News

Intafact Hero’s Foundation Rewards new set of budding Entrepreneurs

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
The Intafact Hero’s Foundation Kickstart Programme; a CSI initiative of Intafact Beverages Limited has just concluded its 2nd award ceremony which rewarded 40 budding entrepreneurs’ with the sum of eighty two million naira. Now in its second year, the Intafact Hero’s Foundation continues to promote and instill a culture of entrepreneurship among Nigerian youths to enable them reach their full potentials via the intensive training, seed capital and mentoring provided through its Kickstart programme. Whilst welcoming guests to the award ceremony, the Chairman of Intafact Hero’s Foundation, His Majesty, Nnaemeka Achebe, the Obi of Onitsha noted that “through Intafact Hero’s Foundation- CSI programme, it has empowered Nigerian youths to contribute meaningfully to the economic growth of Nigeria

Coca-Cola Nigeria to spend $600 million on new products by 2020

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Coca-Cola Nigeria Limited said it plans to invest $600 million by 2020 to boost sales, as part of the parent company’s global strategy to offer more consumer likeable products that goes beyond its carbonated soft drinks. The Nigerian subsidiary of the Atlanta-based soft drinks maker said it wants to expand its product offerings to include flavoured and condensed milk, ice tea and bottled water to meet demand, said Peter Njonjo, the President of Coca-Cola West Africa, in an interview with Bloomberg Business in Lagos. “Our objective is to provide whatever beverages you need across your life stages,” he said. The $600m is part of an ambitious programme by the Atlanta-based Coke to invest $17bn in Africa by 2020. Coca-Cola new Chief Executive officer, James Quincey has said the company needs t

Nigerian Breweries – Financial Market Forum Wrap-Up

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Nigerian Breweries Plc, the nation’s largest brewer held its ‘2017 Financial Market Forum’ on 14th September 2017 at the company’s Iganmu-Lagos facility, where the new CEO Johan Doyer and Finance Director, Mark Rutten held a briefing of the company’s business and gave analysts a tour of the Iganmu plant. The company posted a 15% revenue growth in the first-half of 2017, driven partly by earlier price increases. Beer volumes in the period declined mid-single digit. The brewer said it has implemented further marginal price increases in the N220 to N230 price range for select brands at the start of the third quarter of 2017 with the aim boosting margins amidst local input cost pressures. Volumes and market share remain under pressure, the company said, a trend that began two years ago as cons

Royal FrieslandCampina announces leadership change; CEO Roelof Joosten to step down next year

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Netherlands-based Royal FrieslandCampina N.V., one of the world’s leading dairy firms and the parent company of FreislandCampina WAMCO, announced on Wednesday that its Chief Executive Officer (CEO), Roelof Joosten will step down on 1 January 2018, and to be succeeded by Hein Schumacher, the company’s current Chief Financial Officer (CFO). Schumacher became a member of the Executive Board and Chief Financial Officer (CFO) of Royal FrieslandCampina in January 2015. Prior to this, he worked at Heinz in both financial and general management positions in the Netherlands, the United States, the UK and China. The company said that Schumacher’s leadership skills, experience and vision will further strengthen the company both operationally and commercially and so generate more value for the member

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

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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