Forbes Africa

The Smell OF MONEY

TO BREATHE the heady scent of red soil after heavy rainfall is to understand that even the African air itself can smell like heaven. But for hundreds of years, Africa has also been sharing its evocative fragrance ingredients with the world: fresh, sour orange blossoms from the north; warm and woody myrrh from the east; musky hyraceum (Africa Stone) from the south; floral, sugary ylang ylang from the west.

The global perfume industry is worth around $50 billion, and is dominated by the Western fragrance titans we see glamorously and beguilingly advertised in every multiplex pre-movie advertising segment. Many of these perfume houses own the facilities to extract and distil the essential oils and aromatic compounds that comprise your favorite fragrance’s unmistakeable ‘accord’ of base, middle and top notes. These ingredients are often imported from small suppliers in Africa, processed, and then re-exported into the commercial market of their country of origin as

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