Brands and Marketing Archives — Business Bells

Category: Brands and Marketing

Insight Redefini Boss, Onyeali Ikpe, Meets BJAN’s New Exco, Tasks IMC Practitioners on Brands Consulting

Dr. Ken Onyeali Ikpe, Group CEO, Insight Redefini has charged Integrated Marketing Communications, IMC, practitioners to always rejig their business model in order to meet the present day need of consumers, as the industry has evolved.

He gave the advice when the newly elected executives of Brand Journalists Association of Nigeria (BJAN) paid him a courtesy visit at his GRA, Ikeja office on Tuesday, February 1, 2022.

Dr. Onyeali Ikpe, who appreciated the visit, took time to delve into the changes that stakeholders in the industry should come to terms with.

According to him, it is no longer the same story when advertising thrived during the industrial age as in the present situation, the world has embraced the digital age.

He noted that IMC practitioners must be in tune with the fact that advertising has evolved into brand consulting.

In his words: “I like the conversation today around branding because that is the only relevant thing. I started talking about this thing 20 years ago because I saw it. Branding is a core component of business existence because if you take out the brands out of the business, it dies”.

Giving examples of focusing on brands as against advertising, the advertising guru said the reason why Nigerian Breweries is still in existence is because of the Star and Guilder brands, in which if taken away, the company may die.

“What keeps them together is not advertising but the brand which is the soul of those element. Even for human beings, if you don’t understand this brand journey and that of consumer journey, you might not understand the brand,” he said.

Speaking further, Dr Onyeali Ikpe posited, “There is a manager for the industrial age and a manager for the information age and tech age. In the 90s when I joined Insight Communications, it was the industrial age, that is, where multinationals were relevant. As we speak now, the tech companies worldwide are making far more monies than the multinationals. Though, they may be small businesses but in terms of billing, they are ahead.

“At insight, we recognised 25 years ago that advertising will not serve us because advertising was relevant when there was industrial revolution. And during this time, there was mass production which must equate mass consumption and to induce mass consumption, you need mass communication. So, it was from mass communication, advertising came- which is attention, interest, desire and action.”

Insight Redefini Group CEO, Dr. Onyeali Ikpe

Going down the memory lane, Dr. Ikpe said people who are not conversant with InsightRedefini Group still know it as Insight communications- unaware of the fact it was Insight communications during the 90s.

“From Insight Communications, we had a Grey network affiliations. Before then, it was Bates. In early 2000, we went to WPP. However, that popular entity called Insight is one entity in the group and because it was the first and oldest (42 years in January 2022), it became synonymous with the group. So, when people say Insight Communications, they think it’s one company.

“I don’t know whether people know, but I know that it was insight Communications because that was the era of advertising. Now, in my estimation, advertising has since gone, though a lot of people will tell you they are into advertising- and I thank God they are still making a living out of it some how,” he averred.

He said the group has survived for 42 years and evolved over time to create various arms of the sub-sectors across the Integrated Marketing Communications spectrum which has become market leaders in their sub-sectors.

“Quadrant for Public Relations, MediaComm for media planning and strategy, which is the investment arm of the advertising practice, Media Perspective, Optimum Exposure for outdoor and LeoBurnet, which is a second line of creative agency of Insight is tasked to go through the soul of a human being to create communications.

Speaking earlier, the newly elected Chairman of BJAN, Clara Chinwe Okoro said the essence of the visit was to formally intimate stakeholders of the activities of the association starting with the World Consumer Rights Day slated for March 15, this year.

“Brand Journalists are thought leaders in the industry in terms of shaping perception about what is happening in the IMC space. We are journalists who cover the industry as such we are a bridge between the stakeholders and the consumers. They absorb what we read in terms of the information we put out in our different spaces and form their perception about those we write about or the brand that they interface with in the market.

“We actually hold a very strategic position. Unfortunately, we have not strongly communicated that to our stakeholders that the perceptions we put out in our writings have a lot of impact in the brand they drive and, in the way, their organisations are perceived from the writes up we put out. So, I think it is very necessary that there is more interface with stakeholders for us to be able to communicate to the public and to put out the right materials,” Clara said.

Other members of the brand journalists delegation were Lukman Ishau, Vice Chairman, Melvin Udosen, Treasurer, Adeyemi Adefemi, Financial Secretary and Amechi Obiakpu, Chief Information Officer (CIO). Others were Afolabi Idowu, immediate past Chairman, Elder Peter Jones and Winifred Bosa.

The visit was the first in the series of planned visits to stakeholders in the Industry by the exco to carry them along as working partners for the progress of the industry.

3 February 2022
6.6 Million Nigerians Become MTN Shareholders As Telco Rakes in N111.75bn

MTN Nigeria Communication Plc said it now has 6.6 million Nigerians as direct or indirect shareholders as it made N111.75bn from its share offer to Nigerians.

The telecommunications company said this in a statement titled ‘Results of the series 1 offer for sale of MTN Nigeria Communications Plc ordinary shares, first public offer via digital platform in Nigeria’.

The Chief Executive Officer, MTN Group, Ralph Mupita, said, “We are pleased that this offer has given so many Nigerians the opportunity to become owners of MTN Nigeria.

“With over 6.6 million Nigerians directly or indirectly becoming shareholders in MTN Nigeria, the objective of broadening the shareholder base and creating shared value has been achieved.”

The company said its offer was 139.47 per cent oversubscribed, leading to an allocation of an additional 86.25 million shares above the 575 million shares it had initially offered to the public.

It said it allotted 661.25 million shares at a fixed price of N169 per share.

MTN Nigeria said a total of 126,720 retail investors submitted valid applications and received full allotment.

It added that about 76 per cent of successful applicants via the digital platform were women, and 85 per cent of applicants were under 40.

The CEO, MTN Nigeria, Karl Toriola, said, “We are delighted to welcome so many new shareholders to the MTN family, up 11.6 times from the number before the offer.

“It has been inspiring to see so many Nigerians, many of whom are young, acquire shares for the first time, and use a digital platform to do so. This is the beginning of a journey to broaden our shareholding and there will be more opportunities to participate.”

The company said following the successful completion of the offer, MTN Group’s shareholding in MTN Nigeria reduced by 3.25 percentage points from 78.83 per cent to 75.58 per cent.

3 February 2022
SIFAX Group Spends N250m on CSR in 2021

SIFAX Group, a conglomerate with investment in Maritime, Aviation, Logistics, Oil & Gas, Financial Services and Hospitality, has spent over N250 million on corporate social responsibility (CSR) programmes across Nigeria in 2021.

The company’s CSR is focused primarily on education, health, economic empowerment (youth and women) and the physically-challenged.

On education and health, hundreds of indigent students enjoyed full scholarship while equipment and facilities were donated to public educational and health institutions. Individuals with medical emergencies also received financial support.

Youth and women economic empowerment also took a large chunk of the budget with skill acquisition trainings organized for unemployed youths and women across the country.

Business grants were also extended to those who completed the training programmes. Some targeted and disadvantaged poor households were also catered to as food items were donated to them on a monthly basis.

Various initiatives targeted at the physically-challenged children living with conditions like autism, down syndrome and the blind were also supported by the company in the course of the year.

Most of these projects were executed through its philanthropic arm, Ajoke Ayisat Afolabi Foundation (AAAF) which has offices in Lagos, Zaria and Umuahia.

Speaking on the 2021 CSR projects, Dr. Taiwo Afolabi, Group Executive Vice Chairman, SIFAX Group, said one of the key pillars of the company’s business philosophy is to positively impact humanity and the society in any economy where the company carries out its operations.

According to him: “Right from the inception of our company in 1988, we have integrated social impact into our business strategy. Our businesses are not designed for profit making alone. We see ourselves as a platform that support social causes that provide access to opportunities, engender social stability and economic prosperity. We are motivated to do more when we see the physical impact of these CSR projects on the beneficiaries who today run into thousands.”

Foluke Ademokun, Executive Coordinator, AAAF, on her own part, noted that the beneficiaries of the various programmes are making a judicious use of the opportunities, adding that the Foundation seeks to partner with more sponsors, both domestic and international, as well as other stakeholders, in order to touch more lives.

28 January 2022
Sanwo-Olu Commends Airtel Employees for Support During Peak of COVID-19 Pandemic

The Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu, has commended employees of Airtel Nigeria for donating the sum of N20 million from their personal income to support indigent residents of Lagos State during the peak of the COVID-19 pandemic in 2020.

Sanwo-Olu, who spoke yesterday (25/01/2002) when the Managing Director and Chief Executive Officer of Airtel Nigeria, Mr. Surendran Chemmenkotil, paid him a courtesy visit, said he appreciated the initiative and gesture of Airtel employees when they came forward during the heat of the pandemic to support the State government.

“I thank Airtel employees for their support during the heat of the pandemic and I am glad that we are now exiting the 4^th wave of the Coronavirus pandemic. Although Lagos has been the epicentre of the Coronavirus pandemic in Nigeria, we will be able to eradicate the virus from Lagos,” he said.

The Governor, who wished the Airtel CEO a successful tenure, also noted that the Lagos State Government will continue to promote and leverage on technology to accelerate economic growth as well as create prosperity for residents and indigenes of the State, saying technology is very important and a strong enabler in realizing the government’s agenda.

“A priority is the Lagos Smart City project as we are very persuaded to push forward technology. Many young people see technology as a platform to create, innovate and express their talents and we have a role as government to continue to create the enabling environment for this to thrive,” he noted.

L-R: Managing Director and Chief Executive Officer, CMC Connect, Mr. Yomi Badejo- Okusanya; Head Public Relations, Airtel Nigeria, Mr. Erhumu Bayagbon; Director, Airtel Business, Ogo Ofomata; Managing Director and Chief Executive Officer, Airtel Nigeria, Surendran Chemmenkotil; Lagos State Governor, Mr.Babajide Sanwo-Olu; Deputy Governor Lagos State, Mr. Obafemi Hamzat; Secretary to the Lagos State Government, Mrs. Folashade Sherifat Jaji and Vice President (VP), Retail Sales, Airtel Nigeria, Mr. Dokun Oye during a courtesy visit to the Governor at the state house Marina, Lagos on Tuesday, January 25th, 2022

Speaking earlier, the Managing Director and Chief Executive Officer of Airtel Nigeria, Surendran Chemmenkotil, commended Sanwo-Olu for creating an enabling environment for business to thrive in the State, noting that Airtel will continue to collaborate with the State government to create opportunities for residents and indigenes of the State.

“Historically, we have enjoyed a robust relationship with Lagos and we wish to continue to collaborate with Lagos State to empower more residents and indigenes of the State. Mr. Governor, Lagos is important to our operations in Nigeria. As major stakeholders, we will continue to seek collaborative opportunities with Lagos State just as we will continue to empower and support the indigenes and residents of Lagos State,” he said.

The Airtel CEO was accompanied by the company’s Enterprise (Airtel Business Director), Ogo Ofomata; Vice President, Retail Sales, Oladokun Oye and Head of Public Relations, Erhumu Bayagbon.

26 January 2022
Are Nigerians Buying Rice The Right Way?

How would you react to the question, are you buying the right rice? This question is pertinent as focus increasingly shifts to the quality and hygienic condition of rice as a guiding factor when purchasing it.

When you purchase rice, your objective is to buy healthy rice. Healthy rice is safe to consume but you need to consider a few factors. Especially when buying loose from open markets and nearby stores.

The plethora of rice brands in the market has offered consumers a variety of choices. More than the challenge of identifying the rice is to identify the right quality. Some are sold in loose form as seen in basins and loose containers while others are packaged. The form of presentation whether loose or packaged in the trade impacts negatively or positively on the quality of rice.

When rice is sold in the loose form, a lot of factors affect it negatively.

Firstly, the ageing of rice in loose form which can affect its physical and chemical properties and in turn its quality is a major consideration. Different rice brands have expiry dates which buyers of the commodities in cups, plastic containers and basins of various sizes are not aware of because it has been removed from the bags. It is therefore possible that many consumers buy rice that has expired, with the very high risk of consuming unwholesome products whose quality cannot be guaranteed and are therefore not safe for human consumption.

Another factor is the condition of the local market where rice is sold in. When sold in open market in loose form, there are very high chances of cross contamination by other food items like meat, vegetable fruits, corn etc as all items are sold near each other. The rice can be contaminated by stone, dust, husk and other foreign matters thereby impacting on the quality.

It can also be exposed to micro-organisms, rodents, insects and other disease-causing pathogens. While some of these contaminants may be removed during washing at home, not all of them may be removed. In recent times, where the scare of diseases has heightened, these factors are worth considering.

Furthermore, displaying rice in open containers that are not hygienic and on floors is very inimical to human health. In Nigeria, the World Health Organization estimates that more than 200,000 people die of food poisoning yearly from food-borne pathogens (especially Escherichia coli and Salmonella). These deaths are caused by contaminated foods through improper storage, processing, preservation, and handling.

When rice is sold loose, the consumer will be left second guessing the brand and may not be able to make informed choices. The unsuspecting consumer is also vulnerable to retailers who may want to capitalize on this to sell low quality rice for the price of high-quality rice.

Rice manufacturers take all necessary precautions to ensure quality and safety but exposure or loose rice at the market by retailers can compromise quality.

Big Bull Rice is a premium quality Parboiled rice, totally made in Nigeria. It is sortex cleaned,stone free and has a high swelling index. The production of Big Bull Rice goes through extreme measures to ensure safety. When you eat Big Bull Rice, you can be assured of the great lengths taken to ensure your health is safe.

It has been introduced in pocket friendly prices for each consumer – in packs as small as 750g and 2.25kg, so that everyone has access to quality rice without worrying about other irritants. The consumers need not worry about contamination and assured of the original Big Bull quality!

15 January 2022
Edible Oils: They are Not All Created Equal

You probably have used edible oil in lots of your homemade meals. But have you ever paused and wondered what is it made of and what sets edible oils apart from one another? How does your oil compare with others in the market in terms of health benefits and is there a merit in switching the edible oil?

There are plenty of choices of variety of edible oils available in the market, the most common being Palm oil, Vegetable oil, Soyabean oil, , Groundnut oil, Olive oil ,coconut oils etc. While each of them may look the same, but scientifically, they are all very different from each other – in their fundamental construct and health benefits they provide.

Scientifically, all edible oils are 100% Fatty acids – This is true for all types of oils! However, what makes them different are the type of Fats they contain, and it makes them good or bad for you. The fatty acids of all edible oils belong to one of the following – Saturated Fatty acids (SFA), Mono-unsaturated Fatty Acids (MUFA) or Poly-Unsaturated Fatty acids (PUFA), depending upon the saturation of the Chemical bonds inside them. All edible oils essentially contains a different proportion of the above 3 fatty acids and these fatty acids aren’t built alike! There are plenty of scientific literature available to understand these Fatty acids and their impact on the human body..

Saturated Fatty acids (SFA), sometimes called solid fats have been suggested to be Bad Fats – They have been associated with increased levels of bad (LDL) Cholesterol in people. LDL Cholesterol is associated with increased risk of heart diseases and stroke. They may increase health risks if a person consumes too much over a long period. Many health authorities, such as the Academy of Nutrition and Dietetics, the British Dietetic Association, American Heart Association, the World Heart Federation, the British National Health Service, amongst others advise that saturated fat is a risk factor for cardiovascular diseases and their consumption should be minimized.

On the other hand, Unsaturated fatty acids are liquid at room temperature and may be either Monounsaturated Fatty acids (MUFA) or Polyunsaturated Fatty acids (PUFA). They are defined by the un-saturation in their chemical structure. Contrary to Saturated Fats, unsaturated Fatty acids have been associated with lowered risks on hearts – Many careful studies have found that replacing saturated fats with unsaturated fats in the diet reduces risk of cardiovascular diseases, diabetes, or strokes. These studies prompted many medical organizations and public health departments, including the World Health Organization to officially issue that advice. The un-saturated fats help protect your heart by maintaining levels of “good” HDL cholesterol while reducing levels of “bad” LDL cholesterol in your blood. PUFA are mainly of 2 types – Omega 3 or Omega 6, the benefits of which are well documented. The more un-saturated fats an oil has, is better for consumption.

As evident, the type of fat in the diet is important – They have an impact on growth and development, heart and body functions, brain functions and general well being. .

Also, the World Health Organization estimates that every year trans-fat intake leads to more than 500,000 deaths of people from cardiovascular disease. “Trans fats increases levels of LDL-cholesterol, a well-accepted biomarker for cardiovascular disease risk, and decreases levels of HDL-cholesterol, which carry away cholesterol from arteries and transport it to the liver, that secretes it into the bile”

It is common to find vegetable oil brands made from refined Palm Olein marketed as Vegetable oil in the Nigerian market. To put it in perspective, the refined Palm Olein sold openly, is crude palm oil that has undergone physical refining or chemical refining and fractionation. The various brands of vegetable oils made from Palm Olein all say that it is healthy but is Palm oil really healthy?

Palm Olein is rich in saturated fatty acids and is often considered as being atherogenic (food High in saturated) nutritionally. According to a report by the Nutrition Information Centre, Stellenboch, Vegetable oils contain about 10% polyunsaturated fat (PUFA), 48% monounsaturated fat (MUFA) and upto a whopping 52% Saturated fat (SFA)); Compare that with Soyabean oil – another commonly available oil in Nigerian market which has 61% polyunsaturated fat (PUFA) , 24% monounsaturated fat (MUFA) and only 15% saturated fat (SFA). This simple comparison makes it amply clear of which oil is healthier and should be adopted by Nigerian consumers for their overall and their Heart well-being.

A healthy body is needed to drive all of life aspirations; healthy oil consumption habit starts with a step in the direction of Golden Terra Soya Oil. Golden Terra Soya oil has recently emerged to be the leading SoyaBean oil in Nigerian market with its increasing presence across Nigeria. It is 100% pure Soya oil, totally sourced and manufactured in Nigeria and should be adopted by every Nigerian for a healthy life!.

12 January 2022
Coca-Cola Appoints Bunmi Adeniba as new Marketing Director

Bunmi Adeniba, an experienced marketing professional and commercial operator with a strong bias for using consumer insights and her understanding of an end-to-end manufacturing process to harness value for multiple stakeholders, has been appointed as the new Marketing Director of Coca-Cola Nigeria Plc.

Prior to her current appointment, Mrs. Adeniba, the Acting President of Advertisers Association of Nigeria (ADVAN), was the Marketing Director of Unilever Nigeria.

She is also the Vice-President of the World Federation of Advertisers (WFA). The WFA Executive Committee brings together senior marketers and public affairs executives to reflect the dual mission of helping marketers be more effective and efficient in terms of their marketing spend, while helping brand owners protect and future-proof their license to operate through advocacy and effective advertising self-regulation.

Mrs. Adeniba has worked in several other FMCG companies in her chequered career trajectory. She is a customer focused professional with broad spectrum, cross functional work experience spanning brand building, new products and category development, supply chain/quality management and quality systems set up.

Her ability to quickly understand, interpret and apply strategic directions is believed to be highly remarkable and commendable. She has a great deposition and always willing to learn and share knowledge.

Bunmi Adeniba

Mrs. Adeniba’s over two decades experience spans across brand building, innovation design, and quality management system.

She has an MBA from Hult Business School, Boston and a certificate of Strategic Marketing Management from Harvard Business School, Massachusetts, USA.

She is a 2018 CSC Leader, a global programme for exceptional senior leaders selected from government, businesses and NGOs across the 53 countries of the commonwealth

Mrs. Adeniba is passionate about women empowerment and raising phenomenal leaders in the marketplace.

She has been recognised as one of the fifty Ladies in corporate Nigeria by Leading Ladies Africa and Brand communicator’s top 50 women in marketing and communication in Nigeria.

Mrs. Adeniba holds membership with the Institute of Directors (IOD), National institute of Marketing (NIMN), Chartered institute of Marketing UK (MCIM), Advertising Practitioners Council of Nigeria (APCON), and American Society of Quality (ASQ). She is a Certified Digital Marketing Professional (CDMP) from the Digital Marketing Institute.

8 January 2022
Coca-Cola, Bigi, Others To Cost More as FG Imposes N10/litre ‘Sugar Tax’ on Carbonated Drinks

The Federal Government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages.

Excise duty is a form of tax imposed on the production, licensing and sale of goods.

Zainab Ahmed, minister of finance, budget and national planning, said this during the public presentation of the 2022 Appropriation Act on Wednesday in Abuja.

According to her, the new policy introduced is in the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021.

In 2019, Zainab Ahmed, the minister of finance, had announced that the government may introduce excise duty on carbonated drinks.

In 2020, Hameed Ali, comptroller-general of the Nigeria Customs Service (NCS), had proposed the collection of excise duty on soft drinks.

He had also put forward the same proposal in 2021 at an interactive session on the 2022-2024 medium-term expenditure framework (MTEF), organised by the house of representatives committee on finance.

Apart from the new ‘Sugar Tax’ in section 17, Ahmed said the 2021 finance Act also raised excise duties and revenues for the health sector.

The minister said the excise duty on soft drinks would discourage excessive consumption of sugar beverages which contributes to diabetes, obesity among others.

However, checks showed that there are other sources of sugar intake, including alcoholic drinks, biscuits, buns, cakes, dairy products, and savoury food.

“There’s now an excise duty of N10/ per litre imposed on all non-alcoholic and sweetened beverages,” she said.

“And this is to discourage excessive consumption of sugar in beverages which contributes to a number of health conditions including diabetes and obesity.

“But also used to raise excise duties and revenues for health-related and other critical expenditures.

“This is in line also with the 2022 budget priorities.”

5 January 2022
CHI Limited Charges Nigerians To Start The Year The Right Way

CHI Limited, Nigeria’s leading fruit juice, value added dairy and snacks manufacturer has charged Nigerians to start the year 2022 the right way.

The company reiterated that while 2021 was quite a spectacular year, despite the uncertainties the COVID-19 pandemic brought; in the wake of the new year, consumers have been given a fresh opportunity to set the right foundation for the kind of year that they desire.

According to CHI, “With every end, comes a new beginning; and every new beginning deserves a great start. We look back at the past year with the warmest of memories, while looking ahead for even greater opportunities; and in this way,

“Starting right involves goal setting and planning. Goals such as, taking the right amount of fruits and vegetables, staying fit and healthy with a workout routine, ensure spending is within budget, always have something for the rainy day, etc. The best time to begin with this is now.

“One key goal that needs to remain at the centre is a focus on our health and wellbeing.

CHI Limited therefore charged Nigerians to prioritise their health and wellness by taking more pro-active steps in what they consume, adding that individuals owe it to themselves to live a healthy lifestyle.

The company urges Nigerians to take charge of their health by consuming the right amount of fruits and vegetables every day, maintain good hygiene and also take advantage of its refreshing and nourishing Chivita and Hollandia brands which have essential nutrients that help the body strengthen its immunity.

“As we look forward to a healthy and prosperous 2022, the company restates its commitment to being a part of the journey of success in the lives of consumers by enabling healthy living and happier lives for all Nigerians. It will continue to enlighten and promote everyday wellness through its range of healthy, nutritious and high-quality fruit juices and dairy products.”

CHI Limited’s Marketing Director, Toyin Nnodi stated that, going into 2022, Nigerians should take stock of the year that is outgone, especially the challenges it presented and the lessons it offered, with a view to exploring the opportunities the New Year would bring in different areas of life.

“Together, we can continue to improve and achieve more, despite the challenges we may experience, with renewed hope and a positive outlook for the New Year. We wish every Nigerian a safe, healthy and prosperous new year ahead,” she stated.

2 January 2022
Mouka Changes Ownership To Dolidol, Reinforces Market Leadership

Mouka, Nigeria’s leading brand of mattresses, pillows and other bedding products, has announced its change of ownership to Dolidol, the market leader in Francophone Africa based out of Morocco.

According to the CEO of Mouka, Mr Raymond Murphy, this transaction sets the scene for bigger and greater things for the Mouka brand with this affiliation with a regional market leader.

“In the light of this new development, Dolidol, a Moroccan market leader in the mattress space, will bring to the fore significant foam science, technical and engineering expertise to Mouka. As the market leader in Francophone Africa, Dolidol’s expertise will also be introduced to boost Mouka’s operations and the quality of its product portfolio,” Murphy said.

The Chief Operations Officer of Mouka, Mr Femi Fapohunda, also shared his excitement about this change in ownership.

“With Dolidol’s stake in Mouka, our consumers and trade partners should look forward to new and ground-breaking innovations due to the technological expertise Dolidol brings onboard. In addition, from an operational point of view, we look forward to improved productivity and product quality that meet consumer needs and exceed their expectations.” Fapohunda said.

Dimeji Osingunwa, Mouka’s Chief Commercial Officer and lead strategist behind Mouka’s unrivalled distribution of approximately 2,000 branded outlets nationwide shared his views on this transaction.

“I believe this strategic ownership will create additional investments in the expansion of the Mouka footprint within Nigeria and beyond our borders. I look forward to the synergy between the Mouka and Dolidol in deploying a world-class route to market strategy,” Dimeji said.

According to the Head of Human Resources of Mouka, Ifeoma, Okoruen, the new owners of Mouka had positively commented on the capability of the Mouka team.

“They had nothing but positive comments and compliments to make about the team across all job grade levels. They have also shown keen interest in the growth and development of the Mouka staff,” Ifeoma said.

Investigation into the basis for this transaction reveals that this was indeed a win-win situation for both parties.

Dolidol and DPI also expressed excitement about the future of this transaction.

The CEO of Dolidol, Mohamed Lazaar, stated, “I believe the acquisition of Mouka will allow Dolidol to strengthen its presence in the continent and complement Mouka’s growth in the region with an addressable market of around 200 million Nigerians.”

Mr Walid Mougou also gave some additional insights into the strategic plans of Dolidol.

According to him, Dolidol’s plans are centred around massive investment in Mouka, which will result in the development of the brand, people development, and the creation of more job opportunities.

Speaking on this, Ms Sofiane Lahmar, a Partner at Development Partners International (DPI), said, “As the most populous country in Africa, Nigeria shares many of the same trends as the rest of the continent, including positive demographics, a fast-growing middle class and rising consumer-spend. We remain confident in the future of the business and look forward to working with both management teams to execute the company’s ambitious strategy and vision.”

31 December 2021