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Nairaland Forum / Nairaland / General / Business / Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages (10627 Views)
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Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Adesiji77: 5:21pm On Sep 21, 2016 |
LAGOS, Sept 21 (Reuters) - Guinness Nigeria said on Wednesday that it had received a $95 million loan from parent Diageo to help it cope with dollar shortages in the West African country caused by a slump in crude prices.http://af.reuters.com/article/nigeriaNews/idAFL8N1BX37P lalasticlala, dominique, Mynd44 |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by davide470(m): 10:28pm On Sep 21, 2016 |
At least Nigeria is still a viable ground for Diageo, hence it's support for the brand. Guinness should learn from NB. Take the products to the streets, empower your sales rep, not sponsoring useless shows and all the unprofitable events. Btw 3M Libor plus 4.75% is quite good! while our Nibor is currently at a double digit rate. Smh. 11 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by StephanieLuv(f): 6:57am On Sep 22, 2016 |
Guinness Nigeria on Tuesday recorded a [size=15pt]pretax loss of 2.35 billion naira for 2016, its first loss in 30-years, hit by declining sales, dollar shortages and domestic inflation running at 11-year high of 17.6 percent[/size]. 6 Likes 1 Share
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Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by hobermener: 6:57am On Sep 22, 2016 |
T |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by iHustle336: 7:02am On Sep 22, 2016 |
Other firms should follow suit and stop laying off staff, or suspend operations, since they enjoyed profit in our time of boom, they need to stick around and help pull us out of this mud. Once we bounce back, the profits will come pouring again. 2 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by HtwoOw: 7:03am On Sep 22, 2016 |
Low interest loan I presume? Only a few people will understand this comment 2 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by abumeinben(m): 7:04am On Sep 22, 2016 |
One quick question... What if Guinness Nigeria did not have a parent body? 16 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by deebrain(m): 7:04am On Sep 22, 2016 |
3 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by buchilino(m): 7:05am On Sep 22, 2016 |
DESPERATE TIMES CALLS 4 DESPERATE MEASURES. |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by SamuelAnyawu(m): 7:08am On Sep 22, 2016 |
Abeg Guinness top management killed its sales volume in Nigeria. Is Sabmillers and Nigeria Breweries complaining? Insiders know the truth biko 4 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by sotall(m): 7:08am On Sep 22, 2016 |
k |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Nobody: 7:09am On Sep 22, 2016 |
D |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Nobody: 7:09am On Sep 22, 2016 |
A pretax loss of 2.35 billion naira for 2016 since 30-years, hit by declining sales, dollar shortages and domestic inflation running at 11-year high of 17.6 percent. All these were caused by our incompent 'Oga at the top' and his quack team of economic advisers. Hope this doesn't translate to mass sack. 5 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Pavore9: 7:09am On Sep 22, 2016 |
"Longer term we intend to source raw materials locally," Plumridge told an analysts' call....The economy is now pushing many to look inward! 17 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by opalu: 7:09am On Sep 22, 2016 |
Hmmmm |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Nairadays: 7:10am On Sep 22, 2016 |
Borrowing is allowed in business. |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Phiniter(m): 7:11am On Sep 22, 2016 |
Imagine a Big brand like Guinness doing this. Only Jah knows what would the smaller startup business do? |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Pavore9: 7:13am On Sep 22, 2016 |
abumeinben: There are many companies in Nigeria that do not have foreign parent body but are pushing through and are now making use of local substitutes only importing what is not locally available! 5 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Allwility: 7:14am On Sep 22, 2016 |
Guinness don hear am Meanwhile this part got me thinking... It said it would cut its total dividend to 0.50 naira for 2016 from 3.20 naira a year ago and also cut 310 staff in the last quarter of the year, the CFO said." |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Nobody: 7:15am On Sep 22, 2016 |
The reason for dollar shortage is as a result of restrictions of dollar to manufacturers to source raw materials abroad which are not available in the country and not as a result of slump in crude oil price. |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by ednut1(m): 7:15am On Sep 22, 2016 |
davide470:3months libor is 0.8. , so d rate is 0.8 + 4.75( as agreed by both parties). as u said double digit lending we currently have is pure nonsense 3 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by feelamong(m): 7:19am On Sep 22, 2016 |
Guiness Management is filled with Olodos... They should go and look at what Nigeria Breweries PLC is doing and getting right! NB saw that the so called growth of Nigeria economy in the past 7 years was a scam and invested heavily in smaller breweries that produce cheaper and local beer that the locals can afford to buy...that way they can drive volumes of sales using the NB distribution network! How many bottles of Orijin or Guiness stouts can a low wage worker or student buy? Compare that with no of bottles of Life beer or champion or goldsberg they can buy... As it is in Naija... we have been having more poverty in the past 6 years....only a change in strategy and not loan can save Guiness now!! 12 Likes |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Nobody: 7:19am On Sep 22, 2016 |
Pavore9:Where are the local materials found? |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by ifedayor: 7:22am On Sep 22, 2016 |
All izz. Well... 1 Like 2 Shares |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by lightheart(m): 7:24am On Sep 22, 2016 |
Pavore9: You see. |
Re: Guinness Nigeria Gets Diageo Loan To Help With Currency Shortages by Pavore9: 7:24am On Sep 22, 2016 |
Love Machine: They can be grown and Guinness knows that! Oil made us lose sight of many possibilities and weakened our internal capacities. 2 Likes |
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