Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Kensington Distillers & Vintners buys 1960 Rootz

London-based Kensington Distillers and Vintners Limited (KDV) has acquired the 1960 Rootz brand in Nigeria from AB InBev. The purchase includes the state-of-the-art manufacturing plant used to produce 1960 Rootz.

Kensington Distillers & Vintners said a new business name has been formed – Monument Distillers and the production facility will soon be moved from AB InBev’s Port Harcourt production facility to Lagos where Kensington Distillers’s offices are based.

Champion Breweries ends year with a loss

Champion Breweries Plc on Thursday reported a net loss of N264m for the full year 2018.

The Akwa Ibom-based brewer said that its business experienced flat sales growth amid rising costs. Total sales declined tepidly by 0.28% to N4.8bn amid a jump of 143% in administrative expenses to N962m.

A similarly 27% spike in Selling & Distribution expenses to N529m from N417m in the previous year also added to the brewer’s woes, leading to an operating loss of N224m.

Zambia pulls Viagra spiked energy drink from store shelves amid safety concerns

Zambian authorities have pulled an energy drink that they say contains Viagra from store shelves following test results from the country’s medicine regulator.

The drink, Natural Power SX High Energy Drink, which comes in 500ml cans and manufactured by Revin Zambia Limited, a local beverage producer is said to contain Sildenafil Citrate, a medication used to treat erectile dysfunction in men and pulmonary arterial hypertension and should never be taken without a prescription.

The drink which is said to be very popular among Zambian men is also exported to neigbouring countries – Uganda, Zimbabwe, Malawi and South Africa.

FOBTOB launches empowerment scheme for members’ children

The Food, Beverage and Tobacco Senior Staff Association (FOBTOB) has launched a N1million empowerment scheme for children of its members who graduate with first class.

The union’s President, Quadri Olaleye, who revealed this at a luncheon in Lagos in honour of the media for their support for the union’s activities, explained that the award of N1million to brilliant youths was aimed at promoting academic excellence.

MAN warns FG against VAT increase

The Manufacturers Association of Nigeria (MAN) on Thursday said the proposed VAT rate incremement was unfriendly to the manufacturing sector.

The Director-General of the association, Mr Segun Ajayi-Kadir, made the remarks in Lagos, in spite of the rebuttal from the Federal Inland Revenue Service (FIRS) on the issue.

Cadbury Nigeria names Oyeyimika Adeboye as new Managing Director, Ogaga Ologe as Finance Director

Cadbury Nigeria Plc on Tuesday announced the appointment of Mrs Oyeyimika Adeboye as the company’s new Managing Director effective 1st April 2019. Mrs Adeboye takes over from Mr Amir Shamsi, who will take on a new role within Mondelēz International, the parent company of Cadbury Nigeria.

Mrs Adeboye would be the first woman Managing Director in Cadbury Nigeria history. Her appointment attests to the Company’s commitment to promoting gender equality, diversity and inclusion.

Cadbury Nigeria sustains growth momentum at full year

Cadbury Nigeria Plc reported a net earnings growth of 174% in 2018. Profit skyrocketed to ₦823m from ₦300m in 2017. The leap in profit was helped by a 9% sales growth to ₦35.9 from ₦33bn, with its flagship Bournvita and 3-in-1 Hot Chocolate, which contributed 59% of Group sales recording 17.55% sales increase.

FrieslandCampina WAMCO partners IFDC to increase milk production in Nigeria

FrieslandCampina WAMCO has partnered with the International Fertilizer Development Center (IFDC), a science-based public organization, in a project that aims to boost milk production for pastoralist milk producers in Nigeria.

Along with IFDC, the company said it will work together with pastoralist milk producers in Oyo State, to boost the quality and quantity of local milk and improve the livelihoods of farmers.

AB InBev reorganizes board; appoints new board chairman, others

Anheuser-Busch InBev has announced the appointment of Martin Barrington as its new board chairman. Mr Barrington, a former chief executive officer of cigarette maker Altria Group, a major shareholder of AB InBev with 10.2% stake, has been on the company’s board since 2016.

Coca-Cola and bottling partners to boost recycling of PET in East, Southern Africa with $38m investment

Coca-Cola has announced new collection and recycling plans for PET plastic in Southern, East and Central Africa for the next three years.

The company, in partnership with its bottling and industry partners in the region, will invest around US$38m to boost recycling industries and educate consumers about recycling.