Monthly Archives: March 2016

Nigerian Breweries wins NSE Most Compliant Firm Award for 2015

Nigerian Breweries Plc has been picked as the winner of the Nigerian Stock Exchange (NSE) Chief Executive Officer’s Distinguished Award for Compliance in 2015.

The coveted award also known as the ‘Most Compliant Listed Firm Award’ is presented by the NSE to a company that shows the highest degree of compliance with the rules and regulations governing the disclosure obligations of listed companies to the exchange in a given year. According to the NSE, Nigerian Breweries Plc again demonstrated its recognition for the importance of corporate governance in 2015 to win the highly desired award.

Food & Beverage sector set to lay-off 3m workers over forex crisis, says organised labour

The nation’s organized labour union warned on Wednesday of an impending job loss crisis of over three million workers in the food, beverage and tobacco sector of the economy over inability of companies in the sector to obtain foreign exchange to import needed raw materials for their operations.

Intafact Beverages kicks-off SABMiller Hero’s Foundation Programme

The Anambra State Government has expressed its gratitude to Onitsha-based Intafact Beverages Limited, a subsidiary of SABMiller, the world’s number two beer company by volume and sales, for establishing the SABMiller Hero’s Foundation Kickstart Programme.

Speaking at the official kick-off of the programme, the Anambra State Commissioner for Youth Entrepreneurship and Sports Development, Mr. Tony Nnachetta reiterated the state government’s readiness to partner with Intafact Beverages in meeting the programme’s objectives.

FG commissions cow milk processing plant in Yola

The Federal government, in partnership with a Fulani community and Modibbo Adama University of Technology (MAUTECH) have opened a milk collection and processing facility in Yola State.

The idea was aimed at reducing the dependence on foreign milk products, which experts said cost the country N75bn per year.

GSK Consumer Nigeria gets dragged down by tough macro-economic environment, as profits decline 48.3% in Full Year

GlaxoSmithKline Consumer Nigeria Plc (GSK), makers of beverage brands – Ribena, Lucozade; and Wellness and Oral healthcare products has released its full year 2015 financials, showing a 48.3% net profit decline to N954m, from N1.84bn in the previous year.

AB InBev sells €13.25bn Euro-Bond notes, an all-time record to help pay for SABMiller acquisition

Anheuser-Busch InBev (AB InBev), the Belgian brewer known for its Budweiser and Stella Artois brands, among others, has sold a record amount of corporate euro denominated bonds to help finance the acquisition of SABMiller.

The world’s largest brewer issued a whopping €13.25bn ($15bn) of notes in six tranches, according to records compiled by Bloomberg. This follows a $46bn bond sale in January, which was also to raise funds for the $108bn takeover of SABMiller.

Guinness Nigeria unveils Orijin Zero, a variant of its most commercially successful drink, Orijin

Guinness Nigeria Plc has introduced a new drink, Orijin Zero, which is a non-alcoholic soft drink and a variant of one of its most commercially successful alcohol blend, Orijin.

Orijin Zero, which goes with the tagline “Rethink your soft drink,” is a uniquely non-alcoholic blend made from 100% Natural herb and fruit extracts with a satisfying bittersweet natural taste.

Nestle Nigeria’s net profit rise 7% for full Year 2015 amid persistent headwinds

Nestle Nigeria, makers of a wide range of food and beverage products such as Milo, Cerelac, Nescafe coffee, among others released its full year 2015 financial results today showing a 7% rise in net profit to N23.7bn, from N22.2bn in 2014.

PepsiCo set to unveil new “Say it With Pepsi” Moji Campaign on products

PepsiCo, the giant soft drink company behind such iconic brands like Pepsi, Mountain Dew, Diet Pepsi and others is set to launch an emoji-clad packaging campaign in more than 100 countries this year, with the hopes that people will be encouraged to buy their drinks, as well as promote them on social media.

So far there has been no word yet from Seven-Up Bottling Company, the local PepsiCo affiliate in Nigeria, on whether the campaign would be coming to Nigeria.

Promasidor Nigeria seeks $25m loan from IFC to modernize plant

Promasidor Nigeria Limited, makers of Cowbell, Loya and Miksi powdered milk, among others has applied for a $25m loan from the International Finance Corporation (IFC), a member of the World Bank Group to upgrade its Lagos plant, which would start operation in 2017.