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Nestlé invests in SA expansion

Johannesburg - Nestlé is spending about R500m on expanding its business in South Africa, as the world's biggest food group sharpens its focus on emerging markets.

Nestlé said on Wednesday it will spend the money  on a new cereal factory and expanding its noodle business.

The maker of Kit Kat chocolate bars has said it wants at least 40% of its business to come from fast-growing markets such as Brazil, China, Ghana and Vietnam within 10 years, up from about 30% now.

Home to about 1 billion people, Africa is expected to see its population double by 2050.

The explosive population growth, together with rising personal incomes, makes the continent an increasingly attractive target for Western corporations.
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