PwC MSME Survey 2020

Case study: Nuli Juice Company (1 of 3) E=YOOO Ada Osakwe PwC MSME Survey 2020 PwC Nuli Overview of Business Nuli (pronounced "Noo-lee”) is coined from 'Anwuli', an name from the Igbo ethnic group of Eastern Nigeria that means 'Happiness'. It is an indigenous food company dedicated to inspiring a happier generation for Africa through the manufacturing of fresh foods & beverages made from locally-grown fruits and vegetables. Ada Osakwe, the founder of Nuli, was disturbed by the over 60 percent post-harvest losses of fresh agricultural produce, partly due to the lack of large-scale, frequent buyers like food processing companies. Furthermore, she wanted to stem the rising rates of malnutrition due to unbalanced diets containing foods with limited nutrients. These problems inspired her to come up with a solution to add-value to fresh agriculture produce, while also providing a convenient access to healthy, nutritious, locally-grown foods. Launched in January 2015 with a direct-to-customer online distribution model for fresh juices, Nuli has quickly become Nigeria's fastest-growing innovative fresh beverage manufacturer and farm-to-table quick service restaurant (QSR) brand, serving a unique and diverse menu that is making it more convenient for Nigerians to live better, healthier lifestyles while creating value- added markets for Nigerian farmers. The Company has ten restaurant outlets across Lagos. Since the launch of its Quick Service Restaurant (QSR) concept in 2016, Nuli has surpassed early expectations in transforming fast-casual-eating trends in Nigeria through its unique use of only locally-grown agricultural products, as well as its focus on leveraging innovative technology and empowering Nigerian youths. Through its diverse offering the Company stands to tap into the USD2.5 trillion global restaurant industry and USD3 trillion packaged foods industry, the rising trend in the formalization of shopping outlets and increased consumer spending in developing countries like Nigeria, as well as the organic fresh produce international market. Within 5 years, Ada's vision is to see Nuli being franchised in global consumer markets in the Europe and the United States. June 2020 20

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