Wemy Industries Limited, in line with the global solutions have stepped up efforts on the exports of local manufacturing products to ECOWAS countries, other regional business hubs (CEMAC & COMESA) and actively participate in the fiercely competitive international marketplace, which is the pillar of our development strategy and business sustenance.
The sub regions are developing steadily, with about 8.2% economic growth creating a larger middle class with bigger opportunities for all segments of our business (Open Market-Distributorship, Joint ventures, Institutional sales – Hospitals, Schools, Retails – Supermarkets, Groceries etc).
Interestingly, (ARDI) 2015 reveals that a number of African nations are witnessing the development of a shopping culture, based broadly on strong economic figures that are seeing the growth of a middle class. The region remains a massive potential for business development as its long term GDP growth potential remains staller as the region starts to catch up. For retail, the potential too is unrivalled, with many of the young growing middle class not yet decided on brand favourites rather than availability of brands on the shelf or the market places.
The region has mainly long term potential, with the short terms more difficult to define, as instability continues in many countries in the region. A main factor that is contributing to the development of the shopping culture is an increase in urbanization – particularly strong in countries like Gabon, Ghana, Cote d’Ivoire, Cameroon, Angola. However, most of the countries within the West Africa region with a population of about 317 million live cumulatively with less than $2-4 per day.