PZ Cussons to sell its Nigerian dairy business to FrieslandCampina WAMCO

NIGERIA – UK-based consumer products company, PZ Cussons has reached an agreement to divest its Nigerian dairy business, Nutricima to Holland’s Royal FrieslandCampina Nigerian subsidiary, for an undisclosed sum. PZ Cussons said in a statement to the London Stock Exchange, on which it is listed, that it has exchanged contracts for the sale of the assets associated with Nutricima’s business to FrieslandCapina WAMCO Nigeria. Nutricima manufactures and distributes beverages in Africa. Its product portfolio includes milk and yoghurt-based drinks such as Nunu, Yo, and Olympic. Under Nunu brand, the company…

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Only six firms will be allowed to import milk in Nigeria, CBN says

NIGERIA – The Central Bank of Nigeria has given approval to six dairy companies to import milk into the country. CBN in a statement signed by Director, Trade and Exchange Department, Dr Ozoemena Nnaji said that the move is part of efforts aimed at bridging the supply gap of milk. This move comes even as the government pursues its backward integration strategy to make the country self-sufficient in milk production. Nigeria’s apex bank said the approval was given in line with its objective to increase and improve the local production…

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FrieslandCampina WAMCO partners IFDC to transform milk production in Nigeria

NIGERIA – FrieslandCampina WAMCO, Nigeria leading dairy processor, has teamed up with the International Fertilizer Development Center (IFDC) in a drive to transform milk production in the country. This follows an agreement signed between the two firms led by FrieslandCampina WAMCO’s Managing Director, Mr. Ben Langat, and IFDC’s President and Chief Executive Officer, Mr. Albin Hubscher, reports Beverage Industry News. Under the agreement, IFDC will leverage on its agribusiness incubator programme – 2Scale – to expand on FrieslandCampina WAMCO’s Dairy Development Programme (DPP). The aim of the agreement is to…

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FrieslandCampina WAMCO posts 6% growth in revenue to US$413.82m

NIGERIA – Nigeria’s largest dairy producer, FrieslandCampina WAMCO Nigeria PLC, posted 6% growth on revenues to US$413.82 million (N149.2bn) during its 2018 financial year. During the period, the producer of Peak and Three Crowns brands reported 3% increase in pre-tax profits to US$45.21 million (N16.3bn) up from US$44.1 million (N15.9bn) reported in the previous year. However, the company’s profit after tax declined by 2.19% to US$32.73 million (N11.8bn) while topline sales in the three months to end March 2019 climbed 10% compared to the first quarter of 2018. The firm…

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FrieslandCampina WAMCO reiterates commitment transforming Nigeria’s dairy sector

NIGERIA – FrieslandCampina WAMCO, Nigeria’s leading dairy producer, has reiterated its commitment in transforming the dairy industry to enhance growth in the sector. Mr Ben Langat, Managing Director, FrieslandCampina WAMCO, in a statement issued by the firm said that the company is mapping out strategies to improve local sourcing of milk in alignment with national development goals. Since 2011, FrieslandCampina WAMCO has been working in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD) on its Dairy Development Programme (DDP), reports Nigeria News Agency. According Langat, through the…

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FrieslandCampina WAMCO inaugurates dairy training academy in Nigeria

NIGERIA – FrieslandCampina WAMCO Nigeria Plc, a leading dairy producer, has opened a dairy training academy in Lagos, Nigeria as part of the company’s efforts to promote its business and employees’ growth. Speaking during the commissioning Mr. Ben Langat, the Managing Director, FrieslandCampina WAMCO, highlighted that the facility will improve skills to enhance performance of the firm. “Our new training academy is purpose built and equipped to enhance the skills of our employees who deliver some of the best global practices that FrieslandCampina WAMCO is known for across Nigeria. “The…

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FrieslandCampina, IFDC partner to boost milk production in Nigeria

NIGERIA – FrieslandCampina WAMCO Nigeria has partnered the International Fertilizer Development Center (IFDC), a science-based public organization, in a project that aims to boost milk production for pastoralist milk producers in Nigeria. Through the partnership, the Nigerian subsidiary of the Dutch multinational dairy cooperative will work together with pastoralist milk producers in Oyo State, to boost the quality and quantity of local milk and improve the livelihoods of farmers. Markedly, under the 2SCALE project, the dairy partnership seeks to alleviate the contribution of women in the country’s dairy farming sector…

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FrieslandCampina WAMCO’s sales grew 13.2% despite economic challenges

NIGERIA – FrieslandCampina WAMCO Nigeria Plc, maker and distributor of dairy products has said that sales for the full year 2017 grew 13.2% to US$387.8 million from US$342.78 million in the previous year. According to the company, the financial results for the period were marred with economic challenges including foreign exchange constraints, high inflation rate and low consumer purchasing power. Despite of a difficult operating environment, the company said it showed resilience and determination to meet its targets and thrive, reported BeverageIndustryNews. Its net profit declined by 13.5% to US$33.24…

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