The Umuahia, Abia State-based Golden Guinea Breweries Plc has released its unaudited financial statements for the year ended September 30th, 2020.
The brewer recorded Revenue of N424m in the period under review while the Net Assets grew by 40.2% from N2.7bn to N3.8bn.
Notably, Profits before tax and Profit after tax stood at N18.88mn.
The company listed Total Assets of N5.4bn, Creditors, and Payables of N3.01bn and Total Equity of N3.8bn.
The principal activities of the company include brewing, bottling, and marketing of Golden Guinea lager beer, Malta, Eagle Stout and Bergedorf lager beer.
Golden Guinea Breweries Plc was incorporated as a private limited liability company on 26th September 1962 as Independence Brewery Limited. The name was changed to Golden Guinea Breweries Ltd on 6th May 1971 and the company became a Public Limited Liability company in 1978.
The company introduced Eagle Stout to the market in 1967 but between 1967 and 1970, further production was hampered by the Nigerian Civil War. In 1971, the company changed its name to the current one Golden Guinea Breweries. In 1975, the company was revamped and an extension was built by the German firm Coutinho Caro which later participated in an equity offering issued by the firm.
The company holds franchise rights to produce and market Golden Guinea Beer, Holsten Brewery’s Bergedorf premium lager beer and Bergedorf Malta in Nigeria.
Majority shares in the company were later purchased by Pan Martine Investments Ltd promoted by Mr. Okey Nzenwa.
Despite the gradual easing of the lockdown, the economy continued to experience a slowdown due to the disruptive effects of COVID-19 on consumption, investment and trade.
Source: NBS, Vetiva Research
Compensatory cuts restrain oil sectorgrowth
To begin with, the oil sector slipped by 13.89% y/y in Q3’20 compared to a 6.49% y/y growth in Q3’19 and a 6.63% y/y decline in Q2’20. Held back by
improved compliance with OPEC+ production cuts, the country had to compensate for earlier overproduction by producing lower than necessary. This dragged crude output to 1.67mb/d in Q3’20 (Q2’20: 1.81mb/d). As a result, the sector’s contribution to growth reduced to 8.73% in Q3’20 from 9.77% and 8.93% in Q3’19 and Q2’20, respectively.
Due to the impact of structural reforms on the business environment, the non–oil sector slipped by 2.51% y/y in Q3’20 (Q3’19: +1.85% y/y). Both the industrial (Q3’20: -6.12% y/y) and the services (Q3’20: -5.49% y/y) sectors relapsed given the impact of the pandemic on supply chains, foreign exchange market and business operations.
However, the agricultural sector remained resilient, with output growth of 1.39% y/y (Q3’19: 1.87% y/y, Q2’20: 1.58% y/y) due to trade policy and public investment drive.
Trade continued to suffer from social distancing restrictions and the continued closure of land borders. The pandemic compounded woes in the sector as supply chain disruptions dragged the sector by 12.12% y/y in Q3’20 (Q2’20: – 16.59% y/y). Elsewhere, the transport sector slumped by 42.98% y/y (Q2’20:-49.23% y/y) despite the lifting of inter-state movement restrictions.
The real estate sector slumped by 13.40% y/y (Q2’20: -21.99% y/y) due to continued pressure on consumer wallets that limited the purchase of big-ticket items.
Meanwhile, the ICT sector continued to outperform other segments, recording a double-digit growth of 14.56% y/y (Q2’20: 15.09% y/y), buoyed by improved adoption of digital services and change in business continuity plans. However, growth in the Financial Services sector slowed to 3.21% y/y in Q3’20 (Q2’20: 18.49% y/y) due to the high base from Q3’19 and cautious lending drive given the spate of loan restructurings.
Headwinds drag the tangiblesector
The tangible sector slumped by 1.91% y/y in Q3’20 (Q2’20: -5.40% y/y), pummeled by the external shocks and reforms in the downstream sector. Construction and agriculture sectors grew by 2.84% y/y and 1.39% y/y respectively while the manufacturing and mining sectors fell by 1.51% y/y and 13.22% y/y respectively.
The border closure policy has supported growth in agriculture, which has seen improved funding and interventions. This improved the sector’s contribution to growth to 30.77% in Q3’20 from 24.65% in Q2’20 and 29.25% in Q3’19.
The sector was however marred by missed planting seasons during the lockdown and adverse weather conditions. Due to the impact of the pandemic and flooding on output, the country has been identified as a potential famine hotspot by the Food and Agricultural Organization (FAO).
The mining sector was held back by the slump in external demand and the presence of oil production quotas. The sector slumped by 13.22% y/y, contributing less to GDP in Q3’20 (8.91%) than it did in Q3’19 (9.90%).
Elsewhere, the commencement of suspended projects and budget execution efforts gave the construction sector a quick recovery. Growing by 2.84% y/y and 11.54% q/q, the construction sector witnessed a boost from the reopening of the economy. Thus, the sector contributed a bit more to GDP in Q3’20 (3.21%) than it did in Q3’19 (3.01%).
Finally, manufacturing output fell by 1.51% y/y in Q3’20 due to disruption in supply chains, weak demand and double-step devaluation of the Naira. The CBN’s Purchasing Managers Index surveys revealed that there was no expansion in production levels in Q2’20 and Q3’20. Our attribution analysis shows the sub-sectors that dragged the overall sector are the oil refining (- 68.29%), textile (-12.12% y/y) and non-metallic products (-12.23%).
However, the reopening of economies hastened recovery in the food (5.57% y/y) and cement (11.96% y/y) sub-sectors while the chemical & pharmaceutical products (6.60% y/y) sub-sector maintained its expansion path due to its role in fighting the pandemic. We note that despite the reopening of the economy, the manufacturing sector was faced with higher cost obligations, supply chain disruptions and weak consumer demand.
Of all 13 subsectors, 9 sectors recorded negative output growth, with the worst performance from the refining (-68.29%), electronics (-20.12%) and non–metallic (-12.23%) sub-sectors.
Performance of selectedsectors
Source: NBS, Vetiva Research
Output losses to extend recession intoQ4’20
Although the rate of COVID-19 infections and deaths are not as high as in advanced economies, the butterfly effect of the pandemic on the economy is profound. The economy is on course to witness its deepest full-year contraction in at least a decade as the pandemic is a tripartite shock to demand, supply and the financial sector.
With the current pace of job losses and rising inflation, weak consumer demand has propelled re-packaging of products to reflect the downbeat state of consumer wallets.
We expect the economic downturn to trickle into Q4’20 due to the slowdown in economic activities brought about by the nationwide END SARS protests. Roadblocks, widespread vandalism and looting that characterized the protests resulted in higher logistics costs and output losses and increased insurance claims.
Alongside the scars from the pandemic, these factors are expected to drag the overall economy by 2.64% y/y in Q4’20, culminating in a -2.68% y/y growth outcome for FY’20.
Shoprite Nigeria’s supermarkets have offered early Black Friday deals and big discounts on everyday essentials as customers are increasingly looking for value, given the pressure many households are currently experiencing.
The Shoprite bumper black Friday offer begins from 25th November and ends in 29th November 2020 and it’s a pan-Nigeria value-added offer.
According to the Shoprite statement,
“In response to COVID-19 pandemic, Shoprite will for the first time offer early Black Friday deals and keep the deals valid for longer, to allow customers more time to plan and shop, and to prevent overcrowding.”
The statement further stated that some of the great deals on offer include Coca-Cola, Fanta, Sprite products, Power Vegetable Cooking, Ariel Washing Powder and many other products.
Stringent hygiene and sanitizing protocols will be in place at all Shoprite supermarkets in Nigeria to help protect customers and employees as far as possible.
These include, but are not restricted to, the use of face masks, hand sanitizer, social distancing and limited entry where necessary to avoid overcrowding. Customers are encouraged to pay by card and to capitalize on the extended trading hours to make the most of the deep-cut specials that will be on offer.
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) of Nigeria concluded its two-day policy meeting which is the last for the year 2020 and has voted to keep the Monetary Policy Rate (MPR), at 11.5%.
This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting on Tuesday. Other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged.
A new report from Juniper Research has found that there will be almost 13.5 billion smart home devices in active use by 2025, compared to an expected 7.4 billion at year-end 2020.
Smart Home Devices to Exceed 13 billion in Active Use by 2025, with Entertainment Devices Leading the Way – www.brandspurng.com
Smart entertainment devices take the bulk of revenue attributable to smart home devices, as over $230 billion in 2025. Voice assistant capabilities are an increasingly common way to control digital entertainment devices, from smart speakers to TVs and games consoles; linking them into the smart home ecosystem.
This voice assistant proliferation means that the smart home will become increasingly dependent on discrete purchases, rather than holistic smart home packages that were common in the early days of the market. 94% of devices in use will be from individual purchases, with less than 50 million households globally having a smart home subscription in 2025.
Smart Meter Roll-outs Need Further Support
The new report, Smart Home Devices: Business Models, Market Trends & Forecasts 2020-2025, notes that the smart metering market will grow slowly, at an average rate of 2% per year worldwide, compared to 12% for smart home entertainment devices. Juniper Research notes that smart meters require continued support from regulatory authorities to move much further, particularly outside Europe.
Device Functionality Still Trumps Technology
Despite growing to 3.9 billion active devices in use in 2025, the research notes that smart home automation will only be used by 11% of households globally in 2025. These devices, primarily lightbulbs and locks, are not ones that consumers will need to replace on a regular basis.
“The value in this segment is being able to encourage use throughout the home; leading to a high level of value for each adopter,” remarked research co-author James Moar. “Outside of entertainment, adoption will come more from vendors making them the default option, rather than the technology encouraging replacement of utilitarian devices.”
UACN Property Development Company (UPDC) Plc from UAC of Nigeria (UACN) – www.brandspurng.com
Custodian Investment and UACN had signed a binding agreement on the divestment of UACN’s 51 per cent majority equity stake in UPDC to Custodian Investment. The transaction included the sale of 9.47 billion ordinary shares of UPDC held by UACN, representing 51 per cent of UPDC’s issued share capital to Custodian.
Under the agreement, the shares sale will be transferred in two tranches with the initial sale of 946.56 million shares, representing 5.10 per cent of the issued share capital of UPDC, on the execution of binding transaction agreements. Then, the subsequent sale of 8.52 billion shares, representing 45.90 per cent of the issued share capital of UPDC upon receipt of requisite approvals.
Regulatory documents indicated that the second tranche of 8.52 billion ordinary shares of 50 kobo each, representing 45.90 per cent, had been transferred to Custodian Investment, concluding the 51 per cent divestment deal.
UACN had earlier in the first tranche transferred 946.56 million ordinary shares of 50 kobo each or 5.10 per cent equity stake to Custodian Investment.
The cross deals for the transfers were done as off-market deals through the negotiated trade window of the Nigerian Stock Exchange (NSE).
The transfer placed the divestment on a fast-track and market analysts expected the divestment to be concluded within this year.
Both parties to the transaction had commended the partnership between Custodian and UACN, noting that the deal would achieve both companies’ respective objectives in the real estate industry. It was also described as a significant milestone that aligned with UACN’s strategy to focus on its core businesses.
Group Managing Director, Custodian Investment, Wole Oshin, said Custodian was excited about the possibilities arising from the partnership with UAC which provides multiple levers for value creation.
He said the rationale for the transaction was that Custodian and UAC share the view that their ambitions for capturing the opportunity in the real estate industry will be better achieved working in partnership.
“UPDC is one of Nigeria’s leading real estate development companies, having completed several landmark residential and commercial developments over the past twenty years. This transaction will provide Custodian with a platform to capture arising real estate opportunities. It also immediately provides recurring cash flow visibility and attractive yields as a result of its direct exposure to Nigeria’s leading real estate investment trust (UPDC REIT) with a track record of profitability and annual dividend distribution which offers a good compliment for our product portfolio,” Oshin said.
He expressed confidence that the recent recapitalisation of UPDC, significant reduction in finance costs, and recently reconstituted leadership have repositioned the company to operate sustainably and capture growth opportunities aimed at increasing stakeholder value going forward.
Group Managing Director, UAC of Nigeria (UACN) Plc, Folasope Aiyesimoju, said the transaction was a significant step in achieving the group’s objectives for UPDC, noting that in 2018, the board and management of UACN embarked on a strategic review to evaluate the performance of the company and its subsidiaries.
According to him, UACN’s objective was to achieve sustainable positive financial performance from existing operations and enable management focus on businesses that align with its strategy. In reviewing UPDC, the board weighed the long-term opportunities in the Nigerian real estate sector against the fundamental differences between the cash flow profile and capital needs of UPDC and those of the other entities in UACN’s portfolio. Following its review, the board concluded that it would be in the best interest of UACN to exit its interest in the real estate sector, allowing UPDC to operate as a standalone legal entity, free to source appropriately structured capital and to unlock value for its shareholders.
In September 2019, the boards of directors of UACN and UPDC jointly announced three significant strategic initiatives aimed at strengthening UPDC and positioning the company to operate as a standalone entity. This included a rights issue to recapitalise the business, plans for UACN to transfer UACN’s equity interest in UPDC pro-rata to UAC’s shareholders (UPDC unbundling), and plans for UPDC to unbundle the UPDC REIT to its shareholders (UPDC REIT unbundling). The N16 billion UPDC rights issue was successfully completed in April 2020, proceeds of which were used to reduce borrowing costs and significantly improve UPDC’s capital position.
“In the process of progressing the unbundling initiatives, UACN received a credible offer from Custodian. The terms of the offer compelled the board to re-evaluate the planned approach to deconsolidate UPDC and influenced the board’s decision to proceed with the sale of a portion of UACN’s interest in UPDC to Custodian, effectively putting an end to the UPDC unbundling. We are delighted about the positive impact that a strong anchor shareholder like Custodian will have on UPDC and are focused on ensuring a smooth transition,” Aiyesimoju said.
In a new study released today, researchers say that land inequality is rising in most countries. Worse, new measures and analysis prove that land inequality is significantly higher than previously recorded, with data reporting a 41 per cent increase compared to traditional census data.
New report reveals land inequality is worse than we thought and is fueling other inequalities – www.brandspurng.com
The report, Uneven Ground: land inequality at the heart of unequal societies, is the first of its kind, shedding new light on the scale and speed of this growing phenomenon and providing the most comprehensive picture available today. The report was informed by 17 specially commissioned research papers as well as analysis of existing data and literature under a wide partnership led by the International Land Coalition, and in close collaboration with Oxfam.
“In the framework of this project, a new way to measure land inequality was developed that goes beyond land size distribution captured through traditional agricultural census.” said Ward Anseeuw, co-author of the report and coordinator of the initiative.
Historically, methods to measure land inequality excluded vital pieces of information, such as the value of land, multiple ownership and landlessness, as well as the control a person or an entity has over it. “These findings radically alter our understanding of the extent and far-reaching consequences land inequality has, proving that not only is it a bigger problem than we thought but it’s undermining the stability and development of sustainable societies,” Anseeuw added.
The shocking state of land inequality
New measurements show that the top 10 per cent of the rural population captures 60 per cent of agricultural land value, while the bottom 50 percent of the rural populations only control 3 per cent of land value.
The study finds that land inequality directly threatensthe livelihoods of an estimated 2.5 billion people involved in smallholder agriculture, as well the world’s poorest 1.4 billion people, most of whom depend largely on agriculture for their livelihoods.
“Growing inequality is the greatest obstacle to poverty eradication; in countries like Guatemala, extreme inequality costs lives,” asserts Oxfam Guatemala Country Director, Ana María Mendez. “In rural Guatemala, extreme land inequality undermines the rights and livelihoods of indigenous and small-farmer communities and exacerbates the climate crisis. Today, as we confront the coronavirus pandemic and catastrophic hurricanes fueled by climate change, the impact of land inequality is even more stark, and the imperative to tackle the problem is urgent” she added.
Hidden hands – the unseen drivers of land inequality
Global inequality experts blame the upward trend of land inequality partly on the increased interest from corporate and financial actors, such as investment funds, in agricultural land investments. As corporate and financial investments grow, ownership and control of land becomes more concentrated and increasingly opaque.
Today, the largest 1 per cent of farms operate more than 70 per cent of the world’s farmland and are integrated into the corporate food system, while over 80 per cent are smallholdings of less than two hectares that are generally excluded from global food chains. This phenomenon has even reached European shores with less than 3 per cent of farms now accounting for more than half of the farmed land in the EU.
Land inequality is central to other forms of inequality, and to many global crises and trends
The report further brings new evidence to light on how tackling land inequality is imperative to effectively respond to the most pressing challenges of our times and has the potential to deliver significant positive outcomes for humanity and the planet. If not addressed and the trend continues, increasing land inequality will have significant negative consequences for all societies, on economic and social development, on the environment and on democracy and peace.Yet the authors insist that land concentration is not inevitable.
“What we’re seeing is that land inequality is fundamentally a product of elite control, corporate interests, and political choices. And although the importance of land inequality is widely accepted, the tools to address it remain weakly implemented and vested interests in existing land distribution patterns, hard to shift,” said Giulia Baldinelli of ILC and co-author of the report.
Nevertheless, the study finds that change is necessary and the urgency of addressing land inequality is fuelled by the same urgency with which people are demanding action on contemporary global crises.
“As we move towards a post-Covid world, we will see increased pressure for fast economic gain at the expense of people and nature,” Mike Taylor, Director of the International Land Coalition Secretariat warned. Adding, “there is always, however, a more inclusive path to re-building our economies, that emphasises sustainable use of natural resources, respects human rights and addresses systemic causes of inequality.”
YouTube is this week (Monday 23 to Friday 27 November) holding its first virtual YouTube Black Africa Creators Week, a week dedicated to engaging, educating and inspiring African creators to grow on the platform.
Kay Ngonyama – www.brandspurng.com
Highlights of the 1-week program include expert-led masterclasses covering topics like assessing channel performance and engaging a community, and understanding YouTube’s monetisation policies, among others.
Eric Okafor – www.brandspurng.com
The programme also includes a creator spotlight talk with Mark Angel, Africa’s most subscribed endemic creator, YouTube training courses, and peer-driven open conversations aimed at improving creator collaboration and knowledge sharing.
YouTube will also celebrate creators through the presentation of Play Button awards to Dodos Uvieghara, Eric Okafor, and Kay Ngonyama whose channels have crossed the 100,000 subscriber milestone.
Dodos Uvieghara – www.brandspurng.com
This region-wide virtual initiative, says Alex Okosi, MD, Emerging Markets, YouTube EMEA, demonstrates YouTube’s commitment to creators and artists in the region.
“Over the years we have built and nurtured strong relationships with Africa’s storytellers, and provided them with a platform to share their stories with the world,” says Okosi. “Top African creators and channels like Mark Angel Comedy, DJ Arch Jnr, Churchill Show and many others have grown from a handful of followers to having millions of fans globally.
“We remain committed to amplifying Black voices and providing a platform where Black African creators can thrive,” Okosi says.
YouTube Black Africa Creators Week will conclude with a 2-hour livestream closing event to celebrate African creativity. The event will feature music performances by Fireboy, Niniola, Reekado Banks, Sauti Sol, Sho Madjozi, and dance showcases from Dream Catchers, Ikorodu Bois, Triplet Ghetto Kids. It will be hosted by YouTube creator, Akah Nnani. The livestream event will be held on Friday, November 27 at 5pm GMT and can be viewed here: https://goo.gle/africacreatorweeklivestream
Launched in May 2005, YouTube is the world’s most popular online video community allowing billions of people to discover, watch and share video. YouTube provides a forum for people to connect, inform and inspire others across the globe and acts as a distribution platform for original content creators and advertisers large and small. YouTube is a Google company.
The Minister of Petroleum Resources, Chief Timipre Sylva will commission a 5,000 barrels per day (BPD) modular refinery located in Ibigwe, Imo State on 24 November 2020.
Professional roller-skater Nigerian born British Tinuke’s Orbit (aka Tinuke Oyediran), age 27 years has broken the record for most cartwheels on roller skates in one minute with 30 and the most spins on e-skates in one minute with 70 in celebration of Guinness World Records Day 2020.
Polo Avenue, Nigeria’s foremost luxury fashion destination, has received exclusive rights to retail Gucci Ready-to-Wear clothing in Nigeria. Polo Avenue has so far successfully established itself as the gatekeeper for luxury brands in West Africa.
Star Radler premium tasting beer has just unleashed the next best antidote for thirst with its double refreshment offering. The flavoured alcoholic beer unveiled its new look and new red fruit variant this October.
The Ministry of Tourism, Arts and Culture has designed an eligibility form for the 1 billion seed capital released by the Lagos State government in order for interested practitioners to have access to the fund.
While the International Monetary Fund acknowledges the damaging recession effects of Covid-19 in Africa the economic outlook for the continent remains optimistic, as the introduction of technologies brings with it accessibility and exposure to economic and personal finance possibilities.
At the induction and graduating ceremony of the 15th set of Medical Doctors and 5th set of Dental Surgeons of the Lagos State University College of Medicine (LASUCOM) held over the weekend. Prof Adetokunbo O. Fabamwo, the Chief Medical Director of the Lagos State University Teaching Hospital (LASUTH), admonished the new doctors to thirst for knowledge and skills as they begin their journey in the medical profession.
Hold your heads high, Fabamwo charges newly inducted Doctors – www.brandspurng.com
In his words, “do not become overwhelmed as the reality of your calling beckons but conquer your fears and anxiety. I want you to look forward to a bright and fulfilling career and always strive for perfection in all that they do.”
The Acting Provost of LASUCOM, Prof Abiodun Adewuya, in his welcome address, charged the new doctors to note that the utmost in professionalism will always be expected of them and they will not be judged by the number of distinctions and credits they graduated with but by how effective they are able to relieve their patients of their pain and suffering.
He said, “your patients need you to become a healer and to do that, you must take off your white coat, you must recover, embrace and treasure the memory of your shared frail humanity of the dignity in each and every soul; being the only group with the skills to postpone death and prevent the premature loss of life, you must learn to place the needs of your patients ahead of your personal comfort.”
In her motivational speech cum ‘welcome address into the medical profession, the Medical Elder of the day, Prof. Elizabeth Disu, encouraged the inductees of the day to uphold the ethics of the profession as a group and as individuals. She highlighted a few ethical points that should drive their being and these include, taking a stand against covetous practices, having personal accountability, self-integrity, diligence and excellence in all they do.
Prof Disu referred to the medical profession as a ‘calling’ and not just a job. She told them to have a plan in place to excel and fulfil purpose, as they are in a life-long learning profession. She encouraged them to maintain balance between their professional and personal life.
Present at the ceremony were, Honorable Commissioner for Health, Lagos State, Prof Akin Abayomi, represented by Deputy Director Family Health & Nutrition, Lagos State Ministry of Health; the Vice-Chancellor of LASU, Prof. Olanrewaju Adigun Fagbohun, represented by the Deputy Vice-Chancellor, Prof Oyindamola Oke, amongst other dignitaries.
The Lux Afrique Group, in keeping with its pioneering spirit, will open the virtual doors to Africa’s very first online luxury multi-brand e-commerce store, the Lux Afrique Boutique, on 25 November 2020.
This exclusive online shopping destination will offer clients from the African continent and around the world, the most luxurious brands in fashion, jewellery, watches, home, technology and food.
“Pretty much every part of the world has a luxury e-commerce platform servicing the high net worth population across Asia, the Middle East and Europe, so why not Africa? I’m pleased to say that the Lux Afrique Boutique intend to change that!”Alexander Amosu, Founder of Lux Afrique said.
Lux Afrique Group opens Africa’s first luxury e-commerce boutique, Lux Afrique Boutique – www.brandspurng.com
The Boutique
Upon entering the online boutique, clients are presented with a selection of women’s fashion from the world’s most desirable luxury brands. The seasonal collections of leather goods and ready-to-wear are all current and what one would find in the shopping capitals Paris, Milan or London.
The men’s universe features an array of the finest names in luxury, with an additional selection of grooming products. Should you not be able to find your special piece, the concierge team are on standby 24 hours a day to source and deliver any luxury product to your home.
Engrained in the company ethos, Lux Afrique Boutique believe in supporting Africa and providing a platform to showcase its brands. It’s only natural then that a curated selection of African fashion and lifestyle designer brands will be available in the online boutique, with more will be added. Art lovers will be particularly pleased with the online African Art room, where the continents’ foremost artists will showcase their works.
For those who adore fine jewellery and watches, the High Jewellery universe features an array of exquisite pieces from Fabergé, David Morris and Stephen Webster, together with the worlds’ foremost watch and jewellery brands. Once again, and true to company spirit, Vanleles, an African fine jewellery brand features prominently in the online boutique.
Luxury lifestyle brands that are specially created for the home, ensure that your abode reflects your style. Expect to find designer furniture, homeware and the latest audiovisual equipment like Bang and Olufsen, to decorate your residence.
The shopping experience is complimented by the finest champagnes, wines and spirits, including Louis XIII and Dom Perignon, available in the world, while the highlight for any connoisseur would be discovering the Foodhall’s exceptional delicacies. The concierge team, as part of the highly personalised service, are on standby 24 hours a day to source and deliver any luxury product that you may possibly not find in the boutique. For VIP clients, a limited selection of merchandise can infact be delivered within 24 to 48 hours.
Shipping
Lux Afrique Boutique will deliver to 54 countries in Africa within a standard delivery time of 3 to 5 working days. For VIP clients, a limited selection of merchandise can in fact be delivered within 24 to 48 hours. In addition, to celebrate your birthday and as a special gift to you, the boutique offers free shipping on your birthday.
Corporate Social Responsibility
The Group strongly believe in giving back and supporting entrepreneurship efforts in Africa. With this in mind, a percentage of each sale will be ploughed back into sustainable projects supporting local businesses on the continent, allowing clients to partner with the Boutique in giving-back through their purchases, a priceless feel-good factor. The Lux Afrique Boutique aims to place the spotlight on discovering and showcasing luxury African brands and artisans.
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