Egyptian Government has begun the process of implementing higher tariffs on 320 commodities including fruit juices and ice cream with the aim to reduce imports and boost local production, the Finance Ministry said.
The Government of President Abdel Fattah al-sisi passed a decree to increase tariffs with the objective of creating the necessary climate to attract investment into the country and give a strong boost toward increasing productivity, as well as cutting imports.
Soft drinks giant Coca-Cola announced on Wednesday it has agreed to buy SABMiller’s 54.5% stake in Coca-Cola Beverages Africa (CCBA) from AB InBev for $3.15bn.
Coca-Cola and AB InBev said in a joint statement that they had agreed to the transfer of AB InBev’s 54.5% stake in CCBA to The Coca-Cola Company (TCCC). The stake was formerly owned by SABMiller before the mega beer acquisition that saw SAB merge with AB InBev.
Intafact Hero’s Foundation, the Corporate Social Investment (CSI) initiative of Intafact Beverages Limited, makers of Hero Lager, has rewarded young aspiring entrepreneurs that took part in its just concluded Hero’s Foundation Kickstart Programme with the sum of N50m.
The Award was held in Onitsha, Anambra State on 9th December 2016.
FrieslandCampina WAMCO, makers of Peak Milk, Three Crowns Milk, Friso, among others has donated 5,000 cartons of peak milk to children trapped in Internally Displaced Persons camps (IDPs) through the ‘Get Involved’ Campaign set up by Nigeria’s First Lady, Mrs. Aisha Buhari.
Speaking at the presentation of the milk cartons to Mrs. Buhari, Corporate Affairs Director, FrieslandCampina WAMCO, Ore Famurewa, explained that the donation was aimed at improving the nutritional status of vulnerable children living in the IDP camps in Northeast Nigeria.
Nigerian Breweries Plc (NB) has donated a fully built and furnished school library to Randle Avenue Primary School, in Surulere Local Government Area of Lagos State.
The brewer partnered with the Rotary Club of Lagos in fully equipping the library and sanitary facility at the school.
Anheuser-Busch InBev NV has agreed to sell SABMiller’s stake in South African spirits maker Distell Group Limited to the country’s largest Pension administrator – The Public Investment Corp (PIC) for an undisclosed amount.
According to Wednesday’s closing price on the Johannesburg Stock Exchange (JSE), the 26.4% stake is said to be worth about R8.92bn rand ($640m).
Promasidor Nigeria Limited, makers of Cowbell and Loya milk, among others recently held its Distributors Forum in South Africa, and its Nigerian distributors were flown to Cape Town for the event dubbed – ‘Promasidor Distributors Forum’.
Nigerian Bottling Company (NBC), bottlers of the famed Coca-Cola brand in Nigeria stated its commitment to sustained investment in the country as it celebrated its 65th Year Anniversary.
The assurance was made on 7th December, at an event with stakeholders marking the company’s anniversary. The engagement was part of various events organized by the company to commemorate its historic milestone and themed, ‘Celebrating a Tradition of Excellence’.
PepsiCo’s CEO and Chairman Indra Nooyi is said to be joining U.S. Presedent-elect Donald Trump’s new Economic Advisory Team, less than a month after Trump supporters began threatening to boycott the soda giant’s drinks following some comments she allegedly made at a conference after the U.S. election.
Trump’s transition team announced on Wednesday that Nooyi will be part of the incoming U.S. President’s Strategic and Policy Forum.
In a Dealbook conference held just after the U.S. elections, Nooyi was said to have commented:
Anheuser-Busch InBev (AB InBev), which listed on the Johannesburg Stock Exchange (JSE) in early January, has seen its share price fall by as much as 27%, according to a published report in the South African Business Day.
Removing the effects of currency fluctuations, the share price is down 15% in dollar terms.
