NIGERIA NEWS ON FASTMOVING

In a first for the retailer, Shoprite Nigeria was among the winners at this year’s Electronic Payment Incentive Scheme (EPIS) Efficiency Awards. read more

Nigeria is poised to overtake South Africa and become the largest maize producer in sub-Saharan Africa (SSA) in the 2018/19 production season, according to Wandile Sihlobo, an agricultural economist at the Agricultural Business Chamber (Agbiz) of SA. read more

The Shoprite Group recently opened a new world-class distribution centre (DC) in Lagos, Nigeria. read more

26 April 2016 - The lure of Nigeria’s budding consumer market has snared another South African retailer, with Pick n Pay announcing on Tuesday that it would try its luck through a joint venture with Lagos-based AG Leventis. read more

Johannesburg - Pick n Pay Stores announced plans to enter Nigeria as it posted a 26% increase in full-year profit after opening 175 new stores. read more

Truworths has pulled out of its Nigerian business citing import restrictions, its chief executive said on Thursday (18 Feb), a sign President Muhammadu Buhari’s attempts to boost local industry are hurting foreign investment. read more

Lagos - Guinness Nigeria, the country’s second-biggest brewer, said half-year profit fell as an economic slowdown in Africa’s most populous country hurt beer consumption. read more

Tiger Brands said on Monday it would cut funding to its struggling Nigerian venture after nearly R1bn in write-downs. read more

When Tourvest Heinemann Duty Free Nigeria opened an excellent duty free store in Murtala Muhammed International Airport, Lagos, as part of its growth strategy into Africa, the company chose Axle Control retail software from End2End Retail to power its operations in the continent’s most lucrative market.  read more

Johannesburg - Pepkor, the clothing retailer bought by Steinhoff International Holdings for R68.4bn ($5.7bn) in 2014, plans to double its presence in Nigeria with 10 store openings per year through 2018. read more

Nigeria, with 125 million mobile subscribers, is not just Africa’s largest mobile market. It is also home to one of the most connected and engaged mobile populations on the continent.  read more

Shareholders of Nestle Nigeria Plc will have their final dividend for the year ended December 31 2014 slashed by 27 percent if the amount being proposed by the Board of Directors is approved at the next Annual General Meeting, AGM, in three months’ time. read more

The depreciating oil price and Nigerian naira, and postponed presidential elections in the West African country, could delay the recovery of Tiger Brands’ Nigerian business by 6-12 months, CEO Peter Matlare said in a conference call on Tuesday. read more

Tiger Brands’ Nigerian flour business reported a widened loss of 2.92-billion naira (about R176m) for its first quarter ended December, as currency weakness in the local market offset a 27.5% surge in sales. read more

Nigeria dropped to fourth position in global sorghum market in 2013 from number one in 2008, as local industries now operate at 40 percent capacity utilisation. Sorghum is a seed crop used in the manufacture of malt drinks, cereals, weaning formulas, biscuits, etc. read more

Tiger Brands has not been put off buying businesses of scale and its rest-of-Africa strategy has been unaffected by its bad experience in Nigeria, CEO Peter Matlare says. read more

Lagos - Cadbury Nigeria said on Friday its nine-month pretax profit was 2.39bn naira ($14.54m), down 57% from the same period a year ago, sending its shares tumbling. read more

Payment methods and logistics challenges have made e-commerce in Sub-Saharan Africa (outside South Africa) more talked about than usual. read more

The nation’s culinary market received a big boost recently as Pally Agro announced the introduction of Banga, a canned fresh palm fruit extract, into the market. read more

Consumers across the country have applauded Chi Limited for its introduction of three new variants of Hollandia Yoghurt in addition to existing variants in the market. read more

Despite short-term challenges, SA’s economy is on track to double in size by 2024 if the dividends offered by increased foreign investment are harnessed, says an EY report. read more

Euro Global Foods and Distilleries Limited, a subsidiary of Sona Group of Companies recently honoured top performers among its distributors across Nigeria at its 2014 Annual Distributors’ Forum held in Lagos. read more

Kenya has rebased its GDP measurement year to 2009, boosting its GDP data by 25%, and entering it into the top 10 economies on the African continent. read more

Nigeria’s first online, one-stop shop for beverages and alcoholic drinks, www.drinks.ng, has said that it recorded a 105 percent growth within one year of operations. read more

The Brand Manager of Goldberg, Mr. Mfon Bassey, explained that the decision to support this year’s festival was informed by the brand’s commitment to always identifying with the cultural aspirations of its operating environments. read more

In a bid to continually meet the increasing needs of its health-conscious customers, Crown Flour Mills has announced the introduction of its Mama Gold Whole Wheat Meal into the nation’s flour market, even as it rewarded its loyal customers. read more

Flour Mills Nigeria (FMN) is one of very few companies that have stood the test of time since incorporation in 1960, yet competing favourably with its peers in the industry. read more

The Director General of Unique Farmers Association (UFAN), Chief John Paul Adama, has said that the Agricultural Transformation Agenda (ATA) of President Goodluck Jonathan’s administration is most favourable to peasant rural farmers, as the scheme has eliminated intrigues in the country who deny them of their entitlements. read more

Unilever Plc is engaging various communities across the country with the Sunlight Community Wash Campaign, promising consumers a clean and fresh wash experience with its 2-in-1 Sunlight Detergent. read more

A consumer advocacy group, Consumer Rights Advocacy Network of Nigeria (CRANN) has called on relevant agencies of government to rise up to the challenge of ensuring a levelled playing field for all players in the nation’s brewery industry. read more

Nigeria’s Minister for Agriculture, Dr. Adesina Akinwumi, has said that African farmers need supports just like the developed countries support their farmers with massive subsidies. read more

The Federal Government has called on companies to source their raw materials locally, as this will create markets for farmers, boost their income, and increase employment. read more

A new Standard Bank study finds that there are 15 million middle-class households in 11 of sub-Saharan Africa’s top economies in 2014, up 230% since 2000. read more

Diaper manufacturer, Kimberly Clark has introduced Huggies Pure & Natural diaper into the Nigerian market, while also engaging mothers in sensitization activities. read more

Three promising Nigerian artists, Yemi Alade, Sheyi Shay, and Sean Tizzle have been named brand ambassadors for the newly launched Bacardi Breezer alcoholic drinks. read more

Epina Technologies Limited has disclosed that, globally, the ceramics market has been projected to reach US$408 billion by 2018, and that Nigeria currently occupies ninth position among the world’s ceramics consumers. read more

With all the skill of a master weaver at a loom, Esther Ogble stands under a parasol in the sprawling Wuse market in Nigeria’s capital and spins synthetic fibre into women’s hair. read more

The chairperson of Vitafoam Nigeria Plc, Dr. Dele Makanjuola, has stated that inefficient logistics management is threatening West Africa’s economic development. read more

The Nigerian wine market, in recent times, has witnessed unprecedented competition from various entrants into the market. read more

The International Fund for Agricultural Development (IFAD) has rolled-out a project to support the inclusion of cassava flour in bread and other confectioneries towards improving food security and the livelihoods of farmers. read more

Nigeria’s packaging industry has accounted for 12 per cent of the $4billion recorded by Middle East and African markets in the last five years, according to a survey carried out by PCI Film Consulting. read more

Seaman’s Schnapps has concluded arrangements to make this year’s celebration of Osun Osogbo festival a memorable experience for Osun indigenes and visitors.  read more

FirstBank Limited and global payments provider, PayPal, have announced a partnership to encourage Nigerians to shop online. read more

Nampak plans to expand in Nigeria through acquisitions that may exceed its largest takeover deal, as Africa’s biggest maker of beverage cans looks to counter slowing growth in its main South African market.  read more

The Deputy Comptroller of Customs, Shallangwa Hassan Sule, the Co-ordinator, Customs headquarters Anti-smuggling Task-force, has condemned the brutal attack carried out by suspected smugglers, who also mobilised the youths from Kishi and Igbeti communities. read more

Truworths International was committed to Nigeria and would not follow Woolworths out of the country, South Africa’s largest publicly traded clothing chain has said. read more

Dangote Industries Limited has secured a $300 million facility from African Development Bank, AFDB, to finance the construction of its crude oil refinery and Greenfield fertilizer manufacturing plant. read more

In an effort to develop trade relations between Iran and Nigeria, Iranian Minister of Iindustry, Mine and Trade, and head of Iranian delegation to Nigeria, Engr. Mohammad Nematzadeh, has called for the establishment of trade centres. read more

Nigeria’s inflation will rise to double digit by the end of this year, 2014 said, Razia Khan, an Economist with Standard Chartered Bank. read more

The Managing Director of TradeStable, Andrew Hall, has expressed his excitement over the huge patronage of his online shop, Tradestable.com.ng by Nigerians.  read more

The United States of America has confirmed that thirteen more port facilities in Nigeria are now fully compliant with the International Ships and Ports Facility Security (ISPS) Code, bringing the total number of compliant port facilities in the country to 22, up from nine since the last assessment. read more

Clearing agents, operating in the nation’s seaports, have cried out over alleged re-introduction of the controversial benchmark for all imported consignments, saying that the introduction has hiked cost of clearing goods by 200 per cent.  read more

The Standards Organisation of Nigeria (SON) and the Standards and Quality Agency of Cameroon ( ANOR) are set to remove trade barriers, between Nigeria and Cameroon, with the signing of a Memorandum of Understanding (MoU), aimed at promoting standards. read more

Honeywell International Incorporated has announced plans to build mobile refineries that can be deployed to volatile places in Nigeria and in regions across the world. read more

The United Nations Industrial Development Organisation, UNIDO, is collaborating with Food Processing and Packaging Machinery, of the German Engineering Federation (VDMA), to reduce the level of post harvest food losses in Nigeria. read more

Helsinki – Finland-based mining company, Metso, has expressed interest in helping Namibia in its endeavour to set up an oil refinery plant. read more

Johannesburg - The rand was still struggling against the dollar last Tuesday, after falling to two month lows overnight, with the country's weak economic fundamentals denting investor appetite. read more

Phillips Oduoza, the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA) Plc, says that Nigeria’s retail sector holds huge potential for growth.  read more

Cocoa output in Nigeria, the world’s fourth-largest producer, has failed to meet the expected yield owing to heavy rains in the southern growing belt, according to the Cocoa Association of Nigeria. read more

The chairman of Dangote group, Alhaji Aliko Dangote, is to invest US$250million in the proposed Sugar factory acquired by his company. It is located in Kaugama, the local government area of Jigawa state. read more

It's investment in Nigeria had taught Tiger Brands not to be hasty when pursuing growth opportunities in Africa, group CE, Peter Matlare, said on Wednesday as the company released its interim results. read more

Manufacturers Association of Nigeria (MAN) has raised alarm over the fate of about 2000 containers that are currently trapped in various ports in Lagos. The group attributed this development to the faulty implementation of the newly introduced Pre-Arrival Assessment Report, by the Nigeria Customs Service. read more

Shareholders of consolidated Breweries Plc have unanimously approved and applauded management’s recommendation of a total dividend of N917.73 million. This represents N1.85 per 50k share to those who are on the register of members as of April 17, 2014. read more

Nigeria has been ranked as the world's 4th leading economy in purchasing of luxury goods, Executive Director of Polo Limited, Ms Jennifer Obayuwana, has disclosed. read more

Brands and Products Limited, a marketing communications company, established in Ghana in 2009, has been acquired by Verdant Zeal Marketing Communications, Nigeria. read more

Extending agency banking to rural areas of the country has been identified as a critical condition for attracting the informal sector into the banking system. read more

International Breweries Trophy has undergone a re-packaging campaign in order to keep the brand fresh and appealing to its consumers. read more

Taping into the Information and Computer Technology (ICT) that has dragged the world into a global village, the management of Megacare Pharmacy has launched Nigeria’s first online pharmacy and health mart to provide a healthier you, and also bring shopping of its products to your doorstep. read more

The World Economic Forum has declared that the increasing digital divide between the connected and the under connected nations across the globe is stalling the progress of emerging and developing nations. read more

Consumer behaviour in Nigeria has revealed some interesting unique traits about the most lucrative market in Africa, a research by Nielsen, world’s leading market research company, has shown.  read more

KANO (AFP) – South African retailer Shoprite on Thursday opened its first outlet in northern Nigeria, as part of an aggressive expansion drive and defying wider concerns about security in the region.  read more

Shoprite opened its first outlet in northern Nigeria on Thursday, as part of an aggressive expansion drive and defying wider concerns about security in the region. read more

Nampak has commissioned a new plastic closures line in Lagos, Nigeria. Nampak South Africa has a long-standing strategic partnership with Bericap, Germany who agreed to extend the manufacturing licence to include Nampak Nigeria. The initial product will be closures for still water and will be followed by carbonated soft drink closures. read more

Lenovo, the largest maker of personal computers (PCs), plans to expand its smartphone business in three West African countries this year as it builds on a surge in demand in Nigeria.  read more

President and Chief Executive of Dangote Group, Aliko Dangote, has decried the negative perception of socio-political situation in African countries, saying it was responsible for the low level of inflow of investment into the continent. He said recently at the World Economic Forum in Davos, Switzerland.  read more

Shoppers in Apapa area of Lagos and its environs will soon have their shopping experiences enhanced as Apapa Shopping Mall, being built by Wemabod Estate, a subsidiary of the Odu’a Group of Companies, will be ready for use by the end of the first quarter of the year. read more

Cape Town - SABMiller's Nigerian subsidiary, Intafact Beverages, announced the expansion of its brewery in Onitsha, South Eastern Nigeria, the company said in a statement. read more

Minister of Agriculture, Dr Akinwumi Adesina, has said the Federal Government is putting in place policies and programmes to stimulate and stabilise fish production in the country, saying spending huge resources on fish importation is unacceptable to a country with potential and resources capable of producing fish that could feed the world. read more

The Minister of Aviation, Stella Adaeze Oduah, has projected that revenue that will accrue from the export of farm produce by Nigerian farmers through the perishable cargo programme would surpass oil revenue in the next 10 years.  read more

The building of shopping malls by the Odu’a Investment Company is geared by the passion to revive, enliven and revitalise the shopping delight and needs of shoppers. The ancient city of Ibadan has joined emerging shopping hubs in Nigeria. read more

According to Woolworths chief executive Ian Moir, the company always listens to what its shareholders say about executive remuneration, “especially those who have issues” with the subject. read more

Johannesburg -Shoprite [JSE:SHP] reported a 10% rise in July-September sales on Monday, helped by a strong showing at its sub-Saharan stores outside its struggling home market. read more

Abuja - Nigeria's year-on-year consumer inflation fell to 8.2% in August, lower than July's 8.7% figure, the statistics bureau said on Tuesday, and touching a new 5-year low. read more

SA music retailer Look & Listen is set to re-launch its digital music store, five months after it halted online purchases on the platform. read more

Johannesburg - Foreign direct investment (FDI) flows into South Africa decreased by 24% between 2011 and 2012, according to the United Nations Conference on Trade and Development (Unctad). read more

French retail giant Carrefour SA said Wednesday it has teamed up with African distribution company CFAO to expand its presence in Africa, as the grocer seeks to reinforce the global footprint of its name. read more

Imperial Holdings has gained a foothold in Nigeria’s fast-growing logistics market with the acquisition of a 49 percent stake in leading Nigerian provider MDS for $26 million (R237m) in cash. read more

Johannesburg - A thirst for beer among Africa's middle classes is driving the world's biggest brewers to invest on the continent, but getting women to drink the beverage is another matter. read more

VENTURES AFRICA – SABMiller reported in April this year that full year lager volumes in Africa surged 6 percent on the back of additional capacity coming on stream and enhanced availability. read more

For the President of DMSRetail West Africa, Joseph Ebata, the retail sector in Nigeria has witnessed a huge growth, despite the challenges bedeviling it. read more

London - Microsoft, trying to find growth markets for its mobile products, is projecting that rising demand in South Africa will help it pass BlackBerry and Android and pave the way for further gains on the continent. read more

Residents of Ibadan metropolis trooped out enmasse on Wednesday, to have a glimpse of a wear outfit located at the newly opened Odu’a Shopping Mall, along J Allen area, Ibadan, the Oyo State capital. read more

Johannesburg - Nigerian President Goodluck Jonathan and his South African counterpart Jacob Zuma will discuss ways to boost trade between Africa's two biggest economies during talks in Cape Town next week. read more

SABMiller planned to boost beer volume sales in Africa by between 7 percent and 9 percent a year by slashing prices, using more local grains and cheaper packaging, and negotiating better tax terms with governments, the company said yesterday. read more

Nigerian tax administrator, the Federal Inland Revenue Service (FIRS) said during the weekend that it generated 5.007 trillion naira ($32 billion) for the Federal Government in the 2012 fiscal year. read more

Nigeria may occupy the 13th position as one of the leading G20 economies in the World by 2050, a report released by international accounting firm, PricewaterhouseCoopers (PwC) has revealed. read more

With about 225 stores in 15 countries, Max Fashion, a premium clothing chain in the United Arab Emirate (UAE) is set to undergo a major expansion spree this year in Africa among other regions. It is particularly shifting its attention to sub-Saharan Africa among other regions in the world. read more

Abuja - Nigeria's consumer inflation rose to its highest in four months in November as the impact of the country's worst flooding in 50 years pushed up the cost of food, data showed on Monday. read more

With the launch of its business in the Nigerian market last week, authorised Apple reseller in Nigeria, iStore has revealed plans to offer free training to customers on Apple hardware and software. read more

GlaxoSmithKline Plc plans to spend more than $1 billion to raise stakes in its Indian and Nigerian consumer healthcare arms, as Britain's biggest drugmaker deepens its emerging markets and non-prescription consumer health footprint.  read more