Coca-Cola Taking Over Nigeria’s Chi Juice

Coca-Cola Taking Over Nigeria’s Chi Juice

By CultureBanx Team

  • In 2016, Coca-Cola bought a 40% stake in Chi juice

  • Nigeria’s population of 190 million lives on less than $2 a day

CBx Vibe:Nu Africa” CyHi The Prynce

Coca-Cola (KO +0.09%) is rapidly making acquisitions that could transform the company and diversify from its core business of sugary sodas. The beverage giant plans to buy-off the rest of Nigeria's Chi juice in 2019 for an undisclosed amount.

Why This Matters: Chi is Nigeria’s largest juice maker, known for its Chivita and Hollandia juice, dairy and yoghurt drinks. In 2016, Coca-Cola bought a 40% stake in Chi with the aim to increase ownership within three years.

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Mars Revamps Chocolate Candy Strategy in West Africa

Mars Revamps Chocolate Candy Strategy in West Africa

By CultureBanx Team

  • Mars is investing $1B in cocoa sustainability scheme

  • Ivory Coast and Ghana grow about 60% of the world’s cocoa

CBx Vibe:Some More” Future

The maker of popular candy Snickers and M&M’s wants to pony up more money for responsibly sourced cocoa. The new sustainability scheme will cost the company $1 billion over 10 years, as they try to corral the West African surge in cocoa production.

Why This Matters: Ivory Coast and Ghana grow about 60% of the world’s cocoa and want to regulate global supply to grab more of the profit. Candy makers like Mars usually buy cocoa six months in advance with cocoa accounting for about 20% of the average bar of milk chocolate. Mars wants all the cocoa it buys to be responsibly sourced by 2025. “We’ll see a combination of increased premiums overall and a bigger share of those premiums going to the farmers,” John Ament, global vice president of cocoa told Reuters.

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South Africa Banking on Black Owned Farms

South Africa Banking on Black Owned Farms

By CultureBanx Team

  • Only 7% of South Africa’s arable land was initially allocated to black people

  • Lenders have $10B outstanding in agricultural loans

CBx Vibe:Talk is Cheap” JMSN

Land reform in South Africa has been a hotly contested issue over the past several years and now banks in the region plan to to start a joint fund, as a way to protect their farm loans. Bloomberg reported lenders have around $10 billion outstanding in loans for agricultural land, according to the association that represents 35 local and international lenders.

Why This Matters: The Natives Land Act passed in 1913 only allocated 7% of South Africa’s arable land to black people, leaving more fertile land for white minority farmers. This is all changing now with the government and banks trying to accelerate the transfer of land to black people.

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