Business
Golden Morn Champions Environmental Responsibility with Launch of New Sustainability Packaging
By Eric Elezuo
In its bid to further nourish customers with the best of food, especially cereal, and maintain a new 100% recyclable laminate packaging, Nestlé Nigeria, Africa’s top food and beverage company, known for its quality, excellence, and commitment to creating shared value, and its iconic breakfast cereal, Golden Morn, have proudly launched its new sustainable packaging, which underscores the brand’s dedication to providing nutritious food while championing environmental responsibility, and solidifying Golden Morn’s commitment to both nutrition and sustainability.
The launch took place on Monday during an elaborate press conference at the company’s head office in Lagos in the presence of senior management officers and notable members of the media.
A press statement released by the company remarked that “This significant update reflects Golden Morn’s over three-decade legacy of nourishing Nigerian families and its forward-thinking approach to sustainability.”
The statement added that “Aligned with Nestlé’s global recycling vision, the new packaging is a testament to the company’s pledge to ensure that more than 95% of its plastic packaging is recyclable by 2025. Crafted with sustainability at its core, the packaging utilizes materials that are easier to recycle, thereby reducing environmental impact and fostering a circular economy.”
In his address, the Managing Director, Nestlé Nigeria, Mr. Wassim Elhusseini, reaffirmed the firm’s commitment to safeguarding the planet in addition to dishing out mouthwatering wheat and dairy products.
“At Nestlé, our responsibility, in addition to delivering nutritious products, also includes safeguarding our planet for future generations,” Elhusseini said.
The MD informed that the beauty of the Nestlé production line is that over 80 per cent of packaging is done with a pro-active view to enhancing recycling, and informs the upgrading of the Golden Morn’s packaging to suit the positive narrative.
“Today, over 80% of all Nestlé’s packaging in Nigeria is optimized for recycling and we are happy that Golden Morn’s packaging has been upgraded to a designed for recycling laminate from the previous aluminum foil packaging. By embracing recyclable materials, we are not only minimizing waste but also reinforcing our leadership in environmental stewardship within the industry,” he stated.
Speaking further on the Golden Morn brand, the Category Manager, Dairy, Mr. Omofasa Orhiunu, hinted that the highly nutritious Golden Morn is proudly developed in Nigeria for Nigeria, and has been a staple in Nigerian households for more than 38 years, offering a delicious and wholesome start to the day.
He maintained that the production is crafted from locally sourced maize and soya, adding that the cereal is rich in essential vitamins and minerals, including vitamins A, B1, B5, C, and iron. These ingredients are carefully formulated to energy, protein, dietary fibre and calcium.
“Golden Morn is more than just a breakfast cereal; it’s a brand driven by purpose, dedicated to nourishing families across Nigeria, while protecting the planet for the next generation.
“As we introduce our new sustainable packaging, we remain committed to delivering the same great taste and nutrition that Nigerians have trusted for over 38 years,” Omofasa Orhiunu said.
Also responding, Corporate Communications /Public Affairs and Sustainability Lead, Mrs. Victoria Uwadoka, remarked that the company has stood out in its operations over the years because it chose to be Nigerian and identify with the people in addition to nourishing families and taking care of their nutrition demands.
It is worthy of note that Golden Morn’s commitment is not only grounded in nutrition but also in its focus on local sourcing. The brand sources 100% of its maize and soya locally, collaborating closely with Nigerian farmers to ensure the freshness and quality of its ingredients. This partnership guarantees a superior product while bolstering the local economy and empowering farming communities.
Nestlé has a heritage of more than 63 years in Nigeria and continues to ensure the availability and accessibility of nutritious food and beverage products as well as supporting the communities closest to its operations, taking action to safeguard the environment through sustainable business practices.
Other products in its line of production are Maggi, Milo, Nestlé Pure Life and Cerelac, and boasts of over 2,300 direct employees, 3 factories and 7 branch offices across Nigeria.
Feature Photo: Left to right: Category Manager Dairy, Omofasa Orhiunu; Country HR Manager, Shakiru Lawal; Corporate Communications /Public Affairs and Sustainability Lead, Victoria Uwadoka, and Commercial Manager, Boladale Odunlami
The Lemon Friday Promo is Adron Homes and Properties’ most exciting and anticipated annual sales event! Every year, Adron Homes brings unbeatable deals and extraordinary benefits for people looking to invest in real estate. This year’s Lemon Friday Promo promises even bigger discounts, exclusive prizes, and unique opportunities to own land or property in premium locations. Here’s everything you need to know about the promo:
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Adron Homes is known for its customer-friendly payment options, and the 2024 Lemon Friday Promo is no exception. During the promo period, you can pay for your property in installments, allowing you to spread payments up to 60 months or even years, depending on the package. This flexibility makes it easier for more people to achieve homeownership, regardless of income level.
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Leading financial institution, FirstBank of Nigeria Limited, has debunked a misleading report circulating in the media regarding a system upgrade at FirstBank, saying that no such upgrade is underway and that all operational systems are functioning maximally.
The management of the bank made this clarification in a statement made available to this medium.
The statement reads in full:
We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank.
The message which was incorrectly interpreted and reported was sent to, and intended for our vendors only and focused on transitioning from our current I-Supplier Platform (our automated platform that connects us to suppliers) to a new Cloud-based Supplier Platform (worldclass platform for managing suppliers), to enable additional capabilities and benefits for our vendors.
Please be informed that no system upgrade is currently underway, and all our customer applications are fully operational. We are not experiencing disruption to our services, and our banking systems, customer transactions, channels, etc, will not be affected by the enhanced supplier platform.
Rest assured that our commitment to seamless service delivery remains unwavering as you continue to enjoy uninterrupted access to our services.
Riding on its recently released half-year financials, Africa’s Global Bank – United Bank for Africa (UBA) Plc, has announced its unaudited results for the third quarter ended September 30, 2024, where it recorded strong and impressive growth across all its key indicators.
As in the first two quarters of the current fiscal year, the bank’s gross earnings grew significantly by 83.2 per cent to N2.398 trillion up from N1.308 trillion recorded in September last year, while its net Interest income which stood at N443.0 billion at the end of the third quarter in 2023, rose impressively by 149 per cent to N1.103 trillion in the period under consideration.
The bank’s financial report filed with the Nigerian Exchange Limited on Monday also indicated a 20.2 per cent increase in Profit before Tax (PBT) to close at N603.48 billion compared to N502.09billion recorded at the end of the third quarter of 2023, while profit after tax also rose remarkably by 16.9 per cent from N449.26 billion recorded a year earlier to N525.31 billion in the period under review.
As in the preceding two quarters this year, UBA continues to maintain a very strong balance sheet, with Total Assets rising to N31.801 trillion, representing a 54.0 per cent increase over the N20.653 trillion recorded at the end of December 2023, just as the bank benefitted largely from its technology-led initiatives targeted at improving customer experience over the past few years, with Total Deposits rising to N26.50 trillion, representing a 52.7 per cent rise, up from N17.355 trillion at the end of the last financial year.
UBA shareholders’ funds remained very strong at N3.585 trillion up from N2.030 trillion recorded in December 2023, again reflecting a strong capacity for internal capital generation and growth.
Commenting on the result, UBA’s Group Managing Director/CEO, Mr. Oliver Alawuba, expressed pleasure that the Group continues to record strong and sustainable growth in its various revenue streams, building on its strong performance earlier in the year.
“The UBA Group achieved a profit before tax of N603.5 billion and our intermediation business continues to show strong growth with net interest income expanding by 149 per cent YoY to N1.10trillion and NIM closing at 8.03 per cent, which is 17.60 per cent above the 2023 position, despite persisting macroeconomic headwinds, geopolitical tensions, insecurity, inflationary pressure and exchange rate volatilities across our markets,” Alawuba stated.
According to the GMD, the Bank’s performance has been underpinned by consistent strong growth on all core and sustainable banking income lines, as he added that “Our substantial investments in technology are yielding tangible business value. This commitment is instrumental in delivering enhanced customer experiences and optimizing operational efficiency.”
The Bank’s Executive Director, Finance & Risk, Ugo Nwaghodoh, said, “I am delighted at the milestone reached in driving operational efficiency, reflected in cost-to-income ratio normalizing around the 50 per cent range. Shareholders’ funds recorded a 77 per cent growth from N2 trillion at FYE2023 to N3.59 trillion demonstrating the Group’s significant capacity for future growth.
On plans to consolidate its performance for the rest of the 2024 financial year and beyond, Nwaghodoh said, “We remain on track with various strategies to optimize our cost of funds and operating expenses. Furthermore, the Group has finalized plans to shore up its share capital to support its medium to long term aspirations, whilst aligning with the recent regulatory requirement in Nigeria and other jurisdictions.”
On plans to consolidate its performance for the rest of the 2024 financial year and beyond, Nwaghodoh said, “We remain on track with various strategies to optimize our cost of funds and operating expenses. Furthermore, the Group has finalized plans to shore up its share capital to support its medium to long term aspirations, whilst aligning with the recent regulatory requirement in Nigeria and other jurisdictions.”
He explained that UBA remains committed to sustainable growth in its core banking revenue lines and maintaining its strong compliance and risk management culture, even as the Group identifies further opportunities to expand.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than forty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
