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international Leventis
Group traces its presence in Nigeria back to the early 1920s when
its founder, Cypriot-born Anastasios G. Leventis, set up an import export
business. The group’s sustained confidence in the country is reflected
today in the hugely diverse activities of its operations in Nigeria,
which make it one of the biggest companies in West Africa.
The Leventis Group in Nigeria is a hugely diverse conglomerate consisting of A.G. Leventis (Nigeria), the Nigerian Bottling Company, Frigoglass Industries (Nigeria) and Consolidated Breweries.
The A.G. Leventis Group (Nigeria) was incorporated under its present name as a limited liability company in 1958, converting to a public company in 1978. Its principal activities include sale and servicing of cars, commercial vehicles, agricultural and construction equipment and property letting.
Managing Director Andreas Loucas (INTERVIEW) says Leventis’s long history of business in the country has been characterised by strong commitment and flexibility. “We always look out for opportunities and changing trends and try to adapt to them and make the most of them.”
He believes that, despite the tough business environment, Nigeria offers big potential to investors who are prepared to stay the course. “Most of the companies that have been here over the last 20 years have seen handsome growth,” he observes.
A.G. Leventis (Nigeria) saw improved results last year, following a reorganisation. Turnover was N6.1 billion (£25.8 million), as against N5.6 billion (£23.7 million) in 2003, while profit after tax and minority interest stood at N242.3 million (£1 million), compared with N131.5 million (£556,000).
The Nigerian Bottling Company (NBC) is the sole manufacturer and distributor of Coca-Cola, Sprite and Fanta soft drinks in Nigeria, where it has been operating since 1951. NBC is the largest employer of labour outside the non-oil sector of the Nigerian economy with 16 production plants, 86 depots and 200,000 distribution depots across the country.
The company has taken giant strides since 2000, this year recording a record turnover for 2004 of N47.5 billion (£200 million), as against N43.9 billion (£185 million) in 2003.
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Bashorun Adesanya (INTERVIEW), NBC’s Executive Chairman, affirms the Leventis Group’s confidence in the country. “Leventis Group believes very much in the future of Nigeria,” he says. “That is why we keep investing and re-investing in whatever we are doing. We believe that the future is bright and, as such, we can confidently say to other investors who have not experienced Nigeria before, to please come over.”
Foundation targets agriculture
The Nigerian branch of the A.G. Leventis Foundation, which supports educational, cultural and philanthropic causes, was established in 1988.
The Foundation’s main focus in West Africa is the training of young farmers in modern agricultural methods, for which purpose it has established five agricultural schools in Nigeria and Ghana. Around 300 students are offered one-year courses annually. “At the end, we give them a soft loan to get started,” explains Mr Adesanya. “The multiplier effects are tremendous because these people go back to their respective areas to lecture and spread the gospel to their neighbours.”
Tel: +44 20 76296213, Fax: +44 20 74953707 - [email protected]