The Nation Newspaper

Tag: WAMCO

  • WAMCO partners UNDP on sustainable agriculture

    FrieslandCampina WAMCO Nigeria PLC, makers of high quality milk brands Peak, Three Crowns and Friso, has partnered with the United Nations Development Programme (UNDP) to air a 12-minute documentary about sustainable solutions for agriculture in Nigeria.

    The film spotlights FrieslandCampina WAMCO Nigeria Dairy Development Programme (DDP) as a successful inclusive business model, which includes cattle farmers in the company’s value chain; increase their incomes and improve their dairy development techniques.

    The documentary highlights enormous investment by FrieslandCampina WAMCO in dairy development in Nigeria and showcases its responsible engagement in the DDP communities, in Oyo State.

    The story focuses on the DDP and its role in working with local Fulani farmers to increase their milk yield and livelihoods. The film tells a human angle story with Musa, a local dairy farmer, and how his has changed by being part of the programme. This provides the viewer with an emotional connection to the story and a deeper appreciation for the DDP, its impacts and objectives.

    The film further explores FrieslandCampina WAMCO’s engagement with local smallholder dairy farmers and the company’s commitment to DDP communities.

    Corporate Affairs Director for FrieslandCampina WAMCO, Ore Famurewa explains: “The Dairy Development Programme enables dairy farmers to run their businesses optimally and bring dairy production to a higher volume and quality.

  • Ambode lauds WAMCO’s N2b warehouse

    The Governor of Lagos State, Akinwumi Ambode has commended Friesland Campina WAMCO Nigeria’s N2 billion mega warehouse in Lagos, and urged other companies to invest in the state.

    Speaking the commissioning ceremony in Ikeja, Governor Ambode who was represented by Lagos State Attorney-General and Commissioner for Justice, Adeniji Kazeem said the project would not only create more jobs Lagosians but would enable the reach of WAMCO’s products to more Nigerians, adding that the huge investment is a testimony that Lagos is investment haven and destination for investors.

    He said: “This event is remarkable for Lagos State, because it is another endorsement to our continuous efforts, to tell the world that Lagos is the place to invest. Over the years, WAMCO has proven itself to be a proactive company of integrity, professionalism with internationally acclaimed best practices. This I believe is the reason why the Peak brand has endured for so long and is still the leading and preferred milk brand today.”

    He urged the company to be diligent in tax payment, and always employ best practices in the discharge and management of its industrial waste and effluents. “In Lagos State, we emphasise the importance of paying your tax regularly. Companies and individuals, who evade tax, definitely work against the good of the society. Indeed the benefits of tax are enormous to the growth and sustenance of every progressive society with people oriented initiatives. It goes a long way to facilitate government policies, economic system as well as social infrastructures.

    “I want to assure you that our government is unrelenting and we will not rest in order to ensure that a safe and business friendly environment is guaranteed,” he added.

    The Managing Director of FrieslandCampina WAMCO Nigeria Plc, Mr. Rahul Colaco assured of quality dairy production for Nigerians. He said the company invests an average of N4 billion yearly in Nigeria.

    Colaco said the new warehouse sits on a 3.5 acre of land and a capacity of over 14,000 pallet positions and is executed with LED lights which avail brighter surroundings in alignment with environmental Green Goals.

  • How we’re boosting dairy farming, by WAMCO chief

    The Managing Director/Chief Executive Officer, Rahul Colaco has restated the commitment of the firm to raise the standard of food nutrients in the country by boosting dairy farming.

    He said the firm is at the forefront of boosting dairy farming and making farming an attractive occupation to small scale entrepreneurs.

    Speaking during a courtesy visit to the Minister of Agriculture and Rural Development, Chief Audu Ogbeh in Abuja, at the weekend, he said as a major partner to the Federal Government, the firm, with its ongoing multibillion naira dairy development and expansion programme, with over 2500 local dairy farmers, is a reaffirmation of its commitment to growing Nigeria’s dairy industry.

    He said: “On our part, we are committed to raising dairy farming to a higher level in Nigeria and making small scale entrepreneurs to have pride in agriculture. Through our dairy development programme, we develop local farmers in three ways: through practical knowledge transfer by local FrieslandCampina dairy development officers; expert training on feeding, breeding, hygiene, disease control and milk payment, and; financing of local infrastructure such as milk collection centres, boreholes, milk collection trucks, among others.”

    The objective is to raise raw milk quality and safety, increase farm productivity and support farmers in getting a market for their milk.

    The firm showed a 12-minute documentary detailing how it has improved the dairy farming skills and incomes of Fulani herdsmen from subsistence to growing commercial farming. The documentary was produced in collaboration with the United Nations Development Programme (UNDP).

    The minister commended the firm for its commitment and noted that the government is making steady progress in harnessing dairy farming in the country, adding that it should, in the next four years, see some of the benefits of its investments and partnerships, which will be reviewed for future growth.

    The Federal Ministry of Agriculture signed Memorandum of Understanding (MoU) with FrieslandCampina WAMCO in April 2011 on dairy development. He said: “Since then we have been making steady progress. For us this is a privilege and a responsibility that is fully linked with our mission statement of nourishing Nigerians with quality dairy nutrition and this addresses issues of nutrient security, dairy sufficiency and improving farmer’s income.”

  • WAMCO to invest N4b yearly to enhance capacity

    •Three months nutrition intervention for Borno IDPs begins

    Friesland Campina WAMCO Nigeria Plc, manufacturer of Peak Milk brands, has earmarked  over N4 billion yearly to grow its operations, enhance capacity, create employments and a healthy populace in the country, its Managing Director, Mr. Rahul Colaco, has said.

    Colaco, who spoke in Lagos at the weekend during the launch of low priced brands of Peak milk called ‘Peak Wazobia’ and a range of other low unit portion packs of Peak and Three Crowns evaporated and powdered milk in N20 and N50 sachets, said developing human capacity is central to its operations.

    He also told The Nation that the diary company has commenced a three-month nutrition intervention for Internally Displaced Persons (IDPs) in Borno State to check incidence of malnutrition. He said three months ago, workers of the company visited the IDPs in Borno State where they contributed household goods, among other items to them.

    He explained that the company decided to provide children in the IDP camp with milk for three months to prevent them from malnutrition and other health-related issues. According to him, at the end of the intervention, the company would measure the impact and result before deciding on the next line of action, adding that the firm is committed to making quality nutrition available to Nigerians.

    Colaco said the aim of introducing Peak Wazobia into the market was to increase consumers’ options of quality dairy products. This, according to him, is because Peak Wazobia costs N50 per sachet, even as the company has assured consumers that the quality would never be compromised.

    On the new products, Colaco said: “We are key players in feeding Nigerians. For us this is a privilege and a responsibility that we are fully committed to. Of course, this initiative is fully linked with the pillar of our mission statement which addresses issues of nutrient security.

    “This pillar focuses on issues of malnutrition, which is also a growing national concern. We believe that with daily consumption of milk through increased accessibility of quality dairy nutrition, consumers have the opportunity of getting up to 50 per cent of the nutrients that they require daily, which the body cannot make on its own.”

    A Professor of Community Health Nutrition and Nutrition Consultant, Ladoke Akintola University of Technology (LAUTECH), Ogbomosho, Prof. Ebenezer Ojefitimi, in his presentation titled: The role of dairy in promoting nutrition: A public health perspective, said the benefits of quality nutrition in preventing issues of malnutrition across all life stages and economic groups.

    “Dairy and its products should be endorsed as an integral component of healthy patterns. After all, they are nutritionally beneficial, environmentally sustainable, economically viable and culturally acceptable. Dairy and its products have the potential to assist us to achieve our number four and five millennium development goals (MDGs),” he said.

  • FG targets 30m pupils in ‘free milk’ programme

    As part of efforts to ‎check malnutrition among school pupils, the Federal Government has concluded plans to provide free daily milk to 30 million children pupils in primary and secondary schools across the country.

    The gesture was aimed at implementing the free school feeding programme promised by President Mohammadu Buhari during the 2015 electioneering campaign.

    The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, disclosed this during a meeting with a team from the West African Milk Company (WAMCO) in Abuja.

    ‎The minister said based on United Nations Educational, Scientific and Cultural Organisation UNESCO report, at least 24 per cent of Nigerian children under the age of five are underweight, while 37 per cent are severely malnourished.

    He said the effect has serious implication on the intelligent quotient of the children.

    However, Audu gave assurance that the situation‎ would be addressed.

    He said the ministry will in 2016 commence programmes to develop massive grazing fields for cattle.

     

  • WAMCO chief urges good nutrition for kids’ brain devt

    FrieslandCampina WAMCO Nigeria Plc has stressed the need for proper nutrition for children, especially in the first five years,  to facilitate their brain development.

    Its Managing Director,  Mr. Rahul Colaco who spoke during the firm’s 10th Annual Nutrition Seminar with Physical growth and brain development of the Nigerian child: The challenge of our time as its theme reiterated the company’s commitment to nourishing Nigeria with quality dairy nutrition; part of which includes providing adequate up to date researched information on child nutrition.

    Hesaid: “FrieslandCampina invests huge funds in research and development of quality and affordable products to cater for the various needs of the consumer. So we are confident of our support to healthcare practitioners in ensuring proper child nutrition.”

    Declaring the forum open,  wife of Lagos State Governor, Mrs. Bolanle Ambode, said lack of awareness by mothers on what adequate nutrition is and the significance of nutrition in the first five years of a child’s life.

    She urged healthcare practitioners to “use the opportunity of the Nutrition Seminar organised by FrieslandCampina WAMCO Nigeria to fashion out new strategies, and new perspectives alongside the sharing of current knowledge on ways to improve the nutritional well-begin of the Nigerian child.”

    Renowned Professor of Pediatrics and President Pediatrics Association of Nigeria, Adebiyi Olowu; and Dr Anne Schaafsma, Senior Scientist, Global Nutrition Development, FrieslandCampina Innovation Centre, The Netherlands were lead speakers on the occasion.

    Research papers on the importance of nutrition for the optimum brain development of a child were presented. According to them, brain development and the mental health of a child are essential and should never be neglected.

    The first five years of development of a child is crucial and represents the period the child significantly needs essential nutrients that support overall brain development, especially docosahexaenoic acid (DHA), the submitted.

    The speakers noted that children whose diet lack important fatty acids such as docosahexaenoic acid (DHA) have been found to be at risk of attention deficit hyperactivity disorder, unipolar depression and aggressive hostility. When infants are fed with  the appropriate food essentials, they become smarter, faster and happier.

  • WAMCO trains 350 dairy farmers

    FrieslandCampina WAMCO PLC has inaugurated a Dairy Development Programme (DDP) in Iseyin, Oyo State, to increase local milk production.

    The company, which is the maker of Peak Milk, Three Crowns Milk and Friso Milk, said the DDP will enable dairy farmers to run their businesses optimally and increase the volume and quality of dairy products made locally.

    At the ceremony yesterday, the company’s Managing Director, Mr. Peter Eshikena, said the DPP was to support the Federal Government’s initiative to develop dairy farming in Nigeria.

    He said: “Our company commenced collection of fresh milk from Shonga Dairies in Kwara State. Over the course of four years, the success of the programme has necessitated an expansion in our operating areas; Oyo being a key focus area.”

    Eshikena said over 350 farmers in Fasola, Alaga, Maya-Eruwa and Iseyin were registered and trained in raw milk hygiene, raw milk quality and financial education, among others.

    He said there are four equipped milk collection centres in Fasola, Alaga, Maya-Eruwa and Iseyin and a milk bulking centre with about 72 farming communities actively engaged in dairy farming.

    Chairman, WAMCO Board of Directors, Joseph Ajekigbe said in addition to conserving foreign exchange for the country, the DPP creates jobs for youths.

    Ajekigbe said: “In addition to assisting existing farmers to become better farmers, the programme provides an opportunity for interested individuals to be trained in dairy farming techniques and set up their own farms.”

  • Investors stake N79m on NASD’s unlisted securities

    The NASD Over-the-Counter (OTC) trading platform has recorded 42 deals worth N79.12 million on five firms, nearly nine months after its launch.

    Trading summary obtained by The Nation showed that the deals were struck on 248,165 shares of five firms. They include Friesland Campina WAMCO Nigeria Plc, Niger Delta Exploration & Production Plc (NDEP), Industrial and General Insurance (IGI) Plc, Food Concepts Plc and Consolidated Breweries.

    Formerly known as the National Association of Securities Dealers, NASD Plc is a registered over-the-counter (OTC) trading platform for unquoted securities, including equities and bonds. NASD is owned by various investment and financial institutions as well as strategic investors. It is registered by the Securities and Exchange Commission (SEC) as a platform for unlisted securities. The NASD, which was launched on July 1, last year and started trading the following day.

    The trading summary indicated that WAMCO remained the main driver of the OTC platform, accounting for more than three-quarters of market transactions. Besides, WAMCO is the only actively trading stock so far in 2014. WAMCO recorded a turnover of 178,859 shares valued at N71.72 million in 32 deals, representing 76 per cent, 72 per cent and 90 per cent of aggregate deals, volume and value of transactions on the OTC platform since inception.

    The turnover indicated an average price of about N401 for WAMCO, placing the Peak Milk-manufacturer as the second highest-priced stock if it were to be listed on the Nigerian Stock Exchange (NSE). Nestle Nigeria Plc is the highest-priced stock at the NSE with current market consideration at N1, 060 per share.

    Further analysis showed that Food Concepts has recorded two deals for 35,000 shares valued at N47,250. NDEP recorded a turnover of 20,000 shares valued at N6.24 million in four deals. Consolidated Breweries also recorded three deals for 13,312 shares worth N1.11 million while a deal was struck for 1,000 shares of IGI worth N2,500.

    There are 10 firms on the NASD. The other listed companies included BGL Plc, Geo-Fluids, Jaiz Bank, Swap Technologies and Telecomms and Resourcery Plc.

    Several stockbroking firms, which are equally members of the Nigerian Stock Exchange (NSE), have also signed on to the OTC trading. These included GTI Securities, Anchoria Investment Securities Limited, APT Securities and Fund Limited, BGL Securities limited, Capital Bancorp and FCSL Assets and Management Company Limited among others.

    Trading on the NASD OTC is expected to gather momentum as the trading platform steps up efforts to source private placements and unlisted public offerings.

     

    Besides, the NASD would also offer trading platform for shares of companies who voluntarily delisted their shares or were compulsorily delisted by the NSE if they meet the requirements of the OTC.

    NASD recently indicated it has identified not less than 237 public limited liability companies (Plcs) that could potentially list their shares on the OTC platform in the months ahead. These included previously listed stocks on the NSE that were delisted and companies with no prior listing profile. These potential new listings on the NASD included Abplast Products Plc, Abuja Electricity Distribution Plc, Acorn Petroleum Plc, Afam Power Plc, Afcott Nigeria Plc, Afprint Nigeria Plc, Afren Plc, Africana First Publishers Plc, Ag Homes Saving & Loan Plc, Agip Nigeria Plc, Air Liquide Nigeria Plc, Albarka Air Plc, Allied Energy Plc, Alpgam Energy Plc, Anambra Aluminium Products Plc, Antonio Oil Plc, Aoteoil Plc, Arable Crops Development And Marketing Company Nigeria Plc and Arm Plc among others.

  • WAMCO distributes Peak School Smart

    FrieslandCampina WAMCO Nigeria PLC, makers of Peak, Three Crowns and Friso, is celebrating Christmas and the New Year with pupils across the country with Peak School Smart, a nourishing dairy-based product.

    As part of its Corporate Social Responsibility, the firm is giving out thousands of Peak School Smart products to schools, non-government organisation (NGO) and charity organisations to boost end-of-year activities and to ensure that children maximise the joy of the season.

    In a statement, the company’s spokeswoman, Ore Famurewa, affirmed that the gesture is part of the company’s “catch them young initiative” nationwide.

    She said: “We are aware that everyday children have so much to learn and they need to stay alert to keep learning.

    “Good nutrition is very important for a child’s brain to develop and function well, hence our recent launch of Peak School Smart, a delicious ready to drink flavoured UHT milk product specially formulated for school children.”

     

  • WAMCO is worth N244b as NASD’s companies rise

    FrieslandCampina WAMCO Nigeria Plc, one of Nigeria’s largest unquoted public limited liability companies, has a potential market value of more than N244 billion, making it Nigeria’s 11th most capitalised company if the dairy product company were to be quoted.

    WAMCO, the manufacturer of popular milk brand-Peak, is the flagship trading stock on the NASD Over-the-Counter (OTC) market. NASD Plc is a registered OTC trading platform for unquoted securities including equities and bonds. NASD is owned by several investment and financial institutions as well as strategic investors. It is registered by the Securities and Exchange Commission (SEC) as an organized trading platform for unlisted securities.

    Trading data on the NASD OTC obtained by The Nation showed that investors have over the past six weeks sustained a price of N500 per share for WAMCO, valuing the company at N244.1 billion.

    According to its annual report made available by the OTC, WAMCO has total outstanding shares of 488.168 million ordinary shares of N1 each. Nigerian investing public holds 32.18 per cent equity stake with 160.15 million shares. Bank of Industry (BOI) holds 12.61 per cent equity stake with 61.57 million shares while the foreign majority shareholder-Friesland International Beheer BV holds 54.58 per cent equity stake with 266.45 million shares.

    With OTC value of N244.1 billion, WAMCO’s stand-alone value is higher than the entire stocks listed under several sectors at the Nigerian Stock Exchange (NSE) including conglomerate, insurance, agriculture, construction and healthcare.

    The valuation implies that if WAMCO were to be listed, it would be one of the decisive stocks that form NSE 30 Index and NSE Consumer Goods Index as well as hold significant influence on the common value-based index, the All Share Index (ASI). WAMCO’s N244.1 billion represents about 2.11 per cent of total market capitalisation of the NSE.

    WAMCO’s N244.1 billion capitalisation trails United Bank for Africa (UBA), which opened this week as the 10th most capitalised stock on the NSE with market capitalisation of N248.68 billion. Other top-10 most capitalised companies included Dangote Cement, N3.20 trillion; Nigerian Breweries, N1.27 trillion; Guaranty Trust Bank, N743.14 trillion; Nestle Nigeria, N741.13 trillion; Zenith Bank, N632.33 billion; FBN Holdings, N538.43 billion; Guinness Nigeria, N382.56 trillion; Lafarge Cement Wapco Nigeria, N285.15 trillion and Access Bank, which ranked 9th with market capitalisation of N250.57 billion.

    Over the weeks, investors had struck four deals for 32,180 shares of WAMCO valued at N16.09 million at a price of N500. WAMCO, which has about 1780 shareholders, has been the only stock trading on the NASD OTC.

    WAMCO was incorporated as a private limited liability company in April 1973 and commenced operations in September 1975. It converted to a public limited liability company in 1978 but it has since not listed its shares on the NSE unlike several other multinationals.

    Meanwhile, the number of companies on the NASD has increased to five with the admission of Consolidated Breweries for trading on the OTC. Other companies on the OTC included Niger Delta Exploration & Production Plc (NDEP), Industrial and General Insurance (IGI) Plc and Food Concepts Plc have also been admitted and registered for trading on the OTC.

    Fourty four stockbroking firms and 16 issuing houses have also signed on to the OTC trading. These included GTI Securities, Anchoria Investment Securities Limited, APT Securities and Fund Limited, BGL Securities limited, Capital Bancorp, Afrinvest West Africa and FCSL Assets and Management Company Limited among others.

    Trading on the NASD OTC is expected to gather momentum as the trading platform steps up efforts to source private placements and unlisted public offerings.

    Besides, the NASD would also offer trading platform for shares of companies who voluntarily delisted their shares or were compulsorily delisted by the NSE if they meet the requirements of the OTC.

    A source in the know of the operations of the OTC had said it would create a liquid and transparent secondary market for shares in private limited liability companies and public limited liabilities companies which had balked at listing on the NSE after initial promises of listing.

    During the 2005-2008 market boom, several private limited liability companies had converted to public limited liability companies and floated IPOs to raise funds from the capital market with assurances that they would list their shares after the conclusion of the offer. While some have listed, many companies that floated IPOs have backed down from listing their shares.

    Retail investors have said the non-listing of the shares of the companies which had undertaken IPOs during the stock market boom have locked down their funds without any verifiable means of accessing such funds.

    Investors also have some N300 billion stuck in several delisted companies. The NSE had delisted not less than 44 companies since 2009 largely due to failure to meet listing requirements for the main board. Many companies had however opted for voluntary delisting including Nigerian Bottling Company (NBC).

    The NSE had in several batches invoked compulsory delisting to clear what it considered as irredeemably inactive companies. Some of the delisted companies included Okitipupa Oil Palm, Grommac Industries, Incar Nigeria, Intra Motor, Rietzcot Nigeria, Albarka Air, Aviation Development Company, Ceramic Manufacturers Nigeria, Wiggins Teape Nigeria, Onwuka Hi-Tek, Beverages West Africa, Ferdinand Oil, Foremost Diaries, Tate Industries, Footwear and Accessories Manufacturers, Aboseldehyde Laboratories, BCN, Christlieb and Maureen Laboratories.

    Others included Epic Dynamics, Liz-Olofin and Company, Nigerian Lamps Industries, Niyamco, Oluwa Glass Company, West Africa Glass Industtry, Aba Textile Mills, Asaba Textile Mill, Enpee Industries, Flexible packaging, Krabo, NewPak, Nigercem and Tropical Petroleum.