Issue 62

Far from being an inauspicious place for doing business, Africa is a continent full of opportunity so long as you have the right product.

Africa is a continent ripe for business, especially healthy food and drink targeted at the local consumer, according to a Thai business person well-versed with the market.

“In many areas Africa imports about 80% of all food consumed, because the region cannot provide adequate supplies locally,” says Nampetch Tatiyawong, the head of international business at Thai soymilk exporter Green Spot.

Established in 1954, Green Spot exports its products to more than 40 countries around the world. In addition to markets in Asia, it targets Africa, particularly Ghana and Nigeria.

“As African countries do not have much luxury shopping, consumers spend their money on the household, especially on food,” says Tatiyawong, adding that Africans take great care on their diet and healthy living, choosing health drinks that improve their wellbeing.

Word of mouth is still vital for market penetration.

“If they [consumers] are impressed by a product, they will recommend it to friends, especially in West Africa,” Tatiyawong says. “In Nigeria many products are imported for both locals and expats.”

In addition to health drinks, instant or ready-to-eat foodstuffs are proving popular.

Having official endorsement, such as attaining the Thailand Trust Mark also helps strengthen brand recognition, and generates consumer trust and recognition.

“Thai rice as well as products with a Made in Thailand label are accepted as quality, especially with consumers who spend their money on attaining a better life,” she says. “The key thing is to ensure that your products are a good quality and at a price lower than those imported from Europe, so there’s always room for your brands.”

As consumers pay increasing attention to healthy living, Green Spot is targeting becoming the market leader in quality soybean-based drinks, through constant product development.

“We just continuously create our healthy new products focusing on non-dairy alternatives, such as almond milk, rice milk or grain milk in both Asia and Africa,” says Tatiyawong.

For more information, visit www.greenspotthailand.com

Words by Natthinee Ratanaprasidhi