11th - 13th June 2024

Tag: import

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The Top 10 Cognac and Brandy labels Africans love to drink!

Africa has witnessed a remarkable surge in the popularity of cognac and brandy, marking them as symbols of luxury and indulgence.

For generations, cognac and brandy have captivated the African palate, offering a blend of traditional craftsmanship and modern innovations defining the African spirits industry.

As consumers’ tastes from Africa continue to evolve, many are gravitating toward specific brands that have earned recognition and a devoted following.

As the preferences of African consumers shift, a select group of brands stands out, garnering admiration and a loyal clientele. The recent study by Sagaci Research, unveiled in September 2023, offers an in-depth insight into the cognac and brandy scene in Africa.

While Africa is renowned for its varied drink choices, the study indicates that the consumption of brandy and cognac trails other spirits such as gin (11%), vodka (13%), and whisky (16%). Only a mere 4% of the populace savors these refined drinks. However, the fascination with cognac and brandy in Africa is on a steady rise, positioning the continent as a hotspot for one of the most exciting emerging markets worldwide. As the spirits sector in Africa thrives, it’s intriguing to delve into the top 10 cognac and brandy brands that have won over African consumers.

Top 10 cognac and brandy brands from the Sagaci Research report

1 Hennessy (Cognac)
2 Napoleon Brandy(Brandy)
3 Remy Martin (Cognac)
4 Viceroy(Brandy)
5 501(Brandy)
6 Martell (Cognac)
7 Courvoisier (Cognac)
8 Kliporift (Brandy)
9 KWV (Brandy)
10 Richot (Brandy)

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Tinubu Secures Investment ‘Worth Billions of Dollars’ with UAE, Visa Ban on Nigerians Lifted

Emirates and Ethiad Airlines will resume flights into and out of Nigeria immediately without any immediate payment by the Nigerian government.

Nigeria President Bola Ahmed Tinubu has finalised an agreement with the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, which has led to the immediate lifting of the visa ban that was placed on Nigerian travellers by the UAE.

This was revealed in a statement released by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale.

The statement read, “As negotiated between the two Heads of State, this immediate restoration of flight activity, through these two airlines and between the two countries, does not involve any immediate payment by the Nigerian government.

“In recognition of President Tinubu’s economic development diplomacy drive and proposals today presented by President Tinubu to his counterpart, an agreed framework has been established, which will involve several billions of US dollars worth of new investments into the Nigerian economy across multiple sectors, including defence, agriculture and others, by the investment arms of the Government of the United Arab Emirates.

“Additionally, President Tinubu is pleased to have successfully negotiated a joint, new foreign exchange liquidity programme between the two Governments, which will be announced in detail in the coming weeks.”

Tinubu then commended the President of the UAE for their shared relationship and efforts to “join hands with him to fully normalize and reset to excellence, the standard of relations between the two important countries.”

In 2022, the UAE banned nationals of Nigeria and a few other African countries from entering its capital city, Dubai, when it released a notice which partly read, “This is to inform you that we will not be posting 30 days visa applications for these nationalities effective today October 18, 2022.”

Ozioma Samuel-Ugwuezi

Arise TV

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Nigeria set to spend N224bn for wine import as consumption rises

Nigerian wine importers are to spend N244 billion ($485 million) on fortified, sparkling and still wine before the end of 2023. Findings by New Telegraph revealed that consumption had been further projected to rise to $557.96 million in 2024.

Data from Statista noted that the volume of consumption would hit 44.82 million litres by 2027 from 33 million litres in 2021.

The increase in demand for wine in Nigeria has hugely increased the demand for global wine exporters, Nigeria imported $136.66millionfrom United States in 2021. Also, United Kingdom shipped $31.1 worth of wine into Nigeria; Spain, $20.96 million; Brazil, $16million and South Africa, $15.7 million.

Spirits are also in high demand with GAIN estimating that 75per cent of the spirits consumed in Nigeria were locally made, while imported spirits accounted for $500million of the total value of spirits consumed between 2019 and 2020.  The global network platform further explained that the United States, European Union and South Africa were the leading suppliers to the Nigerian market despite the restriction.

It was noted that the importation of quality spirits had put pressure on local distillers in the country despite the local brands being cheaper. It noted that locally produced alcohol brands in Nigeria were lower in quality, branding and do not meet the standard in the growing alcoholic beverage market.

Source: New Telegraph

To find out more about Food and Beverage West Africa 2024 Click Here

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Nigerians imported over N18tn worth of meat, cooking oil and more over a seven year period

Nigerians imported not less than nine items worth N18.12tn from the forex ban list of the Central Bank of Nigeria between 2016 and 2022, findings by The PUNCH have shown.

The CBN had categorized about 41 import items as not valid for forex, which means that the importer will not be able to get forex from the apex bank for such items.

The apex bank said the restriction was part of efforts to sustain the stability of the foreign exchange market, ensure effective utilisation of foreign exchange and the derivation of optimum benefit from goods and services imported into the country.

However, these items were not banned or prohibited by the Nigerian Customs Service, so they can still be imported.

According to an analysis of Nigerian Foreign Trade reports of the National Bureau of Statistics from 2016 to 2022, items such as crude palm oil, vegetable products, animal products, meat, vegetable fats and oil, steel products, rubber, plastic, clothes, and textiles were imported from various countries.

Source: Punch, April 2023

To find out more about Food and Beverage West Africa 2023 Click Here

To book a stand at Food and Beverage West Africa 2023 Click Here

International food and drink businesses drawn to new trade show in Lagos

More than 150 exhibitors are set to participate in the Food and Beverage West Africa exhibition

Local food and beverage industry businesses will have an important opportunity to meet international F&B companies at a new exhibition in Lagos.

More than 150 exhibitors are participating in the Food and Beverage West Africa (FAB) show which opens its doors from June 18th to 20th at the Landmark Centre on Victoria Island. Over a third of exhibitors are from Nigeria however, more than 20 countries will be represented, with Benin, Morocco, South Africa and Kenya among the participating African countries.

Dedicated country pavilions will be found for exhibitors from Egypt, Denmark, India, Pakistan, Turkey, Indonesia and Sri Lanka. In addition, exhibitors are expected from the Middle East (Saudi Arabia and the UAE), Europe (Belgium, The Netherlands, Poland, Russia, and the UK) and New Zealand, China, and the Phil

ippines.

The show organiser, BtoB Events, is keen to promote the role of local small and medium sized enterprises in the food and beverage industry, Keen to emphasise this, they have organised a dedicated zone at the hub of the FAB exhibition specifically for Nigeria’s SMEs. BtoB Events Managing Director Jamie Hill explains: “We regard Food & Beverage West Africa as the premier exhibition dedicated to West Africa’s food and beverage industry. The exhibition will bring a host of guests and exhibitors from around the world together under one roof, to celebrate and explore future opportunities within the F&B industry. Guests can discuss opportunities face to face and start to build those all-important business relationships for future success.”

The exhibition will host a specific SME Zone, enabling local SMEs to benefit from this annual platform and showcase what they have to offer alongside the local and international power houses across the sector. “By offering local SME’s the opportunity to participate we hope to facilitate their growth in the market and work towards the long-term goal of increasing local production and exports from Nigeria across the region,” explains Mr Hill. BtoB Events hopes the show will encourage greater recognition about the growing independence of the market with the show creating new business opportunities to support businesses and ultimately help reduce imports.
“Whilst Nigeria is currently doing a great job in reducing its dependence on food importation, Food & Beverage West Africa will provide a unique opportunity for local producers to source the latest technology across the food production sector from ingredients to machinery,” says Mr Hill. “Many international companies are looking to move into the market for the first time to initially find partners, and then in the longer term look at establishing a manufacturing presence in the near future. We want FA to provide that platform so that food and drink businesses in Nigeria and West Africa can benefit from the exchange of ideas and trade.”

Just Food, the region’s leading provider of quality, global food equipment brands, is a Gold Sponsor of FAB. JustFood’s Chief Executive Officer, Mr Tunde Ogunrinde, explains why his company is participating: “We have business in Ghana, Nigeria, Ivory Coast & Senegal and will be in 16 West Africa countries within next 5 years; FAB allows us to gauge/propel market entry location by attendance levels from international markets somewhat.”

Another of the show’s partners is AgroNigeria, “a crucial stakeholder in the agricultural sector.” Its Executive Director, Mrs Idongesit Mbaram, comments: “AgroNigeria is supporting FAB because the event seeks to promote and project local and international brands. The ultimate objective here is to stimulate and sustain an economic revitalization in Nigeria leveraging the agricultural sector.The world is now a global village where companies and corporations compete and improve on themselves. With an international presence at FAB West Africa, local businesses will feel the importance of the event and also have the opportunity to examine innovations being made at international levels. Most importantly, connecting with key global trends is vital.”
Asked why international visitors should invest in West Africa and Nigeria, Mrs Mbaram says: “To quote the President of the Rockefeller Foundation, Dr. Rajiv Raj Shah, ‘African agriculture is at a defining moment.’ It has been highlighted by so many other scholars and international stakeholders that Nigeria is at the middle of it all, not only because of the availability of the market but also the availability of the resources and the willingness of its people to do business. This is more than enough reason for any investor to be bullish about Nigeria.”

The online community FoodPreneurs Hub is another of the show’s partners. Its spokeswoman Olushola Oladejo says they are participating because: “FAB West Africa is giving food entrepreneurs like us, a great opportunity to showcase our businesses to the world at the same time partner with international businesses.
“International representation is important and of great value because It means we can partner and connect with international markets and grow our businesses across the shores of this country.”

While the show is fast approaching capacity, BtoB Events is still inviting applications from exhibitors who can find out more about the show on the FAB website, https://www.fab-westafrica.com/or contact Mr Hill on Jamie.Hill@btob-events.com.

Anyone connected with the food and beverage industry, be that retailers, restaurateurs, bar owners, distributors, import/export businesses or regulatory can attend the show free of charge. Due to the anticipated level of interest, the show organisers are encouraging visitors to pre-register online for free at https://www.fab-westafrica.com/pre-registertoday-online/

Alternatively, WhatsApp ‘PRESS’ to +2348183818456.

Food and Beverage West Africa to showcase latest international innovations

New trade show launches later this month with 150 local and international exhibitors

The Food and Beverage West Africa exhibition in Lagos, Nigeria, is expecting to see more than 5,000 attendees from the industry over three days.

FAB West Africa is free to attend taking place at the Landmark Centre, Victoria Island, from June 18th to 20th

. Visitors will be able to discuss business opportunities and see the latest in F&B developments from over 150 exhibitors, both local and international.

Thousands of products, many of which will be showcased for the first time in the region, will be on display. Besides finding new products, attendees will also be able to source new and additional suppliers as well as keep up to date with new industry trends from around the world.

FAB is organised by BtoB Events. Btob Events Managing Director Jamie Hill explains: “Food and Beverage West Africa is the premier exhibition dedicated to West Africa’s food and beverage industry. The exhibition will bring a host of guests and exhibitors from around the world together under one roof, to celebrate and explore future opportunities within the Food & Beverage industry. Guests can discuss opportunities face-to-face and start to build those all-important business relationships for future success. Essentially anybody who is involved in the procurement of foodstuffs will be in attendance from fast food chains to supermarkets, retail stores to catering companies.”

As a business-to-business platform, the organisers of FAB have seen a particular interest from companies wanting to meet distributors from across the ECOWAS (Economic Community of West African States). Overseas exhibitors are also hoping to meet with a full representation of the Nigerian F&B industry, says Mr. Hill. “International companies are typically looking for importers of food and beverage products. The exhibition will give exhibitors the opportunity to demonstrate and give examples of their new and innovative products. Visitors will have the chance to see first-hand what to expect within the food and drinks sectors over the next few months.”

Event Gold Sponsor NASON

Nigerian businesses make up a third of the confirmed exhibitors. The exhibition even has a special zone for local small and medium enterprises (SMEs). “The ‘Made in Nigeria SME Zone’ will enable local SMEs to benefit from this annual platform and showcase what they have to offer alongside the local and international power houses across the sector,” says Mr Hill.
“By offering local SME’s the opportunity to participate we hope to facilitate their growth in the market and work towards the long-term goal of increasing local production and exports from Nigeria across the region.”  One of the show’s partners welcoming the focus within the SME sector is AgroNigeria. It’s Executive Director Mrs Idongesit Mbaram comments: “As a matter of fact, businesses under the F&B value chain should see the FAB West Africa as a rare opportunity to connect with suppliers, distributors, manufacturers and to build strong business relationships with clients from across Nigeria, neighbouring West African countries and around the world. Due to the almost steep nature of the agricultural sector, it is expected that an event like this will create an  avenue where local small and medium scale agricultural value chain establishments will come into contact with bigger corporations and do business.”

With exhibitors from over 20 different countries being represented over the three-day event, there will also be country pavilions and individual exhibition stands.
Just Food, the region’s leading provider of quality, global food equipment brands, is a Gold Sponsor of FAB. JustFood’s Chief Executive Officer Tunde Ogunrinde expects that visitors will want to engage in

Show Partner REFSPAN

practical discussions, see live demonstration of products, plus benefit from discounted offers on products. Attendees should make the most of good networking opportunities, with the “synergy between businesses,” he recommends. “FAB is a great place to meet various key stakeholders and decision makers in the food & beverage industry.”

 

Visitors will also be able to find out about the benefits of joining a trade association as a number are partnering the event. One of FAB’s partners is REFSPAN, the Restaurant and Food Services Proprietors Association of Nigeria. REFSPAN was previously known as AFFCON but recently changed its name to reflect the growing interest of other relevant business owners in the sector as prospective members. FAB attendees interested in joining REFSPAN should visit its stand for a free application form.
FAB is free to attend, and with so many visitors expected, the organisers are encouraging attendees to pre-register online for free at https://www.fab-westafrica.com/pre-registertoday-online/
Alternatively, WhatsApp ‘’PRESS” to +2348183818456.

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