TheNewsGuru

Tag: Coca Cola

  • Coca-Cola pledges $1bn investment in Nigeria as Tinubu promises financial reforms

    Coca-Cola pledges $1bn investment in Nigeria as Tinubu promises financial reforms

    President Bola Tinubu has said his administration’s commitment to creating a robust financial system and a business-friendly economy that will attract more foreign direct investments.

    The President made the commitment on Thursday in Abuja, as the Coca-Cola Company announced plans to invest $1 billion in Nigeria over the next five years.

    The announcement was made at a meeting between the President and the global leadership team of Coca-Cola Company, led by Mr John Murphy, its president and chief financial officer, and the Chairman of Nigerian Bottling Company, Ambassador Segun Apata.

    President Tinubu commended Coca-Cola for its long-standing partnership with Nigeria and for promoting investment opportunities that have employed over 3000 people across nine production facilities.

    ”We are business-friendly, and as I said at my inauguration, we must create an environment of easy-in and easy-out for businesses.

    ”We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that,” he said.

    President Tinubu told the delegation that private sector partnerships, which sustain investments, are central to his government’s far-reaching reforms to improve the business environment.

    ”The size of this country is enormous in Africa, and the consumption capacity of Nigeria is expanding daily,” President Tinubu added while commending the company for scaling up its skill development and community initiatives as part of its corporate social responsibility.

    Presenting an overview of Coca-Cola’s business in Nigeria, Murphy noted that the company generates N320 billion annually through nearly 300,000 customers and contributes almost N90 billion in revenue to the Nigerian government.

    ”We are very proud of the growth of the business over a long period and its impact on the daily lives of many Nigerians.

    ”Beyond the financial impacts, we are also very committed to supporting the communities, and over the last number of years, we’ve had a special focus on several areas in the world of sustainability, water packaging and others, ” he said.

    Mr Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, explained that the company’s confidence in Nigerian government policies had encouraged it to make the $1 billion investment pledge.

    ”Mr President, in your inaugural address, we were very pleased to hear of your invitation for foreign investors to invest and your assurance that foreign businesses can repatriate dividends and profits.

    ”That assurance gives us the confidence to continue our investments. Since 2013, we have invested $ 1.5 billion in Nigeria in capacity expansion, transformation of our supply chain infrastructure capabilities, training and development.

    ”I am very pleased to announce that, with a predictable and enabling environment in place, we plan to invest an additional $1 billion over the next five years.”

    ”

  • Enhancing every snack bite with Fanta’s yummy snacking experience

    Enhancing every snack bite with Fanta’s yummy snacking experience

    With a Fanta in hand lies the promise of its accompanying great taste, bottled with excitement and colorful zest. Through a delightful tasting experience, Fanta is undoubtedly the zing of every snacking moment.

    Every snacking moment begins with a delicious treat, and it’s not just about how much you consume, but the quality of satisfaction that comes from savoring your chosen combination. Enter Fanta, the unrivaled crown jewel of snacking beverages. With its simple yet refreshing composition, Fanta makes snacking moments yummy.

    Picture this: a delightful pairing of Fanta and tantalizing meat pies, savory sausage rolls, delectable egg rolls, crispy chin-chin, or delightful doughnuts – the ultimate snacking moment. Whether it’s a park hang-out with friends, a trip to the movies, or a solo break time, Fanta takes these occasions and transforms them into extraordinary experiences.

    With its age-old taste that has stood the test of time, Fanta’s various flavors add a fun twist to snacking through its range of flavors that cater to diverse consumer choices. The classic orange flavor has become a snacking staple for many decades and the Fanta Apple variant, perfectly infused with the fruity essence of apples, satisfies the taste buds of the younger demographic and provides maximum desired satisfaction.

    The Fanta “Yummy Snacking” campaign goes beyond ordinary moments, creating extraordinary encounters that elevate everyday experiences to something more exceptional. By infusing a burst of vibrancy, flavor, and excitement into every snacking occasion, Fanta redefines the way we indulge in our favorite treats.

    Yusuf Murtala, Marketing Manager, Coca-Cola Nigeria, explained that the campaign seeks to enhance the enjoyment of fun activities “Our Fanta Yummy Snacking campaign is one of many ways to ensure that our consumers get the best of our offerings through great-tasting beverages,” he explained. “We introduce innovative flavors in our products to engender consumer satisfaction as a focal point for every brand”.

    With Fanta, snacking is no longer a mundane routine, it becomes an opportunity to explore a world of endless creativity and joy.

    But it doesn’t stop there. Fanta’s Yummy Snacking Campaign is about more than just taste: It’s about embracing the spirit of fun and adventure. Through the most fun-filled experiences, whether solo or accompanied by family and friends.

  • SBI: Coca-cola, Medshare donate N3bn worth of equipment to Aminu Kano Teaching Hospital

    The Coca-Cola Company and its partner, Medshare, in collaboration with Federal Government, on Friday, donated equipment worth N3 billion to Aminu Kano Teaching Hospital, Kano under the Safe Birth Initiative (SBI).

    The equipment and supplies were formally unveiled and handed over at a special event held at the Hospital in Kano.

    At the handover ceremony, the Managing Director of Coca-Cola Nigeria Limited, Alfred Olajide, said the initiative was aimed at improving maternal outcomes and reducing child mortality incidents.

    “The Safe Birth Initiative is a part of the company’s wellbeing Programme, to support the efforts of the government in reducing the alarming numbers of women and newborns who die from birth-related issues,” he explained.

    Olajide restated Coca-Cola’s commitment to upholding the health and well-being of women as pillars of society.
    Nwamaka Onyemelukwe, Director of Public Affairs and Sustainability said that through the SBI, the company wanted to support the untiring efforts of hard-working doctors, midwives and nurses.

    She said the health workers battled against great odds in public hospitals to manage life-threatening complications affecting mothers and newborns.

    ”The issue of maternal mortality is very important to us. Globally, Coca-Cola has a commitment to women whom we consider pillars of the society and also pillars of our business in Africa, where they have always played a dominant role in our vast distribution and retail network,” she said.

    She said the equipment donated included anaesthetic machines, baby Incubators, ICU beds, Ultrasound and Auto Clev, among others.

    Onyemelukwe added that the company, with its partner, had trained over 20,000 women and youths across the state on a series of transformative skills and knowledge programmes.

    The company also presented certificates to biomedical engineers trained by the company in collaboration with Medshare International USA.

    Prof. Auwal Gajida, the Chairman Medical Advisory Council of the hospital, who pledged judicious use of the items, commended the company for the gesture.

    He said that the gesture would go a long way in improving maternal outcomes and reducing child mortality incidents.

    “I commend and thank the management of Coca-Cola Nigeria Limited for these very wonderful initiatives aimed at strengthening our capacity to address the issue of maternal and newborn mortality in Nigeria.

    “We are here today, receiving loads of medical equipment worth $720,000,” Gajida added.

    Alhaji Ado Kurawa, District Head of Tarauni who represented the Emir of Kano, commended the companies for their efforts in reducing child mortality incidents.

    He urged other companies and corporate organizations to emulate coca-cola.

  • Ronaldo ‘drink water’ push wipes $4B off Coca Cola’s market value

    Ronaldo ‘drink water’ push wipes $4B off Coca Cola’s market value

    Juventus ace Cristiano Ronaldo wiped $4 billion off Coca Cola’s market value after rejecting bottles of the soft drink at Portugal’s pre-match presser on Monday.

    Ronaldo removed the two bottles out of camera shot as he sat down for his Euros media conference before holding up his bottle of water and declaring ‘drink water’.

    The Sun reports Coca-Cola’s share price promptly dropped from $56.10 (£39.80) to $55.22 (£39.19).

    At one point during the day 1.6 per cent of the company’s value had been wiped off – although there was a late recovery, with the price back up to $55.44 (£39.38) at closing.

    Ronaldo, 36, has a famously strict diet and avoids sugary foods, eating clean up to six times a day to maintain his incredible physique while he ages.

    While still at Real Madrid, the club doctor said he had the body of a player ten years younger and could continue playing at the top level into his 40s.

    Ronaldo scored twice for Portugal in last night’s victory over Hungary in Budapest.

  • Coca-Cola cleans $7 billion off Mark Zuckerberg’s fortune

    Coca-Cola cleans $7 billion off Mark Zuckerberg’s fortune

    Mark Zuckerberg, Facebook founder and chief executive officer, has had $7 billion wiped off his fortune after Coca-Cola announced halting all social media advertising for 30 days.

    This follows #StopHateforProfit campaign launched on June 19 in the wake of George Floyd’s death at the hands of Minneapolis police officers and the subsequent worldwide protests.

    It was triggered by Facebook’s refusal to remove a post by President Donald Trump, which threatened the protesters with violence. Trump wrote in his post, “when the looting starts, the shooting starts” and also called the demonstrators “thugs”.

    “There is no place for racism in the world and there is no place for racism on social media. The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days.

    “We will take this time to reassess our advertising policies to determine whether revisions are needed. We also expect greater accountability and transparency from our social media partners,” James Quincey, Chairman and CEO of The Coca-Cola Company

    Zuckerberg’s net wealth is down by $7.21 billion as of Saturday, while Facebook’s share price dropped more than 8% at the close of Friday trading, as the ad boycott snowballs.

    Coca-Cola is the latest brand to back the #StopHateforProfit campaign by American civil rights groups.

    Big corporations, including Unilever, Verizon and many others have over the last week, either paused or halted their advertising with Facebook and other social media platforms as a result.

    Meanwhile, the pressure appears to be working as late on Friday, Zuckerberg announced the company will now label “newsworthy” posts from politicians that break its rules on hate speech or violent speech.

  • Coca Cola acquires Chi Limited

    Coca Cola acquires Chi Limited

    The Cola-Cola Company on Wednesday announced it has completed the acquisition of Chi Limited.

    Coca-Cola in a statement said that it has extended its minority investment in the company to full ownership.

    Recall that in 2016, the company acquired a 40% minority stake in Chi and expressed interest in increasing ownership within three years.

    “Coca-Cola is continuing to evolve as a total beverage company, and Chi’s diverse range of beverages perfectly complements our existing portfolio, enabling us to accelerate expansion into new categories and grow our business in Africa,” said Peter Njonjo, president of the West Africa business unit of Coca-Cola.

    “We will support the Chi management team in building on the company’s remarkable heritage and achievements while using the scale of the Coca-Cola system to replicate their success in more markets across Africa.”

    Chi Limited was founded in Lagos in 1980. It produces juice under the Chivita brand, Caprisonne and value-added dairy under the Hollandia brand.

    In a September 2018 interview, Njonjo had said that the company’s drive to diversify its product range would give it some flexibility.

    “We realise that in certain pack formats you can only go down so low. But once you start looking at pouches and still products, like juice and drinking yoghurts, that allows you to start accessing much lower price points,” he said.

    “Affordability will start becoming a bigger issue in this market than it was in the past. As a company, that is what we need to factor in as we are thinking about the future of our business in Nigeria.”

     

  • Diabetes: Coca-Cola, Pespi, five others agree to limit sugar content of drinks

    Seven major drinks companies including Coca-Cola and PepsiCo will limit the sugar content of drinks they sell in Singapore, as part of the city-state’s campaign to fight diabetes.

    Singapore is one of the first countries in Asia to target sugary drinks, bringing it in line with many Western nations that have sought to mitigate the health risks associated with sugar through measures such as taxes and warning labels.

    Globally, beverage firms have been reworking recipes, racing to cut sugar and introduced more options to cater to increasingly health-conscious consumers.

    On Tuesday, Singapore’s ministry of health said the seven firms had signed an industry pledge to remove by 2020 drinks that contain more than 12 percent sugar from their portfolios of sugar-sweetened beverages.

    As well as Coca-Cola and PepsiCo, the companies include F&N Foods, Malaysia Dairy Industries, Nestle, Pokka and Yeo Hiap Seng.

    “In addition to this industry commitment, Coca-Cola Singapore is making an additional commitment to reduce the sugar content in our portfolio of sugar-sweetened beverages by 10 percent by 2020,” Coca-Cola said in an email to Reuters.

    It said it had been reducing sugar and calories across many of its brands, and offering more new drinks with low sugar content or no added sugar.

    Daily sugar consumption per capita from soft drinks has risen since 2010 to 6.08 grammes in Asia-Pacific in 2016, with Singapore at 11.99 grammes, according to market research firm Euromonitor.

    Consumption has been trending lower in Europe and the United States, but it is still higher than in Asia-Pacific.

    “Governments in Asia are actively promoting healthy consumption, such as Malaysia which launched its Healthier Choices Logo in April 2017,” said Euromonitor International analyst Nathanael Lim.

    “Consumers also have an increasing preference for beverages containing natural ingredients with zero sugar.”

    The World Health Organisation said in 2016 drinking fewer calorific sweet drinks was the best way to curb excessive weight and prevent chronic diseases such as diabetes, although fat and salt in processed foods were also to blame.

    Among Asian countries, the Philippines has slapped levies on sugar-sweetened beverages, while Indonesia and India have been considering similar taxes.

    Singapore Prime Minister Lee Hsien Loong mentioned the drinks makers’ agreement in a speech on Sunday, in which he also urged people to drink water, eat wholemeal bread and brown rice, but did provide details.

  • CPC secures N17m judgment against Coca-Cola

    CPC secures N17m judgment against Coca-Cola

    The Director General of Consumers Protection Council (CPC) Mr. Babatunde Irukera has secured a N17 million judgment against Coca-Cola International Company at the Supreme Court for wrongfully terminating the employment of a Nigerian, Mrs. Titilayo Akisanya.

    In the judgment delivered on June 30, 2017, the Supreme Court affirmed the decision of the Court of Appeal to the effect that the Court of Appeal is the final arbiter in employment, trade and labour related matters adjudicated upon by the National Industrial Court (NIC).

    Again, the Supreme Court, in interpreting Section 254(C)(1) of the Third Alteration Act to the 1999 Constitution (as amended) also held that the jurisdiction of the National Industrial Court (NIC) extends to all employment-related disputes including private employment contracts.

    Mr. Irukera took up the case of Mrs. Akisanya on February 10, 2012, when he filed a civil action before the NIC, Lagos, challenging her wrongful dismissal by Coca-Cola Nigeria Ltd. Mr. Irukera was then a Partner in SimmonsCoopers Partners, a reputable law firm in Nigeria that had the acting President, Pro. Yemi Osinbajo (SAN) as its Principal Partner.

    SimmonCoopers Partners is renowned for representing individuals, corporations and government in public interest litigation. The law firm successfully challenged Pfizer, an international pharmaceutical company over its testing of an antibiotic drug (Trovan) in Kano State, Nigeria, a situation that led to over 100 children developing meningitis. The firm also successfully represented about one million investors in a significant securities litigation arising from the First Bank of Nigeria Hybrid Offer of 2007.

    The respondents employed Akisanya as Human Resources Manager on December 11, 2001. In May 2007, she was promoted as the Human Resources Director, Commercial Product Supply (CPS) Pan Africa, while she still doubled as the Human Resources Manager at its Ota, Ogun State Plant.

    In the claim she filed before the National Industrial Court, she claimed that she received several awards and commendations for her industry and significant contributions to the growth of the company in the course of her duties.

    Things, however, turned sour when, in the course of her duties, she incurred some travel costs and expenses, which she submitted for reimbursement. The travel expenses were however not paid to her despite repeated demands. Rather than paying her, Mrs. Akisanya was directed to forward the original copies of the expenses to the corporate auditors of the company. She complied. She was later invited to a meeting with the internal auditors of Coca Cola.

    At the meeting, she answered the questions posed to her by the auditors and even promised to send a detailed report to them. She promptly submitted her written report to the audit panel. The panel advised her to wait for their report, which they would send to the ethics and compliance (ECC). She did not get a response from the ECC, neither was she shown the final report of the audit panel.

    The next move she got from the company was a letter dismissing her from the employment of the company. The later was dated December 6, 2010. Mr. Sheriff Tobala signed the letter on behalf of the company. She was accused of violating the company’s code of business conduct by submitting non-business related expenses for reimbursement and disclosing company’s confidential information to a third party.

  • Samsung is the number one most admired brand in Africa, report says

    Samsung has emerged as the number one most admired brand in Africa, according to Brand Africa’s 2016/17 list of Most Admired Brands in Africa.

    The company grew its brand value by 13 percent; a progress that can be credited to Samsung’s expedient recall and customer service solutions, according to CNN.

    “Slow growth and challenging economic conditions negatively affected the perception of African brands in 2016,” CNN stated.

    Only 16 African brands made the latest list of the Brand Africa’s 2016/17 list of Most Admired Brands in Africa, compared to 23 in 2015; and only two are in the top 20.

    Brand Africa, which has annually ranked brands that consumers admire since 2011, has compiled the list from more than 11,000 brand mentions on a mobile survey conducted in 19 countries. This collectively represents 74 percent of the continent’s population.

    Ranked at number nine, South Africa based telecom MTN is the only African brand in the top 10. Just last year it was ranked number one, but Brand Africa attributes legal challenges for its fall.

    “The halo around MTN in the last two, three years, are the challenges that it had in Nigeria both in terms of not disconnecting consumers, some who were not active anymore,” says the founder of Brand Africa, Thebe Ikalafeng.

    “Also challenges about moving their profits around the continent, around importing them.

    “So all those challenges really had a massive impact on the perception on the brand.

    “And of course it also had some leadership challenges and leadership changes,” the Brand Africa founder surmised.

    In contrast, despite the crisis behind Samsung’s Galaxy Note 7, the South Korean giant has emerged as the number one most admired brand in Africa.

    The company grew its brand value by 13 percent. This progress can be credited to Samsung’s expedient recall and customer service solutions.

    “The most important thing that they did is how responsive they were when the crisis hit them,” says Ikalafeng.

    “They were available, they were responsive, and they gave no excuses,” Ikalafeng added.

    Following Samsung, Nike, Adidas, Coca-Cola, Apple, LG, Nokia and Toyota ranked the highest among the most-admired brands in Africa.

    French apparel company Lacoste was the most resurgent brand, reaching the 42nd position from 94th in 2015, followed by Mirinda that jumped to 41st from the 88th spot.

    According to Brand Africa, despite vibrant political and social movements, as well as entrepreneurial energy on the continent, Africans are behind at creating brands fast enough to face global brands.

    In fact, Europe has 42 brands in the Top 100, 25 from US and 17 in Asia, with Africa in last place with only 16 brands that made it to the list.

    According to Ikalafeng, governments on the continent are not creating enabling policies adequately to help businesses thrive.

    Brand Africa reports that Africa has an estimated 0.6 percent share of trademarks filed globally and invests less than one percent of GDP in research.

    “If you’re not researching, how are you going to find out the needs? How are you going to create new solutions and new products?” Ikalafeng queried.

    “If you look at the big countries, the Chinas, the Americas, and all those, they really invest a lot in trade, in building their trademarks. Now if you don’t own your trademark, somebody else will own it”.

    Brand Africa reports that without investment in research and owning trademarks, international companies will top the brand leadership and dictate the trends. And therefore, right now is more crucial than ever for Africans to rise and build Made in Africa brands.

     

     

    CNN

     

  • Coke CEO Muhtar Kent to step down May 1, to be succeeded by current COO

    Coke CEO Muhtar Kent to step down May 1, to be succeeded by current COO

    The Coca Cola Company on Friday announced the stepping down of its current Chief Executive Officer, CEO Muhtar Kent after nearly a decade at the helm.

    James Quincey, the company’s current president and chief operating officer, will succeed Kent as CEO on May 1, 2017. Kent will continue as chairman of the board of directors, the company announced Friday in a move that has been unanimously approved by Coca-Cola Co. board.

    “Managing The Coca-Cola Company to ensure our long-term growth requires a thoughtful and orderly succession planning process,” Kent said in a statement. “I have been engaged with our Management Development Committee and the full Board on talent development and succession discussions throughout my tenure as CEO. We are certain that James Quincey is prepared for these new responsibilities and is the absolute right choice to lead our company and system into the future.”

    Coke (KO) shares were up more than 2% in early trading Friday to $41.87.

    Kent, 64, who succeeded Neville Isdell as CEO in July 2008, joined Coca-Cola in 1978 and rose through the marketing and operations ranks to handle bottling operations in 12 countries in 1995 as managing director of Coca-Cola Amatil-Europe. He rejoined the company in 2005 as president and COO of the company’s North Asia, Eurasia and Middle East Group after six years as president and CEO of the Efes Beverage Group.

    “Muhtar has been a catalyst for change at The Coca-Cola Company – driving the transformation of our global bottling system, expanding our product portfolio and making sustainability a business imperative,” said Quincey, 51, a 20-year veteran at the company. “I am committed to continuing my strong partnership with Muhtar, our talented management team and associates, and our valued bottling partners to continue this momentum and capture the enormous opportunities in front of us.”

    Billionaire investor Warren Buffett, whose investment firm Berkshire Hathaway owns 400 million Coca-Cola shares, valued at about $16.4 billion, offered comments on the succession plan in the company’s official release: “I know James and like him, and believe the company has made a smart investment in its future with his selection.”

    Buffett’s son, Howard Buffett, on Thursday announced that he would not seek re-election to the Coca-Cola board of directors.