Indonesia’s Ministry of Foreign Affairs reported that economic cooperation between Indonesia and Africa continues to thrive. Several Indonesian companies are aggressively exporting to the African market, including PT Indofood CBP Sukses Makmur Tbk. (ICBP) with its instant noodle brand, Indomie. Indonesia’s Foreign Minister, Retno Marsudi, highlighted that economic cooperation between Indonesia and African countries has consistently increased over time. Among the ongoing collaborations are the export of vaccines to 41 African countries since 2001, the establishment of an instant noodle factory in Nigeria where Indomie has gained immense popularity, the processing of clove essential oil in Zanzibar with plans to add a distillation unit in Africa, and the export of Indonesian agricultural tools and fertilizers to the continent.
The 2024 Indonesia-Africa Forum (IAF) was held to further strengthen this cooperation, marking the second forum since its inception in 2018, where agreements worth USD 568 million were signed. The strengthening of ties has led several companies to intensify their exports to Africa. For instance, ICBP has been exporting for the past 30 years, with its Indomie products now available in over 50 countries. In the Middle East and Africa alone, ICBP’s sales reached IDR 7.99 trillion in the first half of 2024, a 6.62% year-on-year increase. Additionally, PT Kimia Farma Tbk. (KAEF) reported an export surge, including to Africa, with overseas sales reaching IDR 72.17 billion, up 24.73% yoy. KAEF expanded exports of multivitamins and antiseptics to Nigeria in 2022, establishing a regular market in collaboration with a Nigerian pharmaceutical company. PT Kalbe Farma Tbk. (KLBF) also expanded its international footprint, targeting ASEAN, the Middle East, and Africa. Meanwhile, PT Astra Agro Lestari Tbk. (AALI) ramped up palm oil exports to Africa, and PT Astra Otoparts Tbk. (AUTO) targeted potential export markets in Asia and Africa, with exports hitting IDR 819.01 billion in the first half of 2024, a 54.30% increase from the same period last year.
