It isn't "a tough market." It's forex convertibility risk, policy unpredictability, and entry-structure failure — and a small group of local champions has already cracked the code.
STANDFIRST: Shoprite. GSK. P&G. Unilever. Diageo. Every exit statement uses the same three words — "challenging operating environment." Africa Brew Brief went behind the boilerplate to find the actual mechanism, and to ask why Nigerian-owned companies operating in the identical macro environment are getting richer at the same time.
