenge to maintain quality food and in certain environments, in reference to the instability present since the 25 January Revolution. To him, Egypt's 85-million strong population, working for a better life and building a middle class, is motivating for his businesses. "That is why we are so upbeat about our future in Egypt."
Nestle invested LE500 million in its operations in 2011 and has pledged an equal amount for 2012 to 2014. The investment will go into enhancing manufacturing capabilities and improving the quality of Nestle products.
Bulcke underlined the importance of stability for business to thrive.
According to Bulcke, 40 per cent of the company's sales are from emerging markets where 80 per cent of world population resides. He hopes that figure can increase to 50 per cent before the end of the decade.