Business chiefs urge long-term Africa view as growth dips

Cape Town

CHRISTO Wiese has some advice for companies looking to tap the spending power of Africa's 1.2 billion consumers: Stick around and have deep pockets.

"Over the years, I've seen too many companies set up shop, stay around for a while and then disappear again," 74-year-old Mr Wiese, who's been doing business in African countries other than South Africa for more than two decades, said in an address to the Consumer Goods Forum's global summit in Cape Town. "Make very sure Africa is where you want to be."