Friday 29 March 2019
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BUSINESS DAY
17
COMPANIES & MARKETS CONSUMER GOODS
AB InBev rebrands UK business unit, roles out new brand ambitions OLUFIKAYO OWOEYE
W
orld’s biggest brewer, AnheuserBusch InBev (AB InBev) has announced a change in the name of its UK business unit to Budweiser Brewing Group UK&I. Paula Lindenberg, President AB InBev UK operations, said the brewer decides on Budweiser because it is the company’s most globally recognizable brand. “Through the power and recognition of the Budweiser brand, we want to open ourselves up to working with more partners to achieve our ambitions,” said Lindenberg The company said that the move also underlines its commitment to the UK and Ireland, the opening of a new London headquarters and the appointment of a new president. The UK unit
appointed a new president, Paula Lindenberg in January from Ambev in Brazil, where she was vice-president of marketing. Budweiser Brew ing Group also outlined new ambitions that will drive its UK market, this includes championing Britain’s beer culture with trade-targeted programmes aimed at barley farmers, pubs and retailers, encouraging “smart drinkers” while discouraging harmful drinking, Lower and non-alcoholic ABV beer made up about 8% of last year’s sales according to its latest financial results. The company said it expects lower and non-alcoholic products to make up 20% of its global volumes by 2025. It also pledged to accelerate its sustainability targets, and “continuing to invest in premium drinks and powerful brands.” “We are a fast-paced, ambitious group that dreams
big, and we have exciting plans ahead for the UK and Ireland. Through the power and recognition of the Budweiser brand, we want to open ourselves up to working with more partners to achieve our ambitions,” said Lindenberg. “We are looking forward to making a big impact in the year ahead, working towards brewing our beers with 100% renewable electricity and accelerating our progress towards 20% of our global products being no or low alcohol.” In its recently released result for the full year 2018, sales growth improved in the final quarter of 2018 with a solid revenue growth of 4.8% coupled with operating leverage drove EBITDA growth of 7.9% with margin expansion of 130 bps and $8.6 billion of underlying profit, all despite currency and commodity headwinds.
L-R: Babatunde Obaniyi, director, publicity and marketing; Chuka Eseka, president, and Ike Chioke, 1st vice president all of Association of Issuing Houses of Nigeria (AIHS) at the 1st AIHS business lunch meeting in Lagos. Pic by Pius Okeosisi
Its growth in Nigeria accelerated throughout the year following the introduction of our new brewery mid-year to meet demand, with revenue growth
of more than 50% in last quarter of 2018 and more than 25% in FY18 driven by double-digit volume growth and continued market share gains.
EVENT
PUBLIC INSTITUTIONS
CAC registers three million companies in 28 years ISRAEL ODUBOLA
T
he Corporate Affairs Commission (CAC) says it has registered 3,098,193 companies and firms in three categories from its inception in 1990 to Thursday, March 21, 2019. This was disclosed by the Acting Registrar, Azinge Azuka, at Customers/ Stakeholders Forum in the
country’s capital, Abuja. According to the CAC boss registration of firms /companies under Parts Limited Liability Company (A), Business Name (B) and Incorporated Trustee (C) amounted to N618, 309. The council received N175, 098 from the Limited Liability Companies (LLC) in 2016, N193, 194 from Business name (B) in 2017 and N252, 035 from
Incorporated Trustee (C) in 2018. Azuka noted that number of Annual Returns filed under the Parts A, B and C in the last three years was N190, 078. According to her the major thrust of the Buhariled administration is to revamp to the Nigerian economy by supporting Micro Small and Mediumsized Enterprises (MSMEs)
whose activities are instrumental to the growth of the economy. The CAC boss maintained that the commission remains resolute in reviewing its processes at regular interval. “In that regard, work is at advanced stage to amend it enabling law, the Companies and Allied Matters Act (CAMA) in collaboration with the
National Assembly. “This seeks to ease starting and growing Businesses in Nigeria, Ensure more appropriate regulation for MSMEs. “Enhance transparency and shareholders engagement align regulate framework with International best practices and make Nigeria an investment destination of choice,” she said.
OIL & GAS
Axxela commissions $30m Greater Lagos IV gas pipeline network OLUSOLA BELLO
A
xxela Limite has officially commissioned its Greater Lagos IV (GLIV) gas pipeline network and the newly renovated Elegbata Sports Complex. The $30 million pipeline will supply gas to commercial and industrial off-takers along its route. Already First Power and Island Power which are amongst the company’s customers have signed on the project for gas supply. Greater Lagos IV (GLIV) is Axxela’s gas
AB InBev has a long list of internationally recognized brands including Stella Artois, Budweiser, Corona, Michelob Ultra, Bud Light, Beck’s, among others.
pipeline network, developed by its Gaslink Nigeria Limited subsidiary in partnership with the Nigerian Gas Marketing Company (“NGMC”). Spanning from Ijora through Lagos Island’s Marina axis. Speaking at the event, Axxela Chief Operating Officer, Rasheed Olaoluwa remarked, “This occasion demonstrates our continued contribution to the growth of Lagos State’s burgeoning socioeconomic landscape, and also reinforces Axxela’s commitment as trailblazers in the distribution of
natural gas to industries, and we are immensely proud of this pioneering effort. There remains a considerable demand for power generation, and this pipeline extension project will revitalize industrial development across the metropolis. We are also delighted to commission the sports complex, affirming our promise and always-on engagement of host communities in our areas of operation.” The Lagos Sports Commission Chairman, Kweku Adedayo Tandoh, representing the
Lagos State Governor, His Excellency, Governor Akinwunmi Ambode applauded Axxela for the initiative and its role in boosting economic development in the state. He said: “I would like to thank Axxela for developing this sports facility which indicates its firm commitment to the welfare of its host communities. This project is a welcome development for denizens of Elegbata which signifies the many possibilities that abound from public and private partnerships and the significance of sports in
the community. The Lagos State Government is steadfast in the provision of world class facilities under the umbrella of tourism, entertainment, hospitality, and sports excellence together.” As part of its sustainability efforts, Axxela also recently renovated Olowogbowo Methodist Primary School located within the neighborhood, in a bid to improve the quality of education available. Olowogbowo Primary School also defeated Dele Ajomale Primary school 1-0 in the first ever match held at the new facility.
PEVCA hosts PE outlook event The Private Equity and Venture Capital Association, Nigeria (PEVCA) will be hosting its members and industry participants Friday, March 29, 2019 in a session that will focus on current macro indicators, outlook for the year and how it impacts on the operating environment for private equity managers and investors. In a n e nv i ro n m e nt where Fund managers must weigh investment decisions against relatively volatile economic cycles (among other considerations), determining the impact macroeconomic dynamics have on asset pricing or portfolio management, for example, remains essential. Guest speakers are Okechukwu Enelamah, Honorable Minister of Industry, Trade and Investment ; Eme Essien, Country Manager IFC Nigeria and Andrew S. Nevin, Advisory Partner and Chief Economist at PwC West Africa. PEVCA Nigeria is a recently established member driven, industry body positioned to foster an enabling environment for the Nigerian private equity and venture capital ecosystem.