Business
Heineken to end UEFA Champions League sponsorship in 2027
Heineken will end its long-running sponsorship of the UEFA Champions League in August 2027, concluding a partnership that began in 1994 with the Amstel brand before transitioning to the flagship Heineken label in 2005.
The company confirmed the decision on 30 October following a strategic review of its global sponsorship portfolio, citing a renewed emphasis on investments tied closely to measurable value creation and return on spend.
The announcement follows news that AB InBev has entered exclusive negotiations with UEFA’s commercial arm, UC3, to become the global official beer partner across all men’s club competitions from 2027 to 2033.
The agreement, if finalised, would cover premier tournaments including the UEFA Champions League, Europa League, and Conference League.
Heineken stated that its exit from the competition aligns with an evolving global marketing strategy, focused on platforms that deliver high engagement and sustained brand impact.
The brewer confirmed continued investment in major global sports properties, including Formula 1, where it holds both title and sustainability partnerships, and Premier Padel, an international racket sport it joined as global beer partner earlier this month.
The company also extended its partnership with the UEFA Women’s Champions League earlier this month, securing rights for the 2025–2030 cycle.
Meanwhile, Heineken faces mounting pressure from investors to accelerate performance improvements. Industry analysts note that despite challenges faced across the global beer sector, the company has lagged behind market leader AB InBev in cost efficiency and volume momentum.
Investors argue that Heineken’s relatively larger brewery footprint and higher fixed costs in certain regions may require deeper operational changes, including potential facility rationalisation.
CEO Dolf van den Brink, who has led the €39 billion group since 2020, has outlined a dual-focus approach to sharpen efficiency and stabilise volume performance.
As part of its strategy presented earlier this year, Heineken committed to achieving up to €500m in annual gross cost savings through 2030, while concentrating growth initiatives on 17 priority markets and five core global brands.
The company aims to deliver mid-single-digit annual revenue growth with operating profit and earnings per share rising at a faster pace.
Van den Brink said he expects the beer market to return to approximately 1% volume growth annually once near-term macroeconomic pressures and geopolitical turbulence ease, with Heineken targeting performance ahead of the global category.
The Nigerian naira traded near recent levels against the US dollar on Thursday, with a modest gap between the official and parallel markets.
Official Market (CBN / NFEM)
- The official Nigerian Foreign Exchange Market (NFEM) rate closed around ₦1,334.72 per US dollar on October 21 (the most recent published CBN figure).
- Intraday trading on that day ranged roughly between ₦1,333 and ₦1,337.
- Interbank FX turnover rose sharply to about $127.6 million.
Parallel / Black Market (Aboki / Street Rate)
- Bureau de Change and parallel market dealers are quoting the dollar in the ₦1,370–₦1,390 range for selling (what you pay to buy dollars).
- Typical buy rates (what dealers pay for dollars) are around ₦1,355–₦1,375.
- The premium over the official rate remains relatively moderate by recent historical standards (roughly 3–4%).
Mid-Market Reference
International mid-market rates (used by many global converters) hover around ₦1,332–₦1,335 per dollar.
Quick Summary
| Market | Approx. Rate (₦ per $1) | Notes |
|---|---|---|
| Official (CBN/NFEM) | 1,335 | Latest published close |
| Parallel (Sell) | 1,370 – 1,390 | Street / BDC rate |
| Mid-market | 1,332 – 1,335 | Global reference |
Context: The naira has been relatively stable in recent sessions, supported by improved FX liquidity and external reserves. The gap between official and parallel rates remains narrower than the wide spreads seen in previous years, though demand for dollars for imports, travel, and remittances continues to influence the street rate.
Rates can shift during the day. Always confirm with a trusted bank, Bureau de Change, or licensed operator before transacting.
Business
RMRDC Taking 2027 Africa Raw Materials Summit To Kenya
Speaking with newsmen during the conclusion of the ARMS 2026, Ike-Muonso said Nigeria is the only county that has an organisation, government-owned organisation in the continent that is fully dedicated to adding value to raw materials.
• Photo: Hon.Minister, Federal Ministry of Innovation, Science and Technology (FMIST), Dr Kingsley Udeh, declaring the event open.
The third edition of the Africa Raw Materials Summit (ARMS) 2027, would be used to garner support for setting up a centralised continental database for raw processing and value addition that is accessible to investors and industrialists.
The Director-General of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike-Muonso, disclosed this during the ARMS 2026 Summit , held in Abuja, themed, ‘From African Feedstock To Factories.’
Building enthusiasm ahead of the next year’s event scheduled to hold in Kenya, East Africa, Ike-Muonso explained that the decision to take the summit to Kenya was reached following what he described as the East Africa country participants’ dominance in the first and second edition of the summit.
Ike-Muonso said Nigeria is the only county that has an organisation, government-owned organisation in the continent that is fully dedicated to adding value to raw materials.
Business
JPMorgan Eyeing Entry Into Nigeria’s Banking Industry
J.P. Morgan operates in more than 100 countries worldwide, providing financial services, investment banking, asset management, and commercial banking across major global markets in the Americas, Europe, the Middle East, Africa, and Asia-Pacific.
JPMorgan Chase & Co has deposited N50 billion with the Central Bank of Nigeria as part of efforts to secure a merchant banking licence and expand its operations in Nigeria .
J.P. Morgan operates in more than 100 countries worldwide, providing financial services, investment banking, asset management, and commercial banking across major global markets in the Americas, Europe, the Middle East, Africa, and Asia-Pacific
Bloomberg reported that the CBN deposit, valued at about $38m, meets a key requirement in the American lender’s application and signals its readiness to establish a licensed banking operation in Nigeria.
However, the payment does not guarantee approval, as the CBN is yet to make a final decision on the application.
People familiar with the process, said the deposit was one of the final regulatory requirements for the licence.
They added that the bank expects to obtain approval by the end of 2026 or in early 2027, subject to the regulator’s decision.
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