Pizza delivery company Telepizza signs a Memorandum of Understanding with a master franchisee with businesses in Nigeria to open 30 stores in the next five years.
The understanding agreement, which includes the whole Nigerian market, establishes that first stores will open in the city of Lagos before the end of the year.
“This operation will strengthen our presence in Africa, with high growth potential areas where the company operates in since 2014, in Angola. We have already opened our fourth store in this country in less than a year,” explains Pablo Juantegui, CEO of Telepizza.
Nigeria is one of the most dynamic markets in this continent which progress is associated to population growth potential (the most populated African country with an average age of 18.5 years), socioeconomic growth and the fast development of infrastructures and other sectors such as retail and textile.
In addition, its food industry is the second largest, after South Africa, among the sub-Saharan countries.
The agreement with local partners with deep knowledge of new markets is key for international expansion.
Telepizza currently operates in Latin America, Central Europe and Africa, either organically, through acquisitions of local companies or via master franchises.
Its sales abroad currently represent over 30% of total.