PZ Cussons Plc, the parent company of PZ Cussons Nigeria, is considering selling its African subsidiaries due to the depreciation of the Naira.
The company’s financials have been significantly impacted by the naira depreciation, which fell by 70% from May 2023 to May 2024. PZ Cussons is considering either a partial or full sale to reduce its exposure to naira fluctuations.
The company is also exploring potential transactions to sell its St Tropez brand and use proceeds to reduce gross borrowings and net interest cost.
