Diageo expects spirits boom in Africa At the time of its half-year results in February, Diageo said net sales of Johnnie Walker in Africa rose 32pc during the six months to December 31. The vast majority of Diageo's African business is in Nigeria, South Africa and East Africa but the group is eager to break into new markets such as Angola and Mozambique. Diageo is shortly expected to return to the acquisitions trail in emerging markets. It has instructed Goldman Sachs to close talks on buying a stake in Mexican tequila brand Jose Cuervo. Diageo's chief executive, Paul Walsh, has long coveted a majority holding in the 217-year-old brand, which his company has a contract to distribute in the US. It is believed that the Beckmann family, which owns Jose Cuervo, may be open to a minority stake in return for Diageo shares.