Daily Archives: November 8, 2016

Ajinomoto buys stake in Promasidor for $532 million

Japanese food and ingredient manufacturer, Ajinomoto has agreed to buy a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen).

The stake gives Ajinomoto access to Promasidor’s distribution network in 36 African countries. The deal values Promasidor at about $1.6bn.

Ajinomoto seeks to attract Africa’s growing middle class consumers to its products. The company sees rising demand for low-priced foods and daily essentials on the continent.

Guinness Nigeria partners NYSC to promote responsible drinking among youths

Guinness Nigeria Plc has stepped up its commitment to responsible drinking behavior among consumers by partnering with the National Youth Service corps (NYSC) to deliver its innovative and trailblazing DRINKIQ training sessions to officials and corp members. The brewer hopes to spread the responsible drinking message across the country.