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Business News

Pepsi and Coca-Cola put differences aside for a good cause

The CEOs of two of the world’s top soft drink makers — PepsiCo and Coca Cola — came together yesterday for talks on how to control plastic waste. 

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Coca Cola and PepsiCo

The Chief Executive Officers of two of the world’s top soft drink makers — PepsiCo and Coca Cola — came together yesterday for talks on how to control and recycle plastic waste in the world.

The CEOs, Ramon Laguarta and James Quincey, were both participants during a panel on how to control the waste economy. This has so far been a pertinent topic, and is dominating discussions at the ongoing World Economic Forum in Davos.

Meanwhile, the CEO of the plastic manufacturing company Dow Chemical, Jim Fitterling, also joined in on the discussion which ended with a resolution to considerably reduce plastic waste by 2030.

PepsiCO, Coca Cola, and Dow Chemical have long been at the forefront of efforts to end plastic waste which is harmful to marine life especially, and by extension humans and the earth at large.

According to CNBC, PepsiCo is particularly working hard to ensure that all of its packaging materials are recyclable and biodegradable come 2025. So far, the company has already begun testing out biodegradable materials in readiness for full implementation.

During the panel, the company’s CEO, Ramon Laguarta, was also emphatic about the PepsiCo’s commitment to drastically reduce plastic waste by the set date of 2030.

“We can reduce the amount of plastics in the system, both in our beverages and in our snack businesses. I am quite optimistic by 2030 that we will be solving the problem.” – Laguarta

Plastic waste have been an issue of serious concern to many. And while there has been a lot of talks about solving the problem, many environmentalists believe that little action has so far been taken. This is despite comments by Mr Quincey of Coca Cola that “there are countries where we have already solved the problem.”

Note that Coca Cola and PepsiCo are serious competitors who do not come together often. But whenever they do come together, it is always for something nice.

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Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

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Appointments

Branch International appoints Dayo Ademola as Managing Director in Nigeria

Branch International has appointed Dayo Ademola as Managing Director in Nigeria.

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Branch International, the leading digital finance app with over 20 million users, has announced the appointment of Dayo Ademola as Managing Director in Nigeria, effective immediately.

Ademola, a leader with over fifteen years of experience in global, consumer-centric companies such as MainOne, Rosetta Stone (USA) as well as Union Bank amongst others, will lead the Branch team with the key focus to provide Nigerians with great value through quality modern financial services

In her new role in Branch, she is expected to leverage her experience as a financial services and technology leader, drawing from her established operational excellence in innovation, business strategy, customer segmentation, strategic marketing, product positioning, product development and business performance management.

What they are saying

While commenting on the announcement of her new role, the new MD talked about the nice offers of Branch and how impressive the services of the company are, Dayo Ademola said:

“I’m excited to join Branch because I love how the Branch app offers Nigerians a great deal. No other finance app offers a 20% investment yield (highest in Nigeria), zero-fee unlimited money transfers and instant loans with no paperwork, collateral or late fees.

“Branch’s all-in-one finance app can help everyday Nigerians simplify their financial life and get ahead. I’m excited to do my all to help everyone in the country become aware that there’s a better deal when it comes to your money.”

About Dayo Ademola

  • Ademola earned a bachelor’s degree in International Business and Economics from Temple University, USA and a Global Executive MBA from INSEAD.
  • Prior to joining Branch International, Dayo served as the Head of Innovation at EFInA, in this role she was responsible for the administration of EFInA’s multi-million-dollar Innovation Fund, funding licenced financial services providers as well as start-up and growth-stage fintechs, with an aim to boost financial inclusion in Nigeria.

About Branch International

  • Branch International is a leading digital finance app with over 20 million users and offices across Nigeria, Kenya, Tanzania and India.
  • Branch continues to redefine digital finance as the platform with product features such as instant loans, free money transfers, bill payment and investment.
  • Branch in the past three years of operation in Nigeria has processed over 40bn Naira in over 3 million loan transactions.

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Business

Conoil’s 30,000 bpd facility forced to shut down by host community

Conoil Producing Limited has had its crude oil production flow station at Ango field Bayelsa that it is operating shut down.

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Conoil Plc releases FY financial result for 2019, profit up by 11% 

Indigenous oil exploration and production company, Conoil Producing Limited, has had a crude oil production flow station at Ango field in Koluama, Southern Ijaw Local Government Area of Bayelsa State shut down by the host community.

This follows the protest by aggrieved members of the community over the oil firm’s insensitivity to its social obligations towards the people.

According to a report from the News Agency of Nigeria (NAN), the protesting members of the community had besieged the facility and told the oil workers to shut the facility and leave the site of the 30,000 barrels per day capacity flow station.

The oil workers at the onshore facility connecting oil wells within the swamps and creeks at Koluama were escorted out of the area by speedboats by armed security men.

What a community leader in Koluama is saying

A community leader in Koluama 1, Chief Young Fabby, on Tuesday, said that the facility was shut to protest the oil firm’s insensitivity to its social obligations to the people.

He said the aggrieved community shut operations at the flow station on Monday and sacked oil workers deployed to run the oil facility following Conoil’s failure to renew the Memorandum of Understanding (MOU) which expired in 2020.

Chief Fabby said, “The Koluama clan was compelled to take the action following the refusal of the oil company to dialogue on several outstanding issues amongst which is the MoU which expired for more than one year.

“All entreaties through established channels have been rebuffed. Secretary of Koluama kingdom Oil/Gas Committee, Jonathan Amabebe, had drawn attention to the refusal of Conoil and this is regrettable,” he said.

Although officials of Conoil have yet to react to the incident, the Commandant of Nigeria Security and Civil Defence Corps (NSCDC) in the state, Mrs Christiana Abiakam-Omanu, confirmed the development.

She said that members of Conoil’s host communities were at the oilfield to protest, but that only the operator of the field (Conoil) could confirm if it was shut or not.

What you should know

  • Conflicts between the oil-producing communities in the Niger Delta region of the country and the oil-producing firms have become quite regular and is a huge challenge to uninterrupted oil production in that area.
  • The complaints by the host communities against these oil firms include environmental degradation, incessant oil spillages, neglect of their corporate social responsibilities and so on.
  • This has often led to disruption/ stoppage of operations, closure of flow stations and rigs, vandalism/destruction of facilities, molestation/abduction of oil company staffs, temporary seizure of oil company assets like vehicles and boats and so on.

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