Monthly Archives: June 2019

CHI’s Hollandia Foundation donates milk to children at IDP Camp

Hollandia No Kid Hungry Foundation, the Corporate Social Responsibility (CSR) arm of CHI Limited, makers of Hollandia yoghurt and other milk brands, has donated dairy products to more than 500 vulnerable children at the Bogije Internally Displaced Person’s camp in Ibeju-Lekki, Lagos State.

The organization said it is determined to fight child hunger and malnutrition in Nigeria, hence its donation.

AB InBev dominates Top 25 Beer brands with Budweiser topping the list

AB InBev has again dominated the Top 25 Beer brand list as the World’s Most Valuable Beer Brands, with Budweiser emerging as the global new King of Beers for the first time.

According to Brand Finance, the authors of the report, Budweiser surpassed its lighter cousin, Bud Light to emerge as the top brand, with 6% brand value growth to $7.5bn, thanks in part to the immense success of its global sponsorship campaign of the 2018 FIFA World Cup.

NAFDAC impounds adulterated alcoholic wines in Edo

The National Agency for Food and Drug Administration and Control (NAFDAC) has confiscated nearly 90 cartons of fake ‘Fidossi Spunmante’ drinks, a brand of alcoholic wine, without registration number in Edo State.

Mrs Itua Esther, Assistant Director of NAFDAC in Edo disclosed this in an interview with News Agency of Nigeria (NAN) in Benin City on Saturday.

She said said the seizure followed a raid on five shops at Upper Sakponba, Mission Road, Benin on Friday.

Chellarams ends year with N2.8bn loss amid rising cost, competitive pressure

Chellarams Plc, the diversified conglomerate with significant interest in the dairy sector as well as in industrial chemicals and machinery reported a net loss of ₦2.8bn for the full year ending on 31st March 2019.

The maker of Oldenburger, Regal and Real milk brands said that rising costs of sales hurt margins leading to a net loss. Despite a 28% rise in sales to ₦11.2bn, cost of sales skyrocketed by 55% to ₦10.7bn from ₦6.9bn in the previous year leading to a Gross Profit decline of 71% to ₦527m.

International Breweries flags-off 2019 Kickstart Programme

International Breweries Plc., a member of ABInBev brewer, has flagged off the 2019 edition of Kickstart, an innovative youth entrepreneurship programme that empowers young people with the financial muscle and training to implement different entrepreneurial ventures.

The company also unveiled its new foundation, International Breweries Foundation.

Nigerian Breweries launches Series 3 and 4 of Commercial Paper Programme

Nigerian Breweries Plc on Tuesday announced the continuation of its N15bn Commercial Paper Programme with the launch of Series 3 and 4 of the programme which opened on the 24th of June, 2019.

The company noted that while Series 3 would be for a tenor of 91 days, Series 4 would be for 172 days, and the aim is to raise up to N15 billion to support the Company’s short terms funding needs.

Cadbury Nigeria assures shareholders of commitment to creating more value for investors

The Board of Directors of Cadbury Nigeria Plc at its recent Annual General Meeting (AGM) held in Lagos reaffirmed to shareholders of its commitment to creating more value for investors.

The Board restated its commitment to sustaining the company’s dividend policy as shareholders approved the distribution of N471 million as cash dividend for the 2018 business year. Shareholders will receive 25 kobo per share for the 2018 financial year compared to 16 kobo per share in 2017.

FrieslandCampina WAMCO posts 6% revenue growth in 2018

FrieslandCampina WAMCO Nigeria PLC, makers of high quality milk brands, Peak and Three Crowns, reported its full year 2018 results on Tuesday, with revenue growing 6% to N149.2bn compared to N140.1bn it recorded in 2017.

The nation’s largest dairy producer said it faced macroeconomic, infrastructural and security challenges during the the year under review despite slight improvement in the economy from the previous year. It highlighted improvements to include economic growth of 1.93% from 0.82% in 2017, according to the National Bureau of Statistics. Foreign exchange rates also remained stable except for the fourth quarter when the Central Bank of Nigeria (CBN) reduced intervention, forcing manufacturers to source for FX from Investor & Exporter Window, which drove up input costs for manufacturers.

NBC pledges commitment to economic growth at unveiling of sustainability report

The Nigerian Bottling Company Limited (NBC), the sole bottler of Coca-Cola products in Nigeria and a subsidiary of Coca-Cola Hellenic Bottling Company (CCHBC) has restated its commitment to contributing its quota towards a more sustainable society through its social, economic and environmental initiatives.

At the unveiling of the company’s sustainability report, NBCs’ Public Affairs and Communications Director, Ekuma Eze, described the Sustainability Report as a compilation of NBC’s social impact and environmental stewardship in Nigeria over the last few years.

Nestlé partners AGRA to aid agricultural entrepreneurship in Nigeria, other West Africa countries

Nestlé Central and West Africa (CWA) and the Alliance for a Green Revolution in Africa (AGRA) have launched a new initiative called Youth Agripreneurship Development Program (YADIS). The aim is to accelerate the sustainable development of farmer livelihoods and increase the interest and opportunities for youths in farming agri-food businesses in Ghana, Côte d’Ivoire and Nigeria.