BUSINESS

Financial Inclusion: Middle East & Africa

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These regions contain some of the world’s most underbanked populations but technology is fronting the drive for change. Plus: interview with the World Bank on expanding financial services; cash culture prevails in north Africa; fintech and financial inclusion in Iraq; Kenya pushes to shift mobile money to the next levelPowered by WPeMatico

Coca-Cola post strong Q1 results, driven by innovation and revenue management initiatives

BUSINESS
The Coca-Cola Company said on Tuesday that first quarter revenue grew by 5% to $8.02bn (€6.17bn) from $7.6bn in 2018. The company noted that concentrate sales growth of 1% and price mix growth of 5% in the first quarter were driven by consumer-centric innovation and solid revenue management initiatives in the marketplace. Commenting on the results, the CEO of The Coca-Cola, James Quincey, said: “We’re encouraged by our first quarter results as our disciplined growth strategies continue to deliver strong underlying performance. “We remain confident in our full year guidance as we continue to make progress on our transformation as a consumer-centric total beverage company.” The company said it sold more water and soft drinks, including its namesake soda and Coke Zero in the quarter. Total vo
Former Barcelona captain Puyol wraps up his Nigeria Tour amid fanfare

Former Barcelona captain Puyol wraps up his Nigeria Tour amid fanfare

BUSINESS
The three-day UEFA Championship tour which brought former Barcelona defender Carles Puyol to Nigeria came to an end on Thursday, 18th with a lush party at the Cubana, Lagos. The event attracted celebrities who came out to honour Puyol, the Spanish football icon and former captain of the Barcelona Football Club, who had been in Nigeria since the 16th for the coveted UEFA Champions League Tour presented by Heineken. Expectedly, the guests had a thirst-quenching fill of Heineken, ice-cold and crisp after a long tour-filled day with the coveted trophy beneath the hot weather Lagos skyline. With the Heineken Limited Edition bottles tucked away in several of the luxury bars around town, the night of football frenzy is the climax to the events of the past three days, which included the State Hous...

PepsiCo hails a strong start to the year, thanks to boost from its snack business

BUSINESS
PepsiCo Inc, reported sales growth of 2.5% in the first three months of the year to $12.9bn, thanks in part to strong revenue growth in its Frito-Lay North America snack business, which posted 5.47% sales rise. The company’s North American Beverages unit also helped fuel the quarterly growth with a 2.15% sales lift. Commenting on the results, PepsiCo Chairman & CEO, Ramon Laguarta, said: “We are pleased with our results for the first quarter. “Frito-Lay North America and each of our international divisions delivered particularly strong operating performance, and PepsiCo Beverages North America generated sequential quarterly net revenue acceleration.” The company benefited from price hikes for some of its growth. For instance, while volumes for its North America Beverages business dippe

Coca-Cola Nigeria says Private Public Partnerships key to realising MDG

BUSINESS
Coca-Cola Nigeria said on Monday that private public partnership (PPP) was crucial to the realisation of the United Nations (UN) Sustainable Development Goals (SDGs) in the country. This was made known by the Director, Public Affairs and Communications, Coca-Cola West Africa Business Unit, Clem Ugorji, who spoke at the Federal Medical Centre (FMC), Ebute Metta, Lagos during the donation of medical equipment. He said such intervention will not only promote mother/child health but will reduce drastically their mortality rates. Ugorji, said that the Safe Birth Initiative (SBI), in collaboration with Medshare International, a U.S.-based group, included the provision of critical medical equipment in the delivery room, training of para-medical engineers to ensure that machines responded to emerg...