Monthly Archives: July 2018

Nigerian Breweries sets up new N100bn “Commercial Paper” programme, accepts new loan facility

Nigerian Breweries Plc (“NB”), announced on Monday the establishment of a new N100bn Commercial Paper (“CP”) programme.

In a statement released by the company to the Nigeria Stock Exchange (NSE), it said the new Commercial Paper could be issued in tranches or series of such amounts and at such dates, discounted values, coupon or interest rate, within such maturity periods and upon such other terms and conditions as may be determined by the company.

The establishment of a N100bn Commercial Paper by NB marks the second time the brewing company would set-up a “CP” of this magnitude. At the height of the Nigerian recession in 2015, the company established a N100bn Commercial Paper programme, which at the time was reported to be the largest Commercial Paper programme to be established in Nigeria by a (non-financial institution) corporate issuer since the 2009 guidelines on Commercial Paper from the Central Bank of Nigeria (CBN).

Promasidor Nigeria closes on N5.6bn loan to support growth

Promasidor Nigeria Limited (PNL) has obtained a N5.6bn loan from the Bank of Industry (BoI) to support its expansion programmes.

Mr Per Kristensen, Promasidor Nigeria Finance Director, said the facility would be used to acquire additional machinery, factory expansion and value chain development, which would create jobs for Nigerians and increase the company’s capacity to support the country’s economy.

A statement attributed to the finance director was quoted as saying that repayment of the loan was structured over seven-year tenure, including a 12-month moratorium.

Diageo posts marginal revenue growth in full year as adverse foreign exchange hits sales

British drinks maker Diageo Plc reported its full year 2018 results on Thursday, with marginal revenue growth of 0.9% for the period ending 29 June 2018.

The company behind such brands as Johnny Walker Scotch whisky and Guinness Stout recorded £12.2bn in net sales for the year as against £12bn from the previous year. The firm noted that adverse foreign exchange headwinds impacted net sales. Total volumes declined 1%.

Coca-Cola sustains growth in Q2, with help from reformulated Zero sugar drinks

Coca-Cola on Wednesday reported its second quarter results for 2018, with a profit growth of 69% to $2.3bn, from $1.37bn in the previous year, sustaining a momentum that began in the first quarter.

The Atlanta-based soft drinks giant credits its strong performance to rising volume of its trademark Coke as well as sparkling soft drinks. Volumes of its Coke branded soft drinks grew 2%, helped by growth of Coca-Cola Zero Sugar and Diet Coke, while sparkling soft drinks rose 2%, with water, enhanced water and sports drinks growing 4%.

NBC rewards winners of ‘My Million don land’ Promo

The Nigerian Bottling Company Limited (NBC), bottlers of the famed Coca-Cola brand in Nigeria has rewarded 16 lucky winners of its ongoing empowerment scheme, ‘My million don land’.

The 16 winners were selected from the company’s local and retail hub partners following a series of open market activations and mystery shopping initiated in major markets across Lagos.

Speaking on the campaign, the Legal, Public Affairs and Communication Director, NBC, Mrs Sade Morgan described the new campaign as part of the firm’s commitment towards the empowerment of its trade partners.

Heads of FrieslandCampina, Heineken commit to increased investments in Nigeria

The leadership of Dutch firms in Nigeria have pledged to increase their investments in the country.

The commitments were made when Nigeria’s President Muhammadu Buhari, met with some of the CEOs of the Dutch firms during his official visit to The Hague, Netherlands.

Nestlé Nigeria MD, Mauricio Alarcon appointed second VP of NECA

Nestlé Nigeria’s Managing Director and Chief Executive Officer, Mr. Mauricio Alarcon has been appointed as second Vice President of Nigeria Employers Consultative Association (NECA). The announcement was made at the Annual General Meeting (AGM) of the association in Lagos on Tuesday. Mr. Alarcon has been involved in the direction of the association for the past one year as a member of governing council. He will play a key role in the governing council and management committee.

Cadbury makes gaining bigger market share a focal point of sustaining profitability

Cadbury Nigeria Plc, said it will make growing market share and bolstering the efficiency of its distribution system a focal point of sustaining growth and delivering better returns to shareholders.

The company’s chairman, Mr Atedo Peterside, outlined the firm’s plans while addressing shareholders at the company’s Annual General Meeting (AGM) at the weekend in Lagos.

He added that the company will focus on four strategic areas to drive its growth ambition in 2018, after emerging from loss last year.

Maltina Teacher of the Year 2018 extends entries deadline

Nigerian Breweries Plc, the organizer of the annual Maltina Teacher of the Year Award has extended its deadline for entries from Monday 2nd July 2018 to Friday 20th July 2018.

According to the Corporate Affairs Adviser, Nigerian Breweries Plc, Mr Kufre Ekanem, the extension was due to pressure from teachers across the country who wanted more time to participate in the award process.

Coca-Cola to sell alcohol spirits in Kenya

Crown Beverages Limited, a subsidiary of Coca-Cola Beverages Africa (CCBA), the continental Coke bottler based in South Africa but with footprints in over a dozen African countries including Kenya announced it has signed a deal with Italy-based Gruppo Campari to distribute premium spirits brands in Kenya , heightening up competition in that market.