Daily Archives: September 5, 2019

Beer Sectoral Group, partners CLI and Thespian Theatre to launch SMASHED programme

The Beer Sectoral Group (BSG) of the Manufacturers Association of Nigeria (MAN) in collaboration with the Collingwood Learning Incorporated and Thespian Theatre, has launched the SMASHED program.

Endorsed by the Federal Ministry of Health and supported by local health and education authorities in the country, the program is aimed at breaking the culture of underage drinking and reducing alcohol-related harm among Nigerian youths.

Currency devaluations and liquidity restrictions hit Distell Group’s full-year earnings

Distell Group, South Africa’s largest spirits, cider and wine producer with operations in several African countries including Nigeria reported a 45.5% drop in earnings for the full year ending on 30th June 2019. Net profit fell to R909.8m rand, from R1.7bn in the previous year.

Despite an 8% revenue growth in the full-year to R26.2bn (US$1.7bn), from R24.2bn in the previous year, sales volume in its home market declined by 0.9%. The drop was blamed on low consumer confidence as disposable income remained subdued and with increased value offerings by competitors, particularly in beer.

Nigerian Breweries responds to allegation it shielded its Dutch CEO accused of corruption

Nigerian Breweries Plc has released a statement in response to a recent publication by two Dutch journalist, which has since been published in the Nigerian media on allegations of corruption within the ranks of the top management of the brewing company and how it protected its former Dutch CEO.