Prices of soft drinks rise amid FX woes, inflationary pressure

Prices of soft drinks are on the rise as the industry continues to grapple with the fallout from macroeconomic headwinds induced by the drop in oil price. Nigerian Bottling Company (NBC), the More »

How brewers are selling beer with folklore

As Nigeria’s recession deepens and consumers pockets are squeezed, majority of those still drinking have shifted their beer preferences to value or low cost brands. Nigerian Breweries Plc, the country’s leading brewer More »

Category Archives: Coffee & Tea

Drinking hot tea nearly doubles risk of cancer, says new report

People who like to drink their tea piping hot have a greater risk of getting oesophageal cancer, according to a new report.

Researchers found that people who like to consume their tea above 60 degrees Celsius and drink about 700ml of tea per day had a 90% risk of oesophageal cancer when compared to those who drank less tea and at cooler temperatures.

The study which was reported on Cable News Network (CNN) and published in the Journal of Cancer looked at more than 50,000 people in Golestan, a province in northeastern Iran.

Multinational firms band together to tackle plastic waste in Sub-Saharan Africa

A group of multinational firms with operations in Africa have come together to launch the Africa Plastics Recycling Alliance in a bid to reduce the problem of plastic waste across the continent.

The companies – Diageo, Unilever, The Coca Cola Company, Nestlé and Promasidor unveiled the alliance at the CEO Africa Forum in Kigali, Rwanda.

FTN Cocoa Processors fights to fend off liquidation

FTN Cocoa Processors Plc is facing threat to its existence as bankruptcy looms.

The once thriving enterprise, which has fallen on hard times in recent years said in a statement released to the Nigerian Stock Exchange (NSE), that it had not held an Annual General Meeting (AGM) or declared dividends over the last two years due to financial difficulties sourcing working capital to procure cocoa beans.

Nestle Nigeria posts 28% profit rise in 2018

Nestle Nigeria Plc, on Wednesday reported a 28% increase in profit for the full year 2018. The food and beverage giant said that profit rose to N43bn from N33.7bn in the previous year, benefiting from a 90% reduction in net finance cost to N900m. In the same period in 2017, finance cost was N8.9bn.

Revenue in the period grew 9% to N266bn from N244bn helping boost operating profit by 9%.

Drinking hibiscus tea may help reduce cardiovascular disease risk, says new study

A team of scientists from Nigeria and Britain studying the effects of consumption of hibiscus tea on cardiovascular health has found significant increase in ‘flow-mediated dilation’ of the brachial artery after participants consumed hibiscus tea after a meal. Flow-mediated dilation refers to the widening of an artery when blood flow increases in that artery, considered a gold standard to measure vascular endothelial function.

Cadbury Nigeria celebrates 30 employees with long service

Cadbury Nigeria Plc has celebrated some of its employees that have been with the company for a long time during its annual Long Service Awards.

The Director, Corporate and Government Affairs, West Africa, Bala Yesufu, said in a statement that Cadbury rewarded 30 employees for their length of service to the organization.

Giving a breakdown of the awardees, Yesufu said that 18 of the employees had spent more than 10 years with the company; nine employees were in the 20 years category; while three awardees had at least 30 years length of service with the firm. He added that 11 out of the 18 awardees in the 10 years category were from the company’s Ondo plant.

Nestle Nigeria reaffirms commitment to responsible sourcing

Nestle Nigeria Plc has reaffirmed it is committed to responsible sourcing at its last Supplier’s Day event held in Lagos.

The event brought together major players who supply raw materials, packaging materials, services and indirect materials to Nestle. It was an opportunity to consolidate existing relationships as well as ensure best practices in sourcing.

FIIRO develops technology to commercially extract Thaumatin, a natural sweetener

The Federal Institute of Industrial Research (FIIRO), Oshodi, Lagos, said it has developed a technology that can aid in the commercial extraction and optimization of high-grade Thaumatin, a low-calorie sweetener and flavor modifier.

The Director-General of FIIRO, Gloria Elemo, made this known at the International Conference on Alternative Sweeteners which held in Lagos recently,themed: “Harnessing of the Economic Potential of Thaumatin (Thaumatococcus danielli) in Africa”.

Unilever agrees to buy GSK Indian Consumer Nutrition Business, including Horlicks

Unilever announced on Monday it has agreed to buy GlaxoSmithKline Consumer Nutrition business in India, including hot malted drink Horlicks.

The deal is expected to cost Unilever €3.3bn ($3.8bn) and will be paid through shares of its Indian unit Hindustan Unilever as well as cash of no more than €639m.

Chivita Ice Tea rebrands

CHI Ice Tea, one of many brands from the stable of CHI Limited, is now Chivita Ice Tea. As part of the rebranding, seen as a strategic move to integrate with the Masterbrand Chivita, the brand handlers say that Chivita Ice Tea now comes in a new product pack that is more aspirational, modern and trendy, with the promise of the same refreshing goodness.