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Nigerian Breweries Partners Entrepreneurs

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Nigerian Breweries PLC
  • Nigerian Breweries Partners Entrepreneurs

Nigerian Breweries (NB) Plc has deepened its partnership with indigneous entrepreneurs and farmers to harness the huge value chain from its backward integration policy, its Corporate Communications and Brand Public Relations Manager, Mr. Patrick Olowokere, has said.

Speaking during a tour of Psaltry International Limited, one of Nigerian Breweries’ major raw material suppliers, in Alayide Village, Ado Awaiye near Iseyin in Oyo State, he said the company was consolidating its local sourcing of input for its operations.

He said the company has fast-tracked its plan to attain 60 per cent local input sourcing by 2018 as against the initial 2020 target.

Olowokere said the strategy was to identify organisations that could produce raw materials and ancillary products as input for its business.These organisations, Olowokere explained, would be provided with a market for their products.

He said the value chain model has been experimented in packaging material, sorghum and cassava development models.

Olowokere said the company had increased the supply of sorghum used for some of its beverages as more than 100,000 metric tonnes of the cereal are sourced yearly.

“Over 250,000 farmers spread across agronomic zones in the North have been impacted by our sorghum value chain programme as at 2013,” he said.

The company’s brands are packaged using locally-sourced packaging materials, such as bottles, cans, crates, cartons, crown corks, and labels. As at last year, 99 per cent of these packaging materials were locally sourced, opening opportunities to indigeneous entrepreneurs.

Similarly, the company has since 2015 been working with Psaltry International, a local cassava processing company, to optimise the cassava value chain by providing industrial quality cassava starch to extract maltose syrup for use in its brewing process.

NB, according to Olowokere, would strengthened local ancillary businesses, particularly the procurement of raw materials, such as starch input and identify Psaltry, as a supplier of high-quality cassava starch.

He maintained that the initiative was part of the company’s corporate philosophy of “Winning with Nigeria” and in line with its backward integration.

The Managing Director/Chief Executive Officer of the firm, Mrs. Oluyemisi Iranloye, said the company has created a supply chain of 5,000 farm families, which included more than 2,000 outgrower farm families, marketers, transporters and retail input suppliers.

She added that the company has saved the nation more than $7 million in foreign exchange in the past two years through local provision of processed cassava starch for industrial use.

The deal between the firms is also impacting socio-economic development of small scale farming communities in Nigeria. For instance, Chief Busari Amusa, Baale of Alayide, the host community of Psaltry International Limited, was full of gratitude for the new infrastructural transformation that had come to his community. “It is a dream come true. We have electricity, boreholes for water and the roads are also opening up for accessibility between our farms and the factory. My story has changed.”Today, and less than two years of this cassava business, I have a new house, a car and four of my children are in higher institutions of learning. This is unbelievable,” he revealed during the tour of the community,” he said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Investment

Saudi Arabia Aims for $80 Billion Tourism Investment to Fuel Vision 2030 Goals

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Saudi Arabia is embarking on a bold venture to attract up to $80 billion in private investment into its burgeoning tourism industry, a move pivotal to realizing its ambitious Vision 2030 objectives.

Tourism Minister Ahmed Al Khateeb unveiled the kingdom’s aspiration during an interview in Riyadh, emphasizing the imperative role of the private sector in spearheading investment endeavors.

With plans to disburse approximately $800 billion on tourism over the next decade, Saudi Arabia is steadfast in its pursuit to diversify its economy and reduce dependency on oil revenues.

Vision 2030 outlines a trajectory for the kingdom to metamorphose into one of the world’s premier tourist destinations, targeting 150 million annual visitors by 2030, a significant portion originating from overseas.

While the government and sovereign wealth fund have historically fueled tourism development, securing substantial foreign direct investment, particularly from the private sector, emerges as paramount in expediting Vision 2030 initiatives.

The kingdom’s fiscal projections, forecasting deficits until 2026, underscore the urgency of engaging private investors to actualize the ambitious tourism blueprint.

Saudi Arabia, having welcomed 100 million tourists in 2023, predominantly domestic travelers, eyes international markets such as India, China, the UK, France, and Germany for tourist influx.

A new program launched by the Ministry of Tourism aims to streamline investment processes, potentially unlocking $11 billion in private investment, bolstering Saudi Arabia’s tourism trajectory and reshaping its economic landscape.

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CBN Unveils Plan to Settle N1.64 Trillion Treasury Bills in Q2 2024

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FG Borrows

The Central Bank of Nigeria (CBN) has announced its strategic approach to managing liquidity and meeting financial obligations by unveiling a comprehensive plan to settle Treasury Bills (TBs) worth N1.64 trillion during the second quarter of 2024.

This initiative, part of the CBN’s Nigeria Treasury Bills Issue programme, aims to regulate the money supply within the economy while effectively managing liquidity dynamics.

According to documents obtained by Investors King, the TBs settlement program is slated to commence on March 7th and conclude on May 23rd, 2024.

The CBN will focus on settling TBs with varying tenors, including N414.29 billion on 91 days, N43.74 billion on 182 days, and a substantial N1.18 trillion on 364 days.

The breakdown of the settlement plan reveals monthly settlements to address maturing TBs. In March, the CBN plans to settle N660.62 billion worth of TBs, followed by N292.17 billion in April and N688.3 billion in May.

Market analysts interpret this move as a testament to the CBN’s commitment to managing financial obligations and maintaining economic stability.

It provides investors with opportunities to engage in short-term financial instruments while contributing to overall liquidity dynamics.

The strategic settlement plan reflects the CBN’s proactive stance in navigating economic challenges and ensuring stability within the financial landscape.

As the apex bank implements these measures, stakeholders will closely monitor their impact on market dynamics and economic indicators, anticipating implications for investment decisions and monetary policy outlooks.

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China’s State-Owned Lenders Allocate $8 Billion to Revitalize Property Market

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General Images Of Residential Property

China’s state-owned lenders have committed a substantial $8 billion in loans to rejuvenate the country’s beleaguered property market, aligning with Beijing’s directives to bolster the sector.

Agricultural Bank of China Ltd. disclosed approving over 40 billion yuan of loans for real estate projects on predefined white lists, signaling a proactive approach towards supporting the housing market’s recovery.

China Construction Bank Corp. also joined the effort, extending 3 billion yuan to five property projects, with plans to greenlight over 20 billion yuan in loans soon.

Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. are among the institutions offering financing assistance, although the exact loan amounts remain undisclosed.

This initiative follows Beijing’s recent call for local authorities to enhance financing support for developers and curate lists of eligible projects.

In response, the big four state lenders pledged to meet reasonable financing demands from developers and projects identified under the coordination mechanism.

However, China’s property market faces challenges despite these measures. New home sales plummeted 34.2% year-on-year, underscoring the ongoing slowdown.

While existing home transactions surged during the Spring Festival holiday, new home sales remained subdued, prompting a cautious outlook among buyers.

The infusion of $8 billion aims to instill confidence and stimulate activity in the property sector, potentially heralding a gradual recovery amid persisting market uncertainties.

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