Legacy companies still blazing trails
By Felicia Nwosu
Doing business in Nigeria, is daily, becoming a herculean task. This is because an average Nigerian business will have to contend with power, a hostile regulatory environment, multiple taxations, spiraling inflation, and deteriorating ease of doing business. The concomitant effect is that new businesses seldom survive while many existing ones totter on the brinks.
These challenges notwithstanding, a lot of companies have been able to thrive over the years. Their resilience, reliability, and resourcefulness have not only helped them navigate the tedious Nigerian business environment, but these qualities have also earned them customers’ emotional connections that transcend generations all of which have helped in exalting them to the heritage company/brands status.
It is against this premise that MARKETING EDGE, the foremost advertising, marketing, and brand-centric magazine in furtherance of its vision of expanding the frontiers of marketing and advertising knowledge and also serving as an avant-garde news media platform for both the brands and the consumers, has painstakingly dug out some of these companies that have served Nigerians for several generations as legacy companies.
FirstBank
Since 1894, this ancient but trendy banking institution is truly the first financial institution and Nigeria’s premier commercial bank. Its recognition as the ‘first bank’ goes beyond being a pioneer but a founding financial institution in the history of West Africa.
Its people-centric pay-offline, ’You First’ has for more than a century, remains its driving philosophy, which has sustained each generation of customers, who have been endeared to the bank as it evolves through the years.
After operating for over 128 years with awards and recognitions to show for its commitments and accomplishments in banking, corporate philanthropy, socio-economic development, support to businesses, and commercial activities, FirstBank is showing no signs of stopping or slowing down.
UBA
Africa’s global bank, United Bank for Africa (UBA) Plc. and leading Pan-African financial institution was the successor company to the British and French Bank Limited (BFB) which was founded in 1948. It took over the assets and liabilities of BFB and was incorporated as a limited liability company in 1961.
The Multinational pan-African financial services group which has ‘the wise choice in banking’ as its pay-off line, lived up to the billing as the bank for Africa by deepening its market penetration and extending its payment services to merchants and consumers across 20 key African countries in which it operates. The Bank’s solid financial performance, excellent service delivery to customers, and its continuous role in facilitating rapid economic growth across the African continent were some of the reasons that led to the bank being named the best bank in 12 of its African subsidiaries and in Nigeria.
Nestle
Nestlé, arguably, the world’s largest food & Beverage Company started operations in Nigeria in 1961. Modeled on Nestle’s global ethos of eco-friendliness and health-consciousness, the company was established with the mission to unlock the power of food to enhance the quality of life for everyone, today and for generations to come. Its values are guided and rooted in respect by shaping a better and healthier world. Nestle has continued to build on the legacy of its founder Henri Nestlé who created a life-saving infant cereal more than 150 years ago. The global company proudly parades more than 2000 brands ranging from global icons to local favourites and is present in 187 countries worldwide. Nestle has fulfilled its promise and purpose with renewed vigor in enhancing the quality of life and contributing to a healthier future by sustaining Nigerian consumers for more than six decades since it made its grand entry in 1961
Unilever
Unilever, the multinational consumer goods and leading FMCG company, was established in 1923 as Lever Brothers (West Africa) Limited, for over seven decades before it became Unilever in 2001. In a bid to sustain its competitive advantage over rival companies and intensify market growth, Unilever has gone deeper to effect structural changes to its entire marketing process as it aims to provoke and integrate more diverse and inclusive thinking across every brand, from new product development through to advertising production. It is a multinational company that prides itself on over 400 brands under its roof. The leading FMCG Company has the total well-being of its consumers as its core mandate.
Cadbury
Cadbury is a quintessential company with strong brand recognition and emotional connection with Nigerian consumers. It is focused on nourishing and delighting our consumers with the right snacks. Cadbury Nigeria was incorporated in 1965 and is the market leader in sugar confectionery, gum, and food beverages in Nigeria with strong market shares across all three categories. The company operates through two segments, Confectionery and Food Drinks, and Intermediate Cocoa Products. Despite its long existence in the market, it has continued to reignite older consumers with nostalgic memories.
PZ Cussons
PZ, home to some of the world’s best-loved and most trusted brands has for more than a hundred years, exemplified the essence of brand-building through its strategy that is geared toward building brands for life. Its concern, as an international consumer goods business, is to champion the well-being of people. It is also focused on building brands so that it can serve more consumers and serve them better in the future. Paterson Zochonis, popularly known as the PZ industry, was formed by George Zochonis and George Paterson) in 1884. It expanded its operations into Nigeria before the end of the nineteenth century. Over the years, PZ has restructured itself by diving into various categories and segments in a bid to deliver improved products and services to its consumers
Coca-cola
Coca-Cola, Nigeria’s foremost iconic brand and the world’s no.1 carbonated soft drink (CSD), was birthed with the vision to refresh the world and make a difference. It partnered with the Nigerian Bottling Company Limited (NBC) to bring this utmost refreshment to the doorstep of every Nigerian since 1953; a partnership that has been rewarding to every party, Coca-Cola Inc., the Nigerian bottling Company, and the consuming public. The legendary brand has existed in Nigeria for seventy years. Coca-Cola has been at the forefront of unifying divergent views and positions as it is driven by the purpose of bridging the divide that exists in society.
7UP
Seven-Up was incorporated in Nigeria in 1959 as a Private Limited Liability Company under the name Seven-Up Limited. Its name was later changed to Seven-Up Bottling Company Plc. in 1991 to comply with the Company and Allied Matters Act 1990. As a brand that possesses the Naija spirit, it has proven that to build strong, lasting, engaging relationships with consumers, it needs to meet the people at their passion points. 7 UP has continued to arrest the hearts and emotions of the people y its sundry investments in football, music/entertainment, and education. This informed the move to grow and build the future of football in Nigeria through the 7Up Football Academy to nurture the best budding young football stars in Nigeria by providing them with the perfect platform for Stardom. It currently boasts of over 3,000 registered students aged between 6-18 years.
FrieslandCampina WAMCO
This company for more than 60 years has occupied the royal seat as No.1 in the dairy sector of the Nigerian market. With so many milk brands, FrieslandCampina WAMCO as the leading company has learned to leverage consumers’ insight through experience to break through and establish a meaningful presence in the market. Over the years, it has defined its involvement in Nigeria by addressing three national challenges: nutritional security, sustainability, and good living for farmers. At the heart of the Company’s operations is the passion to make quality dairy nutrition affordable and accessible.
Vita foam
Vitafoam Nigeria Plc is Nigeria’s leading manufacturer of flexible, reconstituted, and rigid foam products. It has the largest foam manufacturing and distribution network which facilitates just-in-time delivery of finished products throughout the West African sub-region. It has continuously remained a benchmark for excellence y consistently churning out groundbreaking innovations to meet the comfort of its consumers. Vita remains an enduring and iconic brand that has stood the test of time. Incorporated on 4th August 1962 and listed on the floor of the Nigerian Stock Exchange in 1978, the Vitafoam brand for over four decades now has remained a household name both in Nigeria and across the continent.
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