Coca-Cola HBC the parent company of The Coca-Cola Company in Nigeria said its sales volume in Nigeria has continued to nose-dive in a highly competitive environment. The global Coca-Cola company made this disclosure in its 2018 full year result released penultimate week, but stated that its Group volume increased by 4.2 percent in emerging markets, the volume also increased by 4.3percent with growth in all countries except Nigeria.
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Chi is Nigeria’s largest juice maker, known for its Chivita and Hollandia juice, dairy and yoghurt drinks. Peter Njonjo, president of Coca-Cola’s West Africa business, confirmed the acquisition deal to Reuters Coca-Cola is considering consumer's pocket According to Njonjo, the company is focusing on smaller bottles and cans which is another way the company is trying to woo cash-strapped consumers in Nigeria, which emerged from its first recession in 25 years in 2017 but continues to suffer from sluggish growth and high inflation.
Nigeria has been rated the 110th best country for business in the world in 2019, out of 161 graded countries. Top on the list are United Kingdom (1), Sweden (2), Hong Kong (3), Netherlands (4), New Zealand (5) and Canada (6). The United States of America is rated 17th. South Africa, according to the list released by Forbes, came first in Africa.