Monthly Archives: February 2019

AB InBev posts weak results amid low consumer demand, hedging losses

AB InBev on Thursday reported a 15% decline in profit for the full year 2018, to $6.8bn. The brewing giant put the blame on consumption contraction in key markets – Brazil, Argentina, United States and South Africa as well as hedging losses linked to its share-based payment programs.

The company said that total beer volumes fell by 7.43%, although combined revenues of its three global beer brands – Budweiser, Stella Artois and Corona grew by 9%.

The company said that full year revenue declined by 3% to $54.6bn from $56.4bn in 2017.

Pernod Ricard plays for the long term in Africa

French spirits Group Pernod Ricard said it is in for the long haul in Africa. The world’s no. 2 spirits company sees huge opportunities on the continent and has been making investments to bolster its presence.

In a recent interview, the CEO of Pernod Ricard, Alexander Ricard said that the group has opened six offices in sub-Saharan Africa in the last six or seven years.

Former PepsiCo CEO Indra Nooyi appointed to Amazon board

Indra Nooyi, the erstwhile CEO of PepsiCo has been appointed to the Board of Directors of US online retailer Amazon.com.

Nooyi who spent 24 years with PepsiCo, including 12 as the CEO stepped down in October and gave up her seat on the beverage giant’s board this February.

NAFDAC mulls ban on alcohol packaged in sachets, PET bottles

The National Agency for Food and Drug Administration and Control (NAFDAC) has said it will no longer approve registration for alcohol packaged in sachets.

The Director General of NAFDAC, Prof. Mojisola Adeyeye, made this known recently in Ibadan at an interactive session with stakeholders in food and drugs manufacturing.

The regulatory agency head said that it has identified alcohol packaged in sachets as greatly contributing to increasing drug and alcohol abuse in the society.

Osaro Omogiade appointed Managing Director of Nosak Distilleries

Nosak Group has appointed Osaro Omogiade as the new Managing Director of Nosak Distilleries, one of its subsidiaries. This was disclosed in a statement by the Nosak Group on Thursday.

According to the statement, Osaro Omogiade is an experienced Manager in Process Engineering. He is an alumnus of Business School Netherlands, Nigeria (BSNN) and the Lagos Business School. He holds a first degree in Industrial Chemistry from the University of Nigeria, Nsukka and a Masters in Process Engineering from the University of Lagos (UNILAG). He is also a member of the Nigeria Institute of Production and Operation Management and has held different positions in major manufacturing companies including, production, research/development, project and management of operations.

Nestlé Waters Nigeria rebrands Nestlé Pure Life

Nestlé Waters Nigeria has re-launched its two variants of premium bottled water, Nestlé Pure Life and Nestlé Pure Life Protect.

The unveiling of the new packaging took place in Lagos on 28 January and was witnessed by the general public, major distributors and retailers of the company and the company’s support staff.

Speaking at the event, Gloria Nwabuike, Marketing Manager, Nestlé Waters Nigeria, explained that the bottles have been rebranded to highlight the new logo that carries a significant and relevant environmental message from the brand.

Coca-Cola Nigeria unveils Limca Cola

Coca-Cola Nigeria Limited has announced the introduction of Limca Cola, a new variant launched to expand the foot print of the Limca brand.

According to a statement issued by the company, Limca Cola is a good quality sparkling soft drink with a unique cola taste to deliver refreshment to consumers on-the-go.

Speaking on the new product, Franchise Marketing Manager, Coca-Cola Nigeria, Gbolahan Sanni, said: “We are excited about the introduction of Limca Cola to the Nigerian market. Limca Cola is a reaffirmation of our commitment to innovatively refreshing our consumers on-the-go with a good quality product, unique cola taste at an affordable price.”

Golden Guinea Breweries nears completion of factory overhaul

Golden Guinea Breweries Plc, the Umuahia-based brewer which has not been active for over 16 years following a fire outbreak at its facilities in 2003 leading to closure of the business said it is nearing completion of retooling work that will enable it restart production.

In a statement released to the Nigerian Stock Exchange (NSE) on Thursday, the once brewer of Eagle stout, Bergedorf lager and Golden Guinea lager said it is optimistic of returning to full operations on or before the second quarter of 2019.

SONA Group Opens Water treatment Plant

The Sona Group of Industries has inaugurated effluent treatment plants in Sango -Ota, Ogun State. The treatment plants were inaugurated in four of subsidiary units of Sona Group, namely: Euro Global Foods and Distilleries Limited, Sona Agro Allied Foods Limited, Food, Agro and Allied Industries Limited and Shongai Packaging Industries Limited were also inaugurated.

The treatment plants are expected to treat the wastewater produced by the industries, which are undesirable by- products before release into the environment.

Union hails FG for addressing high number of ‘Expatriates’

The National Union of Food, Beverage and Tobacco Employees (NUFBTE) has commended the Federal Government for tackling the influx of expatriates in the country.

NUFBTE President, Comrade Lateef Oyelekan, was quoted as saying that prior to the election of President Muhammadu Buhari, the country was bedeviled with influx of foreigners, who disguised as expatriates to corner the scanty jobs meant for Nigerians, thereby making more competent Nigerians second class citizens.