Monthly Archives: January 2019

Coca-Cola takes 100% ownership of CHI Limited

Coca-Cola has taken full ownership of CHI Limited.

In a statement issued on Wednesday, the soft drinks giant said that it has acquired the remaining 60% stake in CHI it does not already own.

Reduction in net finance charge lifts Guinness Nigeria’s half year profit

Guinness Nigeria Plc, on Wednesday said that net profit for its first-half of the year through 31st December 2018 grew by 21% to N2.6bn, helped by a sharp drop in net finance charge by 73% to N845m.

The maker of Guinness Foreign Extra Stout said that the lower finance charge was driven by the rights issue it initiated in 2017. The brewer noted that the benefits of the lower finance charge more than offset a 30% decline in Operating Profit in a challenging operating environment.

Nigerian Breweries names Sade Morgan as Corporate Affairs Director

Nigerian Breweries Plc has announced Mrs Sade Morgan as its Corporate Affairs Director and member of its executive committee reporting in this capacity to its Managing Director/Chief Executive Officer, Mr Jordi Borrut Bel.

In her new role, Morgan will strengthen the company’s non-crisis stakeholder relations and drive a strategy led relationship with government, regulatory organisations, host communities, the media and non-governmental organisations to reinforce the company’s philosophy of Winning with Nigeria.

Star Lager names music crooner Burna Boy as its newest Brand Ambassador

Afrobeat sensation, Burna Boy, has been announced as the new brand ambassador for Star Lager Beer. The announcement was made at the Circa, Lekki, Lagos on Sunday, 27th of January, 2018, where Burna Boy and the Star Lager brand team celebrated with a select few media, consumers and friends of the brand.

Gulder seeks new narrative with “Own Your Journey” tagline

Gulder, a Premium beer brand from the portfolio of Nigerian Breweries Plc has announced a new brand positioning going into 2019.

Revered for being the Ultimate beer, and known for its sleek golden brown bottle with the iconic helmet, Gulder will now be extending its market penetration by redefining the brand to Nigerians, urging them to own their journey.

The “Own Your Journey” phrase has just been introduced as the beer brand’s tagline, as Gulder seeks to alter its messaging to reflect its current brand position and craft a better narrative that can connect with its target audience.

CHI Capri-Sun launched in new 100ml pouch

CHI Limited, Nigeria’s leading fruit drink company has introduced Capri-Sun, a favourite fruit drink of children in Nigeria, in a new 100ml pouch size in order to meet an increasing consumer demand for more exciting and unique options.

According to the company, the new pouch size prized at N50 retail is an addition to excite consumers with the goodness of Capri-Sun, but more importantly, to give them the power of choice. The brand was until now only available in 200ml pouch size.

Diageo appoints Gabriel Opoku-Asare as new Head of Society, Africa

Drinks giant Diageo Plc has appointed Gabriel Opoku-Asare, as Head of Society (Sustainability and Responsibility) – Africa Region effective February 1, 2019.

Gabriel was the Corporate Relations Director at Guinness Ghana Breweries Plc (GGBPLC), a subsidiary of Diageo prior to his new appointment.

PDP rejects moves by government to raise VAT, Excise Duties

The Opposition People’s Democratic Party (PDP) in the forthcoming February 16 Presidential election has denounced plans by the current administration of President Muhammadu Buhari to increase the rate of Value Added Tax (VAT) as well as Excise duty rates on goods and services being used by Nigerians.

The Party and its campaign say such a plan is cruel, anti-people and further exposes President Buhari as uncaring and insensitive to the plight of Nigerians, who are already overburdened and groaning under the economic hardship occasioned by his harsh policies and incompetence in office.

Hollandia Evap launches 120g “Pere” pack

Leading dairy brand Hollandia Evap Milk has disclosed that it is now available in a 120g pack for only N100, lovingly referred to as “Pere”.

According to Chi Limited, the makers of Hollandia Evap Milk, the term “Pere” which translates as “no more, no less” is intended to symbolise the product’s high quality, satisfactory quantity and affordability, thereby resonating with consumers across the country.

In a statement, the company said, ‘‘With offer of the same premium quality, which is tasty, creamy and nourishing, and at an affordable price, the new Hollandia Evap Milk 120g pack comes in a convenient portion size and a brand new pack format in the evaporated milk category that will make it irresistible to consumers.

FG mulls VAT, Excise Duty increase on Champagne, Soft Drinks as it rolls out its Strategic Revenue Growth Initiative

The Federal Government has unveiled its Strategic Revenue Growth Initiative (SRGI) for sustainable revenue generation in various sectors of the economy, part of which is to increase Excise Duty rates on certain goods as well as Value Added Tax (VAT) from the current 5%.

Speaking in Abuja while launching the SRGI, Wednesday, the Minister of Finance, Mrs. Zainab Ahmed, said the implementation of the initiative would significantly boost the federal government revenue outlook in the months and years ahead.