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 »

Category Archives: Coffee & Tea

Kano State Government spends N208m to empower Tea Sellers

Kano State Governor, Abdullahi Ganduje said that his administration has spent N208 million ($573,000) to empower 5,200 tea sellers in the state.

The announcement was made on Saturday during an empowerment programme at the Government House, Kano.

The governor said that the beneficiaries were selected from 484 wards in the 44 local government areas in the state.

Nestle Nigeria commits to increasing use of local raw materials

Nestle Nigeria Plc, has reiterated its commitment to growing the economy by simplifying its ingredients list and using more local raw materials.

The firm has also set a goal to source only eggs from cage-free hens for all its food products globally by 2025.

Cost savings initiatives, operating efficiencies boost Nestle Nigeria’s nine months profit

Nestle Nigeria Plc, one of the country’s largest Fast Moving Consumer Goods Companies (FMCG) said on Monday that revenue for the nine months to the end of September grew 43% to ₦185bn ($510 million), from ₦129bn ($355 million) in the same period last year.

The company behind such brands as Milo Cocoa drink, Nescafe Coffee, and Golden Morn among others said that the boost in sales was fueled by a strong consumer and distribution-led activities as well as benefits from last year’s price increases.

Nestle Nigeria appoints Jagdish Kumar Singla as new Finance & Control Director

Nestle Nigeria Plc has announced the appointment of Mr. Jagdish Kumar Singla to the position of Finance & Control Director effective 1 January 2018.

Mr. Singla will be taking over from Mr. Syed Saiful Islam, the current Finance & Control Director who is being transferred to Nestle Pakistan with effect from 1 January 2018.

Mr. Singla who has been the Country Controller of Nestle Sri Lanka since 2014 joined Nestle India in 1990 and served in various roles at the company’s Moga Factory and in Management Accounting at Nestle’s Head Office in Switzerland. He also worked as Nestle’s Factory Controller in Shuangcheng, China from 1997 and later as Business Controller for Nestle Milks and Nutrition for Greater China Region.

FBRA urges sectoral partnership to advance industrial waste recycling

The Food and Beverage Recycling Alliance (FBRA) has called on stakeholders in different industries to help set up sector specific alliances to assist with the recovery and recycling of waste items in their respective packaging streams.

According to FBRA, it will ensure the success of the Extended Producer Responsibility (EPR) policy of the Federal Government.

Nestle Nigeria reaffirms commitment to youth entrepreneurship as it marks International Youth Day

Nestle Nigeria Plc said in a statement on Sunday that it is committed to providing support to young people by fostering youth entrepreneurship and helping the talented ones through training and job opportunities.

The message was conveyed by the company’s Corporate Communications and Public Affairs Manager, Victoria Uwadoka, on Sunday to mark this year’s International Youth Day on 12th August. Uwadoka in her statement said the company wanted to ensure the youths gained skills that would enable them contribute positively towards building peace in the society.

Nestle Nigeria’s half-year profit boosted by revenue growth, lower finance cost

Nestle Nigeria Plc, reported a nearly 3000% increase in profits for the first-half of 2017. Net profit rose to N16.5bn from N535m in 2016.

The company which makes products such as Milo cocoa drink and Nescafe coffee, among others said that profit was boosted by a 54% surge in revenue to N121.9bn, from N80bn in the previous year.

Abraaj Group to acquire Kenya’s Java House Coffee Chain

Dubai-based Abraaj Group, an emerging markets equity firm with extensive investments in Africa has agreed to acquire Java House, a coffee chain based in Nairobi, Kenya.

Java House Group was established in 1999 by Mr. Kevin Ashley who later sold 90% stake to Emerging Capital Partners (ECP) in 2012 as he sought to raise additional capital to expand. The chain has since grown from 13 outlets in Nairobi to 60 outlets in 10 cities in Kenya, Uganda and Rwanda.

Nestle Nigeria mulls new investments to boost growth

Nestle Nigeria Plc, said it is weighing new investment proposals to bolster its nationwide production and distribution networks to drive growth.

The company made this known at its Annual General Meeting (AGM), which held recently in Lagos. Speaking at the event, the chairman of Nestle Nigeria Plc, Mr. David Ifezulike told shareholders that the company was considering a lot of investment proposals that should strengthen its operations.

Nestle Nigeria gains momentum as Q1 sales surge 69%

Nestle Nigeria Plc, appears to have the worse behind it as first quarter results showed a 69% increase in sales to N61bn, from N36bn in the same period last year.

The company which makes Milo, Nescafé coffee, among others saw a 32% jump in gross profit despite a skyrocketing cost of sales, which grew 105% to N38bn, from N18bn, fueled by inflation and a weakened naira.