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🍺 Diageo exits Nigeria | 📽️Canal+ to retain Multichoice brand

🍺 Diageo exits Nigeria | 📽️Canal+ to retain Multichoice brand

Innovation Village
June 12, 2024

Today’s Menu ☕️

🍺 Tolaram to Acquire Diageo’s Stake in Guinness Nigeria
🪙 Bolt South Africa cracks down on non-compliance, permanently blocks thousands of drivers to enhance safety
📽️ Canal+ intends to retain MultiChoice’s brand identity after acquisition
🏢 Microsoft reaffirms commitment to Nigeria, debunks shutdown rumours
🩺 Egyptian healthtech firm i’SUPPLY secures pre-series A investment to fuel expansion initiatives

🍻 FMCG

Tolaram to Acquire Diageo’s Stake in Guinness Nigeria

Tolaram, a leading consumer packaged goods company, has announced the acquisition of Diageo’s 58.02% shareholding in Guinness Nigeria for a share price of 81.60 NGN per share, a 63% premium to the 30-day VWAP. This strategic move, signed on June 11, 2024, marks the beginning of a new era for Guinness Nigeria, poised to benefit from Tolaram’s extensive expertise in manufacturing and distribution.

Under the terms of the agreement, Tolaram will acquire the majority stake in Guinness Nigeria and will enter into long-term license and royalty agreements. These agreements ensure the continued production of the iconic Guinness brand along with Diageo’s locally manufactured ready-to-drink and mainstream spirits brands. The transaction is anticipated to be completed during Fiscal 2025, contingent upon the requisite regulatory approvals in Nigeria.

Despite the change in ownership, Diageo will retain ownership of the Guinness brand and will license it to Guinness Nigeria for the long term. This arrangement will allow Diageo to remain actively involved in the brand’s strategy and innovation, ensuring the sustained growth and development of Guinness Nigeria under Tolaram’s stewardship...........continue reading

🚕 RIDE HAILING

Bolt South Africa cracks down on non-compliance, permanently blocks thousands of drivers to enhance safety

Bolt South Africa has taken decisive action to enhance the safety and compliance on its platform by permanently removing access for over 6,000 drivers in the last six months. These drivers were barred from the mobile app due to issues related to non-compliance with the company’s policies and safety concerns.

In a recent statement, Bolt emphasized that this measure is a reflection of its continuous effort to bolster safety standards. The company is determined to enforce stringent actions against any form of misconduct to create a more secure environment for both its riders and drivers.

Bolt has made it clear that it will persist in its policy of permanently blocking both drivers and riders who are reported for misconduct. This step is part of a broader strategy to enhance the safety features available to customers and to improve the overall experience of trips booked through the platform............continue reading

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📽️ MEDIA

Canal+ intends to retain MultiChoice’s brand identity after acquisition

Sahl team

In a comprehensive report, Maxime Saada, the chairman and chief executive officer of Canal+, the French media conglomerate, has delineated the strategic direction for MultiChoice post-acquisition. Saada has articulated a clear vision for the future of MultiChoice’s well-known brands, including DStv and Showmax. He underscored the intrinsic value of these brands, acknowledging their strong market presence and asserting that there are no current plans to rebrand them under the Canal+ umbrella.

Saada believes that the inherent strength and recognition of these brands are crucial assets that warrant preservation, barring any compelling reasons for change. Saada’s perspective is rooted in the understanding that while global competitors such as Netflix and Apple operate under a single brand, which may confer certain advantages, the established brand equity of DStv and Showmax should not be underestimated.........continue reading

🏢 INFRASTRUCTURE

Microsoft reaffirms commitment to Nigeria, debunks shutdown rumours

Microsoft has refuted rumours that it plans to shut down its Nigerian operations, following last month’s speculations that the tech giant was contemplating closing its Lagos innovation centre due to concerns over the country’s business climate. The rumoured shutdown was believed to potentially impact around 200 employees.

Olatomiwa Williams, Microsoft’s country manager for Nigeria, addressed these rumors in a meeting with the Nigerian minister of finance and coordinating minister of the economy in Abuja. Mohammed Manga, the ministry’s director of information and public relations, briefed the press on the discussions between the minister and Microsoft representatives..……....continue reading

🩺 HEALTHTECH

Egyptian healthtech firm i’SUPPLY secures pre-series A investment to fuel expansion initiatives

Elon Musk

On Monday, Apple announced a couple of new features across its apps and operating platforms and a partnership with OpenAI to bring the ChatGPT technology to its devices. And it seems Elon Musk is not happy about it.

According to him on a social media post, "That is an unacceptable security violation, and visitors will have to check their Apple devices at the door, where they will be stored in a Faraday cage."

Apple said it had built AI with privacy "at the core" and it would use a combination of on-device processing and cloud computing to power those features……read more