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Coca-Cola completed the acquisition of Chi Ltd

The Coca-Cola Company announced that it has completed its acquisition of Chi Ltd. in Nigeria. Coca-Cola first announced a minority investment in Chi three years ago and, as planned, has now acquired full ownership of the company.

This acquisition further signals Coca-Cola’s optimism about Africa’s consumer opportunity and a commitment to its long-term investment and growth plan on the continent, where it has been present for more than 90 years.

With this, the non-alcoholic beverage market can be said to have witnessed a revolution as in 2016, the company acquired a 40% minority stake in Chi and increased ownership on 30th January 2019.

In a statement at Eko Hotels, Lagos on Wednesday, 1st February 2019, Coca-Cola announced that it has extended its minority investment in the company to full ownership.

The president of the West Africa business unit of Coca-Cola, Peter Njonjo shared that “Coca-Cola is continuing to evolve as a total beverage company, and Chi’s diverse range of beverages perfectly complements our existing portfolio, enabling us to accelerate expansion into new categories and grow our business in Africa,”

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“We will support the Chi management team in building on the company’s remarkable heritage and achievements while using the scale of the Coca-Cola system to replicate their success in more markets across Africa.”

While reacting to questions on if the products will be collapsed, Njonjo reinterated that “all products will co-exist. Already Chi sells high quality products so we shall continue with that quality and affordable pricing. Our objective is to grow the Chi and Hollandia units into a global multi-billion dollar brand”

The Public Affairs and Communications Director, West Africa Business Unit, Clem Ugorji, however reiterate that “this acquisition is a testament to how we will achieve our objectives and it is a celebration of entrepreneurship.”

In a September 2018 interview, Njonjo had said that the company’s drive to diversify its product range would give it some flexibility.

Chi Limited was founded in Lagos in 1980. It produces juice under the Chivita brand, Caprisonne and value-added dairy under the Hollandia brand.

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Nollywood Star, Ali Nuhu, Motivates Students at Promasidor’s Career Guidance Initiative

Star actor and producer, Ali Nuhu Mohammed, has encouraged secondary school students to focus on their future dreams and not be distracted, particularly as they take decision on their career choices.

Nuhu, who featured at the Kaduna edition of Promasidor Harness Your Dream, a corporate social responsibility project of Promasidor Nigeria Limited held recently, told the students at the event to embrace education first before any other pursuit. “Without solid education, you can hardly achieve anything,” he counselled.

He said the students should consider themselves lucky to have an organisation like Promasidor show commitment to youth development through the programme.

“You must understand the importance of education and not allow this opportunity of career guidance to go wasted. When I was like you, I never had the opportunity for career guidance,” he told the students, who became excited as he stepped into the hall.

Nuhu commended Promasidor for the project and said that other corporate organisations should take a cue from the company. “Corporate organisations should emulate programmes like this,” he enjoined.

Nuhu, who holds BA Geography from the University of Jos, said that parents should support their children in the careers they had flair for, explaining that his mother encouraged him and convinced his father when he decided to go into the movie industry.

Earlier, the Kaduna State Government had praised Promasidor Nigeria Limited for conceiving the project and bringing it to the state.

Addressing the students and other stakeholders at Sardauna Memorial College in Kawo New Extension, venue of the event, the Permanent Secretary of the state Ministry of Education, Mrs Kande Nana Bage described Promasidor Harness Your Dream as “an excellent programme.”

From Left: Andrew Enahoro, Head Legal and Corporate Communications, Promasidor Nigeria Limited; with Ali Nuhu, Nollywood Star; Nura Hassan Yaro, Principal of Sardauna Memorial College, Kaduna; and Olaosebikan Sunday, Regional Sales Manager, North-West, Promasidor Nigeria Limited; during the sixth edition of Promasidor Harness Your Dream (PHYD) initiative, a career guidance workshop for secondary school students, held in Kaduna recently.

“I thank Promasidor for choosing Kaduna State to be part of this programme. I feel highly delighted that Kaduna is the sixth state where this initiative is being held,” the Permanent Secretary further said, as she turned her attention to the students: “I encourage you to make good use of this opportunity. If you allow such opportunity to slip off your hand, you may not get it again. Work hard so that you will excel in future,” she further said.

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The Permanent Secretary, who led her team from the Ministry and the State Universal Basic Education Commission, urged other corporate organisations to join Promasidor in developing the youth in their education and talent growth.

“Other corporate organisations should follow the example of Promasidor as this kind of initiative will further boost the interest of the students in schooling,” she admonished.

Students of five other schools participated at the workshop. They are: Dalet Girls Secondary School, Kawo; Government Girls Secondary School, Kawo; and Dr. Ahmed Mohammed Makarfi Government Secondary School, Hayin-Banki.

In his remarks, Promasidor’s Head of Legal and Corporate Communications, Mr Andrew Enahoro recalled that the career development initiative has been held in five other locations and that other states would soon benefit from the pan-Nigeria project.

From Lagos in November 2017, Promasidor Harness Your Dream has taken place in Ogun, Enugu, Cross River and Kaduna State as well as the Federal Capital Territory, Abuja. One edition of the project is held in every school term with professionals from Promasidor sharing hands-on knowledge to guide the students in choosing their future careers.

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The facilitators in Kaduna were Abolade Liyide, Olasunbo Amusan, Michael Nwughala and Andrew Enahoro, all staff of Promasidor Nigeria Limited. They made presentations on Personnel Management and Emerging Entrepreneurial Opportunities; Information and Communication Technology; Accounting and Business Management; and Digital Marketing.

Enahoro said that Promasidor Harness Your Dream has provided the company the opportunity to give back under its CSR strategy, which covers mentorship and empowerment.

“We try to let these children know how to make the right career choices as they go on in life. For each of the key subjects being taught at the programme, we bring from our Lagos headquarters professionals to impact hands-on knowledge on the students,” he explained.

The Promasidor spokesman said the initiative focuses on students in Junior Secondary School 3 as it has been designed to aid them to make proper career choices that relate to their talents, attitude and dreams as they prepare to conclude their career focus in the senior classes.

Promasidor has become reputable for promoting youth development in the 26 years of operation in Nigeria through other initiatives that include Cowbellpedia Secondary School Mathematics TV Quiz Show, Loya Milk Swim Meet and Cowbell Chocolate Supa Strikas competition.

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