Ivorians drink champagne like water in toast to new affluence
THERE are few things that people from Ivory Coast enjoy more than a night out with champagne, music and big cigars.
Champagne sales have soared in the West African nation, making it the fastestgrowing market for bubbly in Africa. Sales almost tripled between 2011 and 2014 to 211 103 bottles, according to the Comité Champagne, a trade association based in Epernay, France.
And judging from the latest estimates, sales grew 65% again last year, according to Taittinger, a champagne producer that recently outlined its plans for African expansion at a festive reception in Ivory Coast’s commercial capital, Abidjan.
A bottle of champagne in Ivory Coast starts at about 22 500 West African francs (about R600) and can cost as much as 120 000 francs — not a cheap buy in a country that had per-capita income of $1 319 (about R21 200) in 2015, according to the IMF. But that is not deterring consumers.
“Champagne is flowing like water in Ivory Coast,” said Vincent Voisin, Africa and Middle East export director of Grands Chais de France, one of France’s leading exporters of wines and spirits. “Ivorians like to party, and women are consuming more and more. It’s become an affordable luxury, with a growing middle class that’s got the money to have a good time.”
With aging populations in Europe and subdued growth, consumer companies are turning to rapidly expanding economies in Africa, where young people constitute a ma- CHEERS: Champagne is becoming the favoured aspirational tipple in Africa, with South Africa second to Nigeria in consumption jority. Champagne sales are declining in the EU and have hardly changed in the past decade in the US.
Africa will be the fastestgrowing market for beer and other alcoholic drinks in the next four years, according to London-based market researchers such as IWSR and Canadean.
Recovering from a decadelong conflict, Ivory Coast is benefiting from rapid urbanisation, an expanding middle class and changing demographics. Of a population of 23 million, 59% are younger than 25, and more than a third are between 25 and 54.
Nigeria, with Africa’s biggest population of more than 170 million, still tops the ranks of biggest buyers of champagne on the continent, followed by South Africa.
Four consecutive years of rapid economic growth in Ivory Coast have translated into a 20% rise in per-capita income, according to the IMF. Last year, the economy’s expansion was estimated at 8.6%, more than twice the average in sub-Saharan Africa. The government forecasts growth of at least 9% this year.
But there is more going on than just changing demographics. Ivorians have a reputation among West Africans for their fun-loving nature, trendy music and fashion.
The recovery has also lured back citizens who fled the crisis to countries including France, Ivory Coast’s former colonial ruler. Among those who have returned are many highly educated, independentminded women aged 30 to 35, bringing with them a predilection for quality foreign brands, according to RanieDidice Bah, an economist at Ivory Coast’s Labour Ministry.
“It’s they who fuel local demand for the foreign brands you see springing up in Abidjan, ranging from champagne to supermarket chains to bakeries.” — Bloomberg