After a successful financial year that saw the International Breweries Plc (IBPLC), a proud part of AB InBev, growing its market share in Nigeria from 24.5 percent in 2017 to 35.5 percent in the first quarter of 2022, the company has celebrated its suppliers for their role in enabling its growth.
International Breweries is one of the top 20 most capitalised companies on the Nigeria stock exchange with a market capitalisation of ₦147.7 billion.
The company’s market share has grown from 24.5 percent in 2017 to 35.5 percent in the first quarter of 2022, according to the latest IBPLC financial report.
Speaking at a recent event in Lagos to mark 2022 Suppliers Day with the theme, ‘Driving Sustainable Growth through Innovation,’ Hugo Rocha, managing director of IBPLC, thanked the suppliers for their unwavering support that has resulted in the growth of the company.
“As we optimise our business, we want to be known for having core superiority, quality, and premium brands. We aim to digitise our relationship with more than 6 million customers globally. We are unlocking value through new businesses; the future is here and we are leading it with innovation,” Rocha said.
Read also: IBPLC honours distributors for value addition, growing supply chain
Rodrigo De Oliveira, vice president, Procurement and Sustainability, Africa at AB InBev, said the relationship with suppliers is vital to maintaining continued collaboration.
He applauded the IBPLC team and its suppliers for achieving 50 years and winning several awards despite operational challenges including unfavourable exchange rate.
Fayanmira Akintunde, director, Procurement and Sustainability, West Africa at IBPLC, who spoke on ‘Driving Sustainable Growth through Innovation,’ said no organisation can survive without innovation, which is why AB InBev’s ten principles center on change and innovation for consumers.
Fayanmira listed the benefits of innovation to IBPLC to include improved productivity, profitability and competitiveness, reduced cost, improved brand recognition and value, longer-term partnership, and increased turnover.
According to him, it also enables suppliers to expand clientele, reduce waste and costs, position ahead of the industry curve, improve brand recognition and value, enter new partnerships and relationships, and increase market share and bottom line.
Ayo Enikanoslu, of Masterstroke Packages Limited, and Benson Abayomi, of Culture Communications Limited, suppliers of the company, described doing business with IBPLC as rewarding and profitable despite the economic challenges.
