Nestlé makes strategic move to create global leader in ice cream

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Nestlé makes strategic move to create global leader in ice cream

Nestlé announced today that it has reached an agreement to sell its U.S. ice cream business to Froneri, an ice cream focused joint venture Nestlé created in 2016 with PAI Partners, for a transaction value of USD 4 billion.

In 2016, Nestlé and PAI Partners merged Nestlé’s European ice cream business in 20 countries and PAI-owned R&R to create Froneri, one of the world’s largest ice cream companies.

With a portfolio of iconic brands, unparalleled ice cream knowledge and focus as well as an agile and entrepreneurial management style, Froneri has been able to achieve rapid sales and profit growth, steadily gaining market share and reaching a turnover of around CHF 2.9 billion in 2018.

Froneri, which already had operations in Europe, Latin America, Africa and Asia-Pacific will now have a strong presence in the U.S., the largest ice cream market in the world. The recent acquisitions of TipTop in New Zealand and Nestlé’s ice cream business in Israel have also increased Froneri’s growing global footprint.

Nestlé USA‘s successful ice cream business comes with a high-calibre management team, marketing, manufacturing and sales/distribution capabilities. In 2018, turnover was USD 1.8 billion. With brands like Häagen-Dazs, Drumstick and Outshine, the business commands leadership in key ice cream categories, notably super-premium.

Commenting on the transaction, Mark Schneider, Nestlé CEO, said: “The creation of Froneri has been a phenomenal success. We are now making this business our global strategic partner in ice cream and are convinced that Froneri’s successful business model can be extended to the U.S. market. With this transaction, we are taking a decisive step towards our goal of achieving global leadership in ice cream.”

Ibrahim Najafi, Froneri CEO, said: “This is another milestone acquisition for Froneri as we drive towards becoming the world’s best ice cream company. We’re delighted to be bringing such well-loved U.S. brands into the Froneri family. The acquisition is a testament to the strength and longevity of our relationship with Nestlé. This partnership and the continued support of PAI Partners will be essential to ensuring we continue to delight consumers with innovative, high-quality products in all markets.”

Frédéric Stévenin, Partner at PAI Partners, said: “We are excited to bring Nestlé’s stellar U.S. ice cream business to Froneri. This is a great opportunity for further growth, building on the expertise of the world’s leading pure-play ice cream company.”

The transaction is expected to close in the first quarter of 2020, following the completion of customary regulatory approvals. Nestlé will continue to manage its remaining ice cream businesses in Canada, Latin America and Asia as part of its current market structure.

Financial Transparency Policy: A bird’s eye view!

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Financial Transparency Policy: A bird’s eye view!

Recently, Nigerian President, Muhammadu Buhari, approved the Financial Transparency Policy, aimed at reporting financial transactions and performance of all government bodies on a single platform, known as the Open Treasury Portal. As such, the general public will have access to periodic reports from Ministries, Departments and Agencies (MDAs), as well as the Office of the Accountant General of the Federation (OAGF), for transactions exceeding N5.0mn and N10.0mn respectively.

Further analysis into the policy showed that MDAs and OAGF are required to submit, a periodic detailed account of remittances, budget performance, financial statements, and several other official monetary transactions, within stipulated deadlines, following the end of a review period. Also, all MDAs are required to promptly respond to additional requests by the public, for information beyond what is published.

In our view, this is another score for the Buhari Administration in terms of transparency and fighting corruption – following the implementation of the Treasury Single Account (TSA) and the Whistleblower Policy. Therefore, we note that if executed properly, this could deepen the citizen trust in the government, increasing the potential for higher tax revenues as well as more efficient government spending. Also, proper implementation of the policy could put Nigeria some points ahead in the fiscal transparency and open government scorecard of international organizations. In all, sectors which have been hampered by slowing foreign direct investment and decreased public-private partnerships, given the lack of clarity in fiscal terms, are likely benefactors.

United Capital Research

CBN’s Credit Drive: The compelling case vs our concern

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CBN’s Credit Drive: The compelling case vs our concern

Recently, reports emerged that the Central Bank of Nigeria (CBN) is planning to review Nigerian banks minimum Loan-to-Deposit Ratio (LDR) upward from the current 65.0% to 70.0% in 2020. This is amid the growth in banks credit to the private sector that trail(ed) the current (65.0%) and previous (60.0%) pronouncements. Notably, real sectors such as; Manufacturing, Commerce, ICT, Construction, Agriculture, and Mining & Quarrying sectors have been the biggest beneficiary of the renewed credit drive.

Making the CBN’s case more compelling, is the sustained moderation in Non-Performing Loans (NPLs), to its lowest since Nigeria entered recession in Q2-16. Notably, the Monetary Policy Committee (MPC), at its last meeting in 2019, attributed the improvement in NPLs to the CBN’s Global Standing Instruction (GSI) initiative which had addressed the predatory impact of serial borrowers in the banking system. Also, the improvement in the overall economic output recorded in Q3-19 (GDP: +2.28%) and the sustained expansion in manufacturing as well as non-manufacturing Purchasing Managers’ Index (PMI) over the period, typified some of the impacts of banks’ lending to the real economy.

However, while we acknowledge the monetary authorities’ effort to boost real sector growth, we highlight the need for the fiscal authorities to complement these efforts by creating an enabling environment for businesses to thrive. Accordingly, we believe the CBN should delay increasing the LDR further, until when the fiscal authorities commit to implementing the needed reforms.

United Capital Research

Facebook celebrates key milestones for sub Saharan Africa in 2019

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Facebook celebrates key milestones for sub Saharan Africa in 2019

Facebook today released its ‘2019 Year in Review’ infographic, showcasing just some of its investments across Sub-Saharan in 2019.  Committed to giving people the power to build community and bring the world closer together, throughout the year this translated into significant support and investments into growing the ecosystem of developers, entrepreneurs, creatives, and many other communities.

During 2019, Facebook Africa:

  • Trained over 7,000 women-owned businesses in digital skills across sub-Saharan Africa;
  • Celebrated 79 Community Leadership Circle meetups with over 2,650 people attending;
  • Reached its 45th Developer Circle, with circles now in 17 African countries and representing more than 70,000 members;
  • Hosted the first-ever iD8 Nairobi Conference with over 400 African developers and startups in attendance;
  • Expanded Third-Party Fact-Checking across 10 African countries;
  • Announced the creation of the world’s most detailed population density maps of Africa, created by Facebook AI researchers to help humanitarian aid and relief agencies; and much more.

Nunu Ntshingila, Regional Director Facebook Africa, commented: “Africa is important to Facebook, and we’re committed to investing in its youth, entrepreneurs, the creative industries, tech ecosystem as well as its many other communities. Our 2019 Year in Review highlights just some of these investments, and the impact we’ve been able to have here in the region. I’m excited about the future of Facebook and our family of apps here in Africa, as well as the potential of this young, mobile and dynamic continent, and look forward to creating partnerships in 2020 and beyond.”

Check out the Facebook in Africa infographic to learn more about Facebook milestones and achievements in sub-Saharan Africa in 2019.

Michael Page: Skilled employment in technology roles to push Thailand 4.0 agenda and economy forward in 2020

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Michael Page: Skilled employment in technology roles to push Thailand 4.0 agenda and economy forward in 2020

BANGKOK, THAILAND – Media OutReach – 12 December 2019 – Thailand is poised to enter the new decade steered by strong business fundamentals and the government’s business-friendly agenda — the Thailand 4.0 drive. This initiative is anticipated to move Thailand up the economic value chain and usher in further investments across a variety of industries including Artificial Intelligence, agritech, infrastructure, manufacturing and automation.

Details from the Michael Page Thailand Employment Outlook 2020 highlights more efforts to improve economic growth by migrating from an industry-driven economy to a technology-centric one. This race for change will bring on continuous adaptation of emerging technologies in the country.

Kristoffer Paludan, Regional Director of Michael Page Thailand comments, “Thailand’s business leaders have acknowledged the importance of embracing emerging technologies to maximise opportunities in the new digital transformation economy. Local companies have also started to adopt more digitally-focused solutions. Technology will lead the value add across businesses and encompass all areas of growth to drive the economy forward.”

Other findings from the Michael Page Thailand Employment Outlook 2020 reveal that in order to fulfill Thailand’s ambition of disruptive innovation, the skills required will be in Artificial Intelligence (AI), Big Data, Internet of Things (IoT), cybersecurity and IT infrastructure. The application of these technology skills will be seen in a majority of industries including transport, distribution, FMCG, business serves and real estate.

With continued progress in e-commerce, an increasing number of professionals tasked with implementing new software technologies across mobile and skilled in mobile development will be in demand. Qualified candidates can expect a 25 — 30% average salary increase when switching jobs within similar industries.

“Businesses outside of technology are also implementing automation and digitising processes in order to streamline operations. This is increasingly evident in the transport and distribution sector due to Thailand’s e-commerce boom as well as moves from FMCG companies to adopt omnichannel strategies when acquiring new consumers,” observes Kristoffer Paludan.


Download the full Michael Page Thailand Employment Outlook 2020 report here.

  

Editor’s notes: The Michael Page Thailand Employment Outlook 2020 is derived from 1,000 data points in our proprietary data and network in Thailand, which includes job advertisements and placements from July 2018 to June 2019.


2019 State of the Media Report released

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2019 State of the Media Report released

Cision has just released its 2019 State of the Media Report, which sheds light on the public’s trust in the media and how journalists choose which stories to write about.

The past 12 months have been challenging for the media industry. Members of the press must contend with personal attacks, accusations of fake news, and the rapid spread of misinformation. Social media has been particularly difficult to work with this year, with complex updates to data privacy laws and sudden changes in newsfeed algorithms.

However, amidst this formidable environment, there’s a glimmer of hope; trust in the media might actually be on the rise.

Journalists are contending with fewer resources and a host of challenges, including receiving more PR pitches than ever — 16% of journalists said they want PR professionals to stop spamming them.

The report reveals important insights, sourced from nearly 2,000 journalists in 10 countries, including:

  • (Dis)trust in the media – Journalists believe the public’s lack of trust in the media might be on the decline
  • The role of data in deciding which stories to cover – Journalists are making more data-driven decisions around the content they publish
  • The rise of social media – Social media is becoming a more challenging and complex partner for publishers

Responses reflect growing concerns around the changing role of social media, an increasing reliance on data-driven storytelling, and positive shifts in perceptions of trust.

In this fragmented, dynamic media environment, communications and PR professionals have an opportunity to become even more reliable partners with their media counterparts.

Click here to download the full Cision 2019 State of the Media report.

Hyundai Motor Nigeria unveils All-New 2020 Sonata with high-tech lighting

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Hyundai Motor Nigeria unveils All-New 2020 Sonata with high-tech lighting

About three weeks to the end of the year, Hyundai Motor has unveiled its next-generation Sonata, a 2020 edition built with the sporty four-door-coupe look, to the Nigerian market.

The new Sonata, an eighth-generation model, is said to represent Hyundai’s sensuous sportiness design concept. It is said to be a fully transformed vehicle compared incorporating state-of-the-art lighting technology. It is a fully transformed vehicle following the release of the previous generation Sonata in 2014.

“Sonata celebrates innovative coupe-like silhouette,” said the Head of Sales, Gaurav Vashisht. A short overhang, sloping roofline and low deck lid create a balanced feel, and Hyundai’s signature chrome accent now goes all the way into the hood, making it look even longer. It also has LED lighting built-in. These cues bring the Sensuous Sportiness design to life.

The new Sonata has a much sportier look than its predecessor, with a 30 mm lower height and a width extended by 25 mm.

Exterior

The detailed features of the new Sonata show a short overhang, sloping roofline and low-deck lid that create a balanced feel, with Hyundai’s signature chrome accent now going all the way into the hood, making it look even longer.

The car also has LED lighting built-in, all of which help bring the sensuous sporty design to life.

Indeed, Hyundai says the new Sonata has a much sportier look than its predecessor, with a 30mm lower height and a width extended by 25 mm; wheelbase enlarged by 35 mm, and its whole length by 45 mm.

“The new Sonata’s frontal section is defined by two elements: a bold, voluminous shape evoking a smooth sphere and a cleanly demarcated hood.

“Furthermore, the Digital Pulse Cascading Grille, which resembles the grille of a sports car with its rhythmic visuals, is sleekly connected to the hood, strengthening the overall perception of the front.”

Lighting lamps

A statement by the auto company says the lamps show a remarkable design innovation incorporating state-of-the-art lighting technology.

“The hidden lighting lamps appear to be of a chromic material when switched off and become dramatically lit when turned on,” it states.

The automaker recalls that the light architecture was initially revealed through Hyundai’s HDC-2 concept car at the Busan Motor Show in June last year.

“It was created by fleshing out the form of the lamp and making it into a powerful design element. Along with the sensuous sportiness concept, the light architecture defines the design identity of future Hyundai cars,” it adds.

The firm also says the side sections of the Sonata are accentuated by the light architecture, which connects two chromic lines seamlessly linking the windows and daytime running lights.

According to the automaker, through these two characteristic lines, the Sonata effuses an athletic and elegant charm.

The new car has a wide, layered long hood, a very low stance and a sleek roofline. The feeling of width is also achieved with ultra-wide taillights.

The light architecture is also applied to the interior space with the ambient mood lamp illuminating dashboard and doors.

Interior

The instrument panel inside the car is rich and modern and Hyundai says the recognisable winged shape is inspired by a Stealth aircraft.

It adds, “This shape almost levitates or floats when looked at, and this philosophy carries into the long armrests. Satin chrome accents enhance this effect.

“Designers compressed the height of the dashboard and HVAC vents as much as possible to aid the lightweight feeling, while modern, light fabric colours and leathers provide a fresh and freeing ambience for the driver.”

Hyundai notes that the clean and sleek design is carried through the centre-gauge cluster display.

It explains that its designers aimed to alleviate the distracting large screens featured in many luxury cars today and instead threaded the two displays together on the 2020 Sonata, using a unique S curve.

The new Sonata’s additional features, it says, include a satin chrome accent on the steering wheel, which looks like an aircraft yoke, and shift-by-wire transmission controls to free up storage space.

Meanwhile, the Group Marketing Head, Stallion Autos, Arpita Luthra, has said that Hyundai is now the highest-selling brand in Nigeria in the new car segment.

Although she did not give the sale figures for the year, Luthra, who spoke at the unveiling of the new Sonata in Lagos, said Stallion’s partnership with Hyundai Motor Company had come a long way since 2014 and boosted the performance of the brand in Nigeria.

She said the group remained committed to providing the best-in-class service and a range of world-class vehicles to the Nigerian consumer.

“These vehicles are getting assembled in Nigeria and are topically modified to handle the road severity of the region,” she added.

Kantar Tops MRS League Tables with a turnover of £459m

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Kantar Tops MRS League Tables with a turnover of £459m

Kantar has topped the latest Market Research Society (MRS) League Tables, published as part of the Research Live Industry Report 2020, with a turnover of £459m.

Published today ( 11th December), the League Tables rank the top-performing research businesses based on their UK turnover and international work managed and invoiced from the UK. The rankings are based on 2018 financial data analysed during 2019.

Kantar was the top individual agency by turnover, as well as topping the list of consolidated businesses, which draws agencies together under ownership groups, where appropriate.

This year, WPP sold 60% of Kantar to private equity firm Bain Capital in a transaction that concluded this month. The firm also consolidated its various Kantar sub-brands under one brand name earlier in 2019.

In both the individual agencies and consolidated business rankings, Gartner was ranked second, with Dunnhumby, the previous year’s number one in the individual table, placed third.

Elsewhere in the tables, MIG Global ranked as the top fastest-growing individual agency, while GlobalData was number one in the table of fastest-growing businesses.

MIG Global is the insights division of Next 15 Communications plc, which this year merged its data and insights agencies under a new name – Savanta Group.

The top 100 individual agencies generated a collective turnover of £3.6bn in 2018. Year-on-year growth was 3.9% – slower than the growth seen in 2017. Of the top 100 agencies, over half ( 57%) recorded growth and the top 10 companies accounted for 56.5% of total turnover.

The report also publishes findings from the MRS Industry Survey, including that the UK research supply industry grew by 0.7% to £5.078bn in 2018.

Jane Frost, chief executive of MRS, said: “The UK research sector has proved highly resilient to the increased risk and disruption of the past year that has hit many other industries. It remains the largest research sector in the world per capita and the report reflects the continued significance of face-to-face research skills, brains, innovation and creativity to the success of agencies.”

Download the full Research Live Industry Report 2020 here

What To Expect At Guinness Night Football In Enugu

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What To Expect At Guinness Night Football In Enugu

Guinness is pleased to announce its newest campaign – Guinness Night Football – set to kick off in the nation’s footballing capital, Enugu on the 21st of December 2019.

Following successful launches in other African countries, Guinness Night football promises to deliver one of a kind, bold and unconventional football-themed activities designed to bring players and fans across the country extraordinary experiences.

Here are some highlights to look out for:

Food and Drink

Guinness Night Football is an opportunity to explore a distinct menu specially curated for a fun football night out. In partnership with some of the most inventive culinary experts, Guinness Night Football will showcase the most unconventional food and beer recipes that show off the versatility of the nation’s favourite stout.

Fan Zone Events

Guinness will host a range of football activities from special in-bar games with incredible prizes up for grabs, through to larger football extravaganzas and skills challenges, all with an amazing Guinness twist.

To be part of the Enugu kick-off, register now https://fb.me/1ONBleEBOGieOE1; for Lagos kick-off, register now https://fb.me/1YuN9zXE8SiO4HO. Alternatively, look out for promotional bottles of Guinness stout, check under the crown and dial *1759*CODE#

For more information, join the conversation on Guinness social media handles and follow the hashtag #GuinnessNightFootball #GuinnessMVP and  www.goal.com/Guinness for more details.

Please make sure you enjoy Guinness responsibly – 18+ only.

WHO gets new advice on curbing deadly noncommunicable diseases

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WHO gets new advice on curbing deadly noncommunicable diseases

World leaders and health experts, today, handed 8 recommendations to WHO’s Director-General, Dr Tedros Adhanom Ghebreyesus, that could save millions of lives and promote mental health. The WHO Independent High-level Commission on noncommunicable diseases was convened by Dr Tedros in October 2017 to identify innovative ways to curb the world’s leading causes of death: cardiovascular disease, cancers, diabetes, respiratory diseases and mental health conditions.

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The Commission highlighted that noncommunicable diseases still account for more than 70% of deaths and stressed that, “progress against NCDs and mental health conditions must be greatly accelerated if the 2030 Agenda is to succeed.” It also noted that many countries face challenges and need more support to implement solutions.

The report laid out a set of 8 recommendations for WHO:

  • Encourage Heads of State and Government to fulfil their commitment to providing strategic leadership by involving all relevant government departments, businesses, civil society groups as well as health professionals and people at risk from or suffering from NCDs and mental health conditions.
  • Support countries in efforts to empower individuals to make healthy choices, including by ensuring that the environment is conducive to living a healthy life and that people receive the information they need to make healthy choices.
  • Encourage countries to invest in the prevention and control of NCDs and mental health conditions as a key opportunity to enhance human capital and accelerate economic growth.
  • Advise countries to include services to prevent and treat NCDs and mental health as essential components of Universal Health Coverage.
  • Ensure that no one falls into poverty because they have to pay for health care out of their own pockets through the provision of adequate social protection for everyone.
  • Increase engagement with businesses and provide technical support to the Member States so they can mount effective national responses to NCDs and mental health conditions.
  • Encourage governments to promote meaningful engagement with civil society.
  • Advocate for the establishment of a multi-donor trust fund to support countries in activities to reduce NCDs and promote mental health.

The Report was released in Muscat, Oman at the WHO Global Meeting to Accelerate Progress on NCDs and Mental Health in front of more than 600 people coming from governments, UN agencies, civil society, private sector, philanthropies, and academia.

Every year, 41 million people die from NCDs, 15 million of them between the ages of 30 and 69. Despite the many proven solutions, progress has been slow and uneven globally. WHO is committed to working with all partners to reduce premature deaths from NCDs through prevention and treatment and the promotion of mental health and wellbeing.

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