Heineken Nine months sales boosted by emerging markets

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Amsterdam-based Heineken N.V. reported its nine months results to the end of September on Wednesday, with revenue climbing 2.5%, driven by growth in all regions except Europe and the United States. The company said that beer volume grew 3.4%, driven by growths in Brazil, South Africa, Russia and Mexico. Net profit for the period rose 19.94% to €1.49bn ($1.75bn) compared to €1.239bn recorded in the same period last year when the company had to take an asset impairment charge of €233m in the Democratic Republic of Congo (DRC). Regionally, Africa, Middle East & Eastern Europe saw 8.8% volume growth, driven by double-digit volume gains in South Africa and Ethiopia, which offset declines of mid-single digit in Nigeria. Heineken said that underlying trading conditions remain difficult in Nigeria

Coca-Cola to spend $90m in Kenya to broaden product offerings

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
The Coca-Cola Company (TCCC) plans to invest up to $90-million in Kenya over the three years through 2018 to increase its product offerings in the region’s biggest economy, the soft drinks maker said on Tuesday. Coca-Cola, which is the leader in the Kenyan soda market with brands like Coke and Fanta, has committed to invest $17-billion in Africa as a whole since 2014, double what was invested in the continent a decade before, the company said. The group, which faces growing competition in Kenya from other soft drinks producers like SABMiller and PepsiCo, said on Tuesday it will produce a wider range of soft drinks in the country from 2018 but did not give details. “It brings the total investment by The Coca-Cola Company in Kenya, between 2016 and 2018, to $90-million,” Coca-Cola said in a

Reps, agency heads, NBC disagree on additives in soft drinks

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
The National Agency for Food and Drug Administration and Control (NAFDAC), said on Monday that it does not have the capacity to carry out tests on all foods and drinks produced or imported into the country in order to certify them healthy for human consumption before their release into the market. The agency also said that some additives and preservatives such as benzoic acid, sunset yellow and others, used in drinks produced or imported into the country were safe for human consumption. The agency made the confirmations on the first day of a public hearing by an ad hoc committee of the Federal House of Representatives looking into allegations of harmful additives found in soft drinks sold in the country. The committee’s work was prompted by the introduction of a motion by a member, Hon Rot