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Business News

Official: Guinness now produces Baileys from Nigeria

Guinness Nigeria Plc reports it now produces Baileys Irish Cream in Nigeria. The company made this revelation in its Investor conference.

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Baker Magunda, Guinness Nigeria Plc, Baileys, Why Guinness is a stock to pick - RenCap , Heavy sell-off in Guinness shares leads to N6.9 billion market value loss in a single day

Guinness Nigeria Plc reports it now produces Baileys Irish Cream in Nigeria. The company made this revelation in its Investor conference call following the announcement of its results. 

Diageo owns about 58% of Guinness Nigeria Plc. The company claimed Nigeria is the first country that has produce Baileys outside of Ireland. Nigeria was also the first country outside Ireland where it produced its Foreign Extra Stout.  

Speaking on the company’s milestone, Ayodele Alabi, Corporate Communications Manager, Guinness Nigeria Plc, said, “this has gone well. It’s a variant of the international syndicate that you all know, it’s gone really well. We’re still in a few places, we’re continuing to build our growth consumer, but the consumer and customer response so far has been very good.” 

READ MORE: Guinness Plc launches new PET bottles, unveils new production plant

Recall that some months agoGuinness Nigeria Plc grew its product portfolio in the highly competitive market space, by launching ‘Baileys Delight’, a new product to alcoholic beverage.  

The beverage producer described the new product as “a light and lush cream liquor which blends the luscious taste of African honey with real dairy cream, from the makers of Baileys Original Irish cream.” 

What you should know: The Baileys Delight was launched in three different categories –75cl187.5cl, and the sachet pack. While the 75cl is in a breakable bottle, the 187.5cl is in a re-useable handy pet. 

Baileys Delight’s looks of light brownish golden cream mixed with 13% alcohol make the taste smooth and it comes in African Honey, Butter, and Vanilla flavours. 

Struggles remain: Guinness still continues to face significant challenges amidst competition from Nigeria Breweries and International Breweries. The company, for example, reported that sales of its Harp Larger beer fell by “double digits” during the year. It, however, claimed its new Guinness Gold beer is performing well. According to the company CEO 

Talking a little bit about the beer market, we continue to see a decline in the market both in volume and value throughout the year. 

This doesn’t sound good for shareholders who are looking for a sharp turnaround in the fortunes of the company.  

Interestingly, Guinness also claims it sells more of cans and PET bottles compared to bottles even though margins are lower.  

Bottle format in returnable glass tends to be a higher margin in our business and in the total business actually in the categories in which we operate. We saw that overall non-returnable glass [SKUs] like PET and cans grow much faster than the returnable glass format and as you know from various conversations we’ve had cans and PET tend to attract a much lower growth margin than we have in the returnable glass. So that was another pressure point that we saw coming through in the year. Of course the categories especially for non-alcoholic brands like Malta. 

READ ALSO: Guinness Plc gives reasons for its declining beer sales volume

Company overview: Guinness Nigeria started production in the capital of the country’s commercial hub, Ikeja, Lagos since 1963 with additional brewery plants in Benin City and Aba. The brewery was the first Guinness operation outside Ireland and Great Britain. 

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Guinness products were first sold in Nigeria between the 1940s and 1950s by United Africa Company (UAC) and the country subsequently became an important export market for the firm. 

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ).Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Coronavirus

Covid-19: WHO approves China’s Sinopharm vaccine

WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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Covid-19: First world nations oppose waiving intellectual rights for vaccine development

The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

“This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

“Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

“On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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Obituaries

“Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

READ: Abba Kyari’s last letter to President Buhari

She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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