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AB InBev to increase equity stake in Nigerian operation post-merger

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Anheuser-Busch InBev, the Belgian brewer which controls three independently operated breweries in Nigeria will increase its majority equity stake in International Breweries Plc (“IBPlc”) to 75.1% following the completion of the ongoing merger of its Nigerian operations. AB InBev announced in early June that the Board of Directors of its three indirect Nigerian subsidiaries – IBPlc, Intafact Beverages Limited and Pabod Breweries Limited had agreed to explore a merger of their operations subject to regulatory and shareholder approvals. The firm followed up in August by announcing it had secured the needed regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock exchange (“NSE”) to merge its operations in Nigeria. According to a report by the Na

NBC receives Nigeria Safety Awards for Excellence

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Nigerian Bottling Company (NBC), the bottler of Coca-Cola products in Nigeria has received the prestigious Nigeria Safety Awards for Excellence in recognition of the company’s continuous compliance to standards in occupational health and safety. The award presentation ceremony took place at the Oriental Hotel, Victoria Island, Lagos, amidst selected and credible national health and safety regulatory governmental organisations, professional bodies and stakeholders in matters relating to health and safety of employees in the workplace. Commenting on the award, Legal, Public Affairs and Communications Director, Sade Morgan, reiterated that, “At NBC, utmost priority is given to occupational health and safety in all aspect of our operation. At the core of our integrated annual business plan is

Zimbabwe mulls restricting alcohol sales to curb abuse

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The Government of Zimbabwe is considering restricting the sale of alcohol to certain days, hours and to pregnant women. The Sunday Mail, a Zimbabwe newspaper reported that the policy proposes to bar the sale of alcohol during the week, regulate the number of hours to sell the products and provide guidelines on the consumption of alcohol during special events like parties and weddings on the basis of the venue in which they are held. The policy also proposes to prosecute vehicle drivers found with blood alcohol concentration of above 0.08 per 100ml and merchants found selling the product to pregnant women. The initiative also proposes that any alcohol advertisement should be done not less than 100 metres from a road intersection, school, clinic, hospital, church and old people’s homes. The

Mexico’s FEMSA to sell stake in Heineken

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Mexico’s FEMSA announced on Monday it would sell 5% of a 20% stake it holds in Dutch brewer Heineken NV. The stake is said to be worth about €2.5bn ($3bn). Heineken’s relationship with FEMSA began in 2010 when the Dutch brewer acquired the beer business of FEMSA which gave the Mexican firm a 20% stake in Heineken. L’Arche Green NV, the company through which the Heineken family controls Heineken Holding NV, said it would acquire €200m of the €2.5bn in shares FEMSA was putting up for sale. “The participation of L’Arche Green NV in the share offering by FEMSA underlines the long-term commitment of the Heineken family towards the Heineken Company,” the company said in a statement. FEMSA and Heineken fell out in July following the Dutch brewer’s acquisition of Japanese brewer Kirin’s Brazil bee

International Breweries to change its financial Year-end to December

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International Breweries Plc (“IBPlc”) announced on Wednesday that it would be changing its financial year-end from 31 March to 31 December of every year. In a statement released to the Nigerian Stock Exchange, the firm said that the first application would be for a nine months period ending 31 December, 2017. The Ilesha-based brewer announced in early June that it was exploring merging operations with its sister companies, Intafact Beverages Limited based in Onitsha and Pabod Breweries Limited based in Port Harcourt. All three companies are indirect subsidiaries of Anheuser-Busch InBev inherited from the merger with SABMiller. On August 29, IBPlc announced that it had received all regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Excha

Agric Minister commends FC WAMCO as biggest investor in local milk production in Nigeria

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The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has donated a portable motorized milking machine to FrieslandCampina WAMCO, while lauding the company as the biggest investor in Nigeria’s dairy sector. The machine has a capacity to milk 50 cows a day. Chief Ogbeh made the symbolic donation while declaring open the National Livestock Conference organized by the Federal Ministry of Agriculture and Rural Development (FMARD) in collaboration with the Food and Agriculture Organization (FAO) taking place at the International Conference Centre, Abuja. The objective of the conference, which runs from September 11-15, 2017 is to proffer solutions to major challenges of livestock production in the country, including farmer-herdsmen clashes. According to the Minister, the donation

Guinness Nigeria Makes Four New Executive-Level Appointments

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Guinness Nigeria Plc has announced the appointment of four directors, as the foremost brewer re-energizes to optimize performance and execute its strategic growth plans. The appointments have taken effect. The appointees are Bola Olajomi-Otubu, Human Resources Director; Colman Hanna, Supply Chain Director; Adenike Adebola, Marketing and Innovation Director (Guinness and Spirits) and Jody Samuels-Ike, Marketing and Innovation Director (Innovation, Lager, Consumer Connections and APNADS). According to Guinness Nigeria, the appointees bring a solid combination of profound commercial and operational experience which would be instrumental in further repositioning the company as it navigates the current economic challenges in Nigeria to achieve sturdy growth and expansion. “I am delighted to wel

Guinness Nigeria appoints Mark Sandys to its Board as Non-Executive Director

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Guinness Nigeria Plc, on Monday announced the appointment of Mark Sandys to its Board as a Non-Executive Director effective 30th August 2017. Sandys, a long-serving executive of Diageo Plc with over 20 years’ experience has an MA degree in English and French from Balliol College, Oxford University in 1996. In the over 19 years he has been with Diageo, he has served as a Senior Marketing Executive in different capacities including as Global Marketing Strategy & Innovation Director Baileys, Marketing & Innovation Director, Diageo Russia & Eastern Europe (based in Moscow), Category Director, Whiskey & Reserve, Asia Pacific. He is currently the Global Head of Beer, Baileys & Smirnoff for Diageo and resides in Ireland.Powered by WPeMatico

Beta Glass names Zulikat Wuraola Abiola to board as Non-Executive Director

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Beta Glass Plc, announced on Wednesday the appointment of Dr. Zulikat Wuraola Abiola to its board as an independent Non-Executive Director with effect from 6th July 2017. Dr. Abiola is the Managing Director of Management Transformation Limited (MTL), a management consultancy firm based in Lagos. In her role at MTL which spans nearly two decades, she overseas business strategy for clients, business development, leadership, governance, organizational development, risk management and public sector policy consulting. Prior to her work at MTL, she worked for McKinsey & Co in New York and London in the areas of Strategy and Organisation. She is also a Senior Lecturer (Adjunct) – Organizational Development at the University of Lagos, Department of Business Administration and serves as the lead MT

NBC pledges commitment to government’s resolve to reduce unemployment

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Nigerian Bottling Company (“NBC”), the bottler of Coca-Cola products in Nigeria has said it remains committed to supporting government’s efforts to reducing unemployment in the country. The firm which is a subsidiary of Coca-Cola Hellenic Bottling Company (CCHBC) and the largest soft drinks company in Nigeria recently unveiled a management trainee programme. NBC said the programme is designed to select best of young talents to play key roles in the company’s future growth, adding that this is in line with Coca-Cola HBC strategic focus on talent acquisition and development of its 2017 MTP. Director of Human Resources, NBC, Mrs. Grace Omo-Lamai said, NBC remains committed to supporting government’s drive to reducing unemployment in the country hence the introduction of this programme. Sha sa