Monthly Archives: February 2016

FrieslandCampina WAMCO tops Best CSR Company in West Africa

FrieslandCampina WAMCO, the leading dairy maker in Nigeria known for its iconic brands such as Peak milk, Three Crowns milk, among others, has been named the company with the best CSR programmes in West Africa (2015) by Capital Finance International (, a London-based global print journal and online resource reporting on business, economics and finance.

Chi Unveils 315ml Hollandia ‘Gogurt’ Pack

Chi Limited, the company behind Chivita juice drinks has introduced a new handy yogurt pack called Hollandia Gogurt “Grab n’ Go” packs in what the company said is in response to commuter’s needs.

According to the company, it is a uniquely handy pack filled with Hollandia Yogurt for easy accessibility for consumers in traffic.

The idea is to give consumers a handy pack that can be consumed while on the go. Also, the product price has been set at N100, making it affordable. Moreover, the pack is designed in a dynamic shape with a fancy cap, making it trendy and attractive for the youths.

Coca-Cola Nigeria quietly launches new 60cl bottle

The battle in the carbonated soft drinks (CSD) market is about to get more intense, as Coca-Cola, the leading soft drinks company in Nigeria by market size has quietly introduced a new 60cl bottle of its famed brand to the market.

The new 60cl Coke bottle, which comes in a white cap contains 20% more fizz and is a direct challenge to the new entrant in the market, BIG Cola, from AJEAST Nigeria Ltd, a subsidiary of AJE Group of Peru, which made its foray into the Nigerian market in October 2015, with offers of 65cl bottle of its cola brand for N100, when others were offering 50cl for the same price.

Frigoglass cancels deal to sell glass business to GZ Industries


Frigoglass, the Greek refrigeration company has terminated an agreement to sell its 70% stake in Beta Glass Plc to GZ Industries Ltd, after the prospective buyer failed to secure the necessary financing for the deal.

Frigoglass last year reached an agreement to sell its $225m stake in Beta Glass, a glass container business in Nigeria and Dubai and the complementary plastic crates and metal crowns operations to GZ Industries. The agreement was expected to be finalized in the current quarter.

AB InBev’s fourth Quarter revenue decline 11%, amid market challenges in the U.S., currency headwinds elsewhere

Anheuser-Busch InBev (AB InBev), the world’s largest brewer, released its 2015 full year financial results on Thursday reporting 11% revenue decline in the fourth quarter. The Belgium-based brewer reported $10.72 billion revenue over the period, from $12 billion. Net profit also fell 10% to $2.29 billion for the quarter, down from $2.53 billion a year earlier.

Heineken looks-on with keen interest amid currency turmoil in Nigeria

Heineken is observing with keen interest the Naira headwinds, which makes it difficult for the company to take money out of the country.

A spokesperson for Heineken, said that currency repatriation in Nigeria, the company’s second biggest by profit contribution, was getting “more difficult but is not impossible.”

Analysts express concern over CCHBC’s 2015 earnings, amid currency headwinds in Nigeria

While Coca-Cola HBC’s (CCHBC) 2015 full year financial results showed a remarkable improvement in terms of volume growth, 3% and 16% rise in operating profits,  revenue for the company declined 2.5% to €6.35bn ($7bn), while profits also fell 4.9% to €280.3m.

USAID, Coca-Cola Foundation partner to fund $2m water project in Nigeria

United States Agency for International Development (USAID) mission office in Nigeria and Coca-Cola Africa Foundation have launched the third phase of the Water and Development Alliance (WADA) programme for safe water and hygiene facilities in public schools and hospitals.

At the signing of the Memorandum of Understanding for WADA III programme, in Lagos, USAID Director to Nigeria, Michael T. Harvey, said: “Today, we are consolidating a special partnership, one in which a private firm has joined with a U.S. government agency to contribute to a priority set by the government of Nigeria.”

Moderate alcohol consumption may lower risk of heart failure, a new study says

A new study by researchers at The Norwegian University of Science and Technology, and the Karolinska Institute in Stockholm, Sweden, examined the effects of alcohol on the heart.

The first study, published in the Journal of Internal Medicine, looked at how alcohol affects the risk of heart failure.

Coca-Cola HBC reports 2015 revenue and profit decline on currency headwinds

Coca-Cola Hellenic (HBC) AG, the bottler of Coca-Cola products in 28 countries, including Nigeria reported a 2.5% revenue decline in 2015 full year to €6.35bn ($7bn). Profits also fell 4.9% to €280.3m for the year despite volume growth.

The company said currency devaluations reduced revenue by 5.1 percentage points.