This was part of the submissions made by speakers at the recent annual Retail Media Day hosted by Glovo in Barcelona.

The event featured a wide-ranging discussion from industry experts on major industry trends and developments, including Glovo’s growth plans for the coming months.

According to a report from IAB Europe’s Retail & Commerce Media Committee, 2026 is expected to be a defining year for retail and commerce media across Europe, driven by increased investment, AI-enhanced personalization, and growing demand for clearer measurement standards.

Leading the discussion, Glovo co-founder, Sacha Michaud, explained that retail media is becoming an increasingly core pillar of the modern digital advertising ecosystem, with advertisers now seeking more accountable, commerce-led media strategies.

“People realize that they can order from local stores through Glovo, a snowball effect will happen: we will become top of mind,” he said.

In a joint presentation delivered by trio of Connie Kwok (VP of Q-commerce), Alex Menal (VP of Marketing), and Victor Roca, director of Ads Product and Retail Media, they discussed Glovo’s approach to strategic themes such as product, customer understanding, and Q-commerce leadership while presenting the new value proposition for brands to advertise through four new in-app advertising opportunities: segmentation, direct links, video stories, and product cross-sell.

One of the presenters, Kwok, who leads Q-commerce for one of the leading global companies driving industry innovation, defined Glovo’s value proposition as providing ultimate convenience and choice, stating that “having the mall in your pocket” is the final goal.

Speaking during the session, Menal highlighted how Glovo has successfully marketed itself to customers worldwide, positioning itself as a global leader in Q-Commerce.

He shared a very ambitious vision of how Q-Commerce could equal the value that Food currently provides to Glovo’s business, based on its growing run rate, new feature opportunities, and AI applications.

Also speaking, Andrea Di Fonzo, founder of Adcelerator and the former CEO of Publicis Group, said experience was needed in scaling complex service platforms and driving sustained growth for companies in the retail sector.

Fonzo stated that brands have to ensure their advertising is placed in places they don’t know, because if they only communicate in the stages they know, they will miss out on a whole new set of audiences looking elsewhere.

He further noted that in this era of messy communications, platforms like Glovo offer a massive opportunity for brands, as they can rent a virtual space with millions of customers looking in the right place, at exactly the right time: when customers are ready to purchase.

In the closing session, Roca and Anaut underscored the significant role Glovo played in helping brands like Heineken, PepsiCo, and Revolut grow exponentially through tailored, smart in-app and off-app media placements.

In recent years, Glovo has partnered with retail industry giants such as Coca-Cola, Nestlé, PepsiCo, Red Bull, Unilever, and more, helping them maximize their retail media strategies.

This was revealed in a post on the social media handle of the US Mission in Nigeria, describing the investment as part of the US–Nigeria trade relations.

The bilateral partnership has been a key driver of economic growth and job creation.

Over the last decade, Coca-Cola has invested $1.5 billion in Nigeria and maintained a presence in the country for more than 75 years.

“With plans for an additional $1 billion investment in the pipeline, the American multinational is set to boost production, strengthen supply chains, and enhance workforce training across the nation.”

Coca-Cola began operations in Nigeria in 1951 and has since become a leading player in the local beverage industry.

Its operations are primarily managed through the Coca-Cola System, which includes Coca-Cola Nigeria Limited and its authorised bottler, the Nigerian Bottling Company (NBC).

The company produces and distributes a wide range of beverages, serving millions of Nigerians daily. Its portfolio includes Coke, Fanta, Sprite, Schweppes, Eva Water, Monster, and Predator Energy, among others.

The company insists that the penalty, related to alleged misleading marketing and labelling of its Coca-Cola Original Taste and Less Sugar variants, is unjustified and legally inadequate.

The FCCPC had accused Coca-Cola and its sister company, the Nigerian Bottling Company (NBC), of deceiving consumers by presenting the two drink variants as identical in formulation. 

The commission stated that despite regulatory intervention, the companies failed to amend their marketing practices, prompting the fine under Section 116(3) of the Federal Competition and Consumer Protection Act (FCCPA).

Coca-Cola was ordered to remit the penalty by 6 September 2024, a directive the company has contested.

In a notice of appeal filed on 5 September 2024, Coca-Cola challenged the penalty before the Competition and Consumer Protection Tribunal, noting multiple grounds for its opposition.

Grounds for Appeal

The company’s legal counsel, led by Professor Gbolahan Elias SAN, listed 15 key reasons the tribunal should quash the FCCPC’s orders. These include:

1. Fair Hearing Violation: Coca-Cola argued that the FCCPC acted as complainant, investigator, prosecutor, and judge, thereby breaching its right to a fair hearing.
2. Lack of Jurisdiction: The company claimed the FCCPC lacked the authority to issue and enforce the orders, which it argued should fall under the tribunal’s purview.
3. NAFDAC Approval: Coca-Cola emphasised that its product labelling adhered to the standards approved by the National Agency for Food and Drug Administration and Control (NAFDAC).
4. Differentiation Efforts: The company stated it had taken steps to distinguish the Original Taste variant from the Less Sugar variant, even after the FCCPC brought up the issue.
5. No False Representation: Coca-Cola denied making any misleading or deceptive assertions about the taste, content, or formulation of its products.
6. Absence of Unfair Tactics: It argued that it did not use coercion, pressure, or unfair methods in marketing its products.
7. No Consumer Complaints: Coca-Cola stated that it had not been shown any consumer complaints about the quality or branding of its products.
8. Pricing Allegations Unfounded: The company rejected claims that its pricing model indicated anti-competitive behaviour, noting the FCCPC’s own earlier findings that pricing patterns lacked sufficient evidence of abuse.
9. Burden of Written Assurances: Coca-Cola criticised the FCCPC’s demand for “satisfactory written assurances” to prevent further violations as vague and burdensome.
10. Abuse of Power: The company accused the FCCPC of overstepping its legal mandate by demanding audited financial statements without legal justification.
11. Advertorial Compliance: Coca-Cola claimed it had voluntarily undertaken additional measures to differentiate the variants as a cooperative corporate entity.
12. Process Errors: It alleged that the FCCPC’s legal officer, who issued the orders, was not part of the original investigation, violating procedural fairness.
13. No Legal Violation: Coca-Cola argued that the alleged breaches mentioned by the FCCPC did not continue after corrective measures were implemented.
14. Penalty Excessive: The company described the N186m fine as “outrageous and unjustifiable.”
15. Pending Appeal Protections: Coca-Cola maintained that sanctions cannot be enforced until the tribunal resolves the issues raised in the appeal.

Tribunal’s Next Steps

In response to the appeal, the FCCPC has agreed to halt any enforcement actions until the case is decided. The tribunal has scheduled a hearing for 4 February 2025.

The company has debunked accusations of deceiving consumers and reiterated its focus on compliance with national regulations and transparency in product labelling.

In a statement released over the weekend, Coca-Cola Nigeria wrote, “Coca-Cola Nigeria provides clear, accessible nutrition information on our packaging in line with national regulatory requirements and is committed to transparency for consumers.” 

This response comes after the FCCPC announced potential fines for alleged breaches of Consumer Rights Law by Coca-Cola Nigeria and the Nigerian Bottling Company Limited (NBC).

The FCCPC stated that both companies violated the Federal Competition and Consumer Protection Act (FCCPA) 2018 by not adequately distinguishing between product variants such as Coca-Cola Original Taste and Coca-Cola Original Taste Less Sugar. 

The commission’s investigation, which included a review of internal documents and production logs from June 2019 to December 2020, aimed to determine the validity of these claims.

According to the FCCPC, Coca-Cola and NBC continued to use indistinguishable packaging even after regulatory interventions, concluding intentional misrepresentation. 

The FCCPC pointed out similar issues with NBC’s Limca Lime-Lemon flavoured drink, where identical packaging was used for Zero Sugar and the 50:50 variant, leading to consumer confusion.

In its statement, Coca-Cola Nigeria noted its priority to consumer interests and collaborative approach with government authorities. “Our priority is safeguarding consumer interests, and we will continue to work constructively with the government on this matter. We strongly believe that the Coca-Cola System in Nigeria has complied with all regulations and look forward to the opportunity to bring this topic to closure,” the company asserted.

Coca-Cola affirms a compliant and transparent entity in the Nigerian market. The company has reassured the public, aiming to maintain consumer trust while addressing the regulatory challenges from FCCPC’s ongoing investigation.

The investigation focuses on allegations of misleading product labelling and a lack of transparency regarding changes in ingredients.

According to the FCCPC’s statement, issues arose in June 2019 when the commission became aware that Coca-Cola was changing its Coke brand from a sugar-based formula to one containing non-nutritive sweeteners. 

This change, the FCCPC alleges, was not adequately communicated to consumers. “The Commission was convinced based on the evidence, that Coca-Cola and NBC on multiple occasions, and counts violated, and remained in violation of the FCCPA, particularly with respect to transparency, and clear disclosure obligations to their product patrons,” the statement reads.

Specifically, the FCCPC accuses Coca-Cola of misleading consumers about its “Original Taste, Less Sugar” variant, alleging that the company portrayed this product as identical to the classic Coca-Cola, despite a difference in formulation. Similar issues were raised regarding undisclosed changes in Fanta and Sprite.

The FCCPC claims it engaged with Coca-Cola and NBC in an attempt to reach a resolution, which included seeking internal documents and production logs to verify the allegations. 

While the commission initially accommodated attempts by the companies to implement clearer labelling and product differentiation, Coca-Cola and NBC ultimately abandoned these exertions, leading to a final order issued on July 29, 2024.

The final order outlines findings that include misleading trade descriptions and unfair marketing tactics. The Commission states that Coca-Cola’s packaging fails to adequately differentiate between “Original Taste” and “Less Sugar” versions, violating several sections of the Federal Competition and Consumer Protection Act. 

The FCCPC claims that the Nigerian Bottling Company engaged in deceptive trade practices by using identical packaging for both its Zero Sugar and 50:50 sugar/sweetener Limca drink, misleading consumers.

The FCCPC has reserved the right to impose penalties on both Coca-Cola and NBC for these violations and has not ruled out investigating possible abuse of market dominance by the companies. NBC was also found to have used identical packaging for different variants of Limca Lime-Lemon, further confusing consumers.

The FCCPC is considering additional regulatory actions, including assessing penalties for potential abuse of market authority. The Commission emphasises its focus on ensuring that companies provide clear and honest product information to consumers.

The event took place at the NBC Ikeja Plant, bringing together key executives, logistics and material handling equipment (MHE) partners, as well as other critical stakeholders.

Building upon its “zero is possible” agenda, which envisions a workplace and environment free from accidents, the program was designed as a platform for discussing best practices, sharing insights, and reinforcing the importance of safety in all its operations.

• A notable highlight during the event was the introduction of a recognition program for partners, wherein those scoring 75% or higher out of a possible 100% were eligible for a prestigious award.

In his opening address, Goran Sladic, managing director of Nigerian Bottling Company underscored the importance of safety with the company’s logistics and supply chain operations.

He commented:

“This unique program is designed to support and encourage participation from our valued partners in our safety metrics and vision across all our sites. At NBC, we prioritise safety and take practical steps to demonstrate this commitment. It is my vision that we will all go beyond what is being discussed here to inculcate the drive to ensure that business is conducted with the highest safety standards.”

A total of 17 Material Handling Equipment (MHE) partners attended the event, including AG Leventis, Cobil, AY Hussaini, Bawal, Yau Adamu, Medessey, GTJ, Futuris, Stratagem, Hamidu Bako, Basul Maiyaki, Aminbaks, Maotech, Bah Engineering, Bisedge, Pebnic, and more.

Ismaila Yusuf, country logistics director at Nigerian Bottling Company, articulated the programs profound impact, affirming, “At NBC, we see our partners as integral to our shared success, not just as service providers but as sustainable businesses poised to thrive for generations to come”.

“Our commitment to safety, sustainability, and health sets us apart as we prioritise the well-being of stakeholders through unique safety initiatives that ensure our partners, and their employees are always protected. This partnership program demonstrates our dedication to enhancing operations and fostering a culture of safety excellence,” he added.

The event featured a series of dynamic sessions, including workshops and compelling case studies spotlighting successful safety initiatives.

Participants were also given the opportunity to engage with the company, to discuss NBC’s safety guidelines, and network with peers. The program concluded with partners pledging their full support for the company’s vision.

As a responsible business, safety remains a core value across NBC’s operations. The company is committed to zero tolerance for failure to meet standards and has deployed maturity continuum measurement metrics.

This approach extends to the company’s key partners and suppliers, as they are required to obtain certification to the standards of quality, environment, and health & safety.

Nigerian Bottling Company continues to invest in programs and initiatives that enhance a safe and secure working environment for all people across its value chain.

The partnership will provide a steady supply of Coca-Cola’s beverage portfolio to consumers who prefer to shop online through the Jumia platform and ensure they receive their orders in the shortest time possible.

“We are happy to partner with Coca-Cola to meet consumer demand for everyday products at the fastest delivery time and at affordable prices. Coming after the launch of our Quick Commerce stores, we are happy to let our consumers know that they can expect their delivery of beverages in under 20 minutes, offering convenience at its best,” said Romain Christodoulou, Jumia’s Chief Commercial Officer.

The move will increase the assortment available on Jumia and support product delivery in the fastest time possible.

Consumers also will enjoy promotions such as ‘buy-one-get-one free’ and discounts of up to 20% on Coca-Cola orders. The initial rollout will be in Nigeria, Egypt, Kenya, Morocco, Côte d’Ivoire, and Uganda.

“We are pleased to partner with Jumia as we strive to meet the needs of consumers across Africa by making our beverages available for delivery to their homes when they need them. Through this, we will be offering an alternative for easy and fast access to Coca-Cola brands across several beverage categories to hydrate and refresh,” said Minas Vourodimos, Vice President for Customer & Commercial Leadership- Coca-Cola Africa Operating Unit.

There has been a notable increase in purchases of everyday products on Jumia since the COVID-19 outbreak as more consumers than ever before continue to embrace online shopping.

Groceries/everyday essentials is a fast-growing category on Jumia, according to the Africa e-commerce report entitled Jumia Africa e-Commerce Index 2021.

Some brands are already there today, such as Nike and Coca-Cola, who are using it to drive brand awareness and the purchase of physical products.

With so much buzz around the Metaverse, it’s easy to see why more and more companies will start to do business there. But are they thinking about the risks? We will certainly need a different approach to security in a virtual world compared to the physical, but what will that entail? Let’s take a look at what the risks are and how to start getting prepared (because you do need to start now). 

The biggest hurdle to the Metaverse being a secure environment is in its foundations. The Metaverse is built on blockchain technology and we have already seen serious security gaps in NFT marketplaces and blockchain platforms such as OpenSea, Rarible and Everscale.

Due to the sheer amount of malicious activity that we already see exploiting services based on the blockchain, we believe it won’t be long before we start to see initial attacks in the Metaverse too.

It will likely be based on authorization, and user accounts will get hijacked, so we expect that identity and authentication will sit at the heart of everything we want to do.

It is tricky though, as people might want to have multiple identities within the Metaverse, perhaps one for transacting work conversations and another for personal shopping and entertainment. 

This adds another layer of complexity because there’s then no single identity that says it’s definitely you. The answer could be in chained identity so, will blockchain then help us understand where we’re transacting and who with?

This is a major challenge. And since blockchain technologies are decentralized and unregulated, this makes things like policing the theft of virtual assets or preventing money laundering, very difficult indeed.

Redefining reality 

Another key security challenge is in the safe spaces needed to conduct business. Imagine you’re on a Zoom or Teams call. It’s a private meeting space, right? But what will that be like in the Metaverse? How do we know that a chair someone is sitting on isn’t actually an avatar and we have an impostor in our midst?

You may think that can’t possibly happen, but it’s a virtual world. Of course it can. We need to be able to discern between what’s real and what’s fake, and having a safe space to meet and transact will be crucial.

When the Internet first came out, threat actors exploited the average human’s unfamiliarity with the tech by creating malicious sites that impersonated banks to obtain financial details. Phishing scams like this still occur, albeit we now see more sophisticated forms of social engineering.

The Metaverse is like a whole new Internet, and you can guarantee that people’s unfamiliarity with it, both businesses and consumers, will be exploited.

Interestingly, every transaction that happens on the blockchain is fully traceable, so this will become far more important, especially when it comes to having an audit trail of what has been discussed and any decisions made in a business context. But that leaves a question over how that information is taken from the virtual world to the physical. 

Are contracts going to be legally binding in the Metaverse? Or will they need to be brought into the physical world to be signed and then pushed back in? How will that be done securely? 

Researchers have discovered security gaps within blockchain and crypto projects which are part of the Metaverse.

The vulnerabilities that been exploited by cyber crime are focused on vulnerabilities with smart contracts that allows hackers to exploit and drain crypto platforms and around application vulnerabilities inside blockchain platforms that allows hackers to attack through the platforms and hijack users’ wallets balance.

There is a danger that we rush headlong into the Metaverse without considering these types of implications. 

A lot of the concerns around security in the Metaverse are exacerbated by the huge skills shortage in the cybersecurity sector. 

According to the 2021 (ISC)² Cybersecurity Workforce Study, we are lacking almost 3 million cybersecurity professionals and the current global cyber workforce needs to grow by 65% to effectively defend organizations’ critical assets. That percentage is likely to be a lot higher if we also consider the new virtual world.

Is it worth it? 

Other cybersecurity risks within the Metaverse abounds such as cyberattacks via the use of vulnerable AR/VR devices, as an entryway for evolving malwares and data breaches.

These devices inherently collect large amounts of user data and information such as biometrics, making it attractive to hackers. Concerns around data privacy are also a growing voice amongst Metaverse sceptics, with additional data being collected through avenues like Second Life, potentially violating user privacy.

You might be reading this thinking well, why bother if there are so many risks involved? But it is absolutely worth putting the time in now, to get ready for moving across to the Metaverse.

Unfortunately, any company (no matter the size) that doesn’t, may find itself in a place where it’s playing catch up and potentially losing out on business or engaging in processes that put the business at risk. You can transition slowly, just like many have done with cloud migration. 

Organizations will need to be much more reliant on their partners around the world to help mitigate risk, as this is very much a global phenomenon. But there will always be some risk and for those that take them and get it right, there will be huge rewards.

At the end of the day though, businesses won’t be able to do it themselves, it will take a great deal of partnering with organizations that work within that space.

The Metaverse will hit everyone, and there’s no denying that mistakes will be made, similar to those that were made in the early days of the Internet.

Top Metaverse security considerations right now:

1. It’s coming. You can’t put your head in the sand and pretend that it isn’t. Business leaders and security professionals need to talk about it and understand what it might mean for them. Understand the landscape by looking at what competitors are doing in that space.
2. Have a look at how you are currently running services now in the physical world and understand if these services map in any way to the Metaverse. You may find that some of them don’t and aren’t even secure in this world, such as mobile devices, tablets, cloud and multi-cloud.

• Understand how to get your identification and authentication done correctly. The answer to that isn’t just having a password or two factor authentication. Companies need to really start upping their game around these two issues. People tend to do things without thinking about security, whereas they should be thinking of security first.

Zoran Bogdanovic, CEO, Coca-Cola made this known while donating €1 million funds at a stakeholder reception during his visit to Lagos, Nigeria.

According to Bogdanovic, the €1 million funds would be deployed to support four key initiatives including the Federal Government’s journey towards achieving Open Defecation Free (ODF) by 2025; upskilling underserved youths and women in high-demand skills; and community recycling initiatives.

He said the donation underlines the company’s commitment to improving the lives of members of its host communities.

“Through this support, among other ongoing sustainability initiatives, we hope to help drive growth for the Nigerian economy and enable better living conditions for local communities.

The donation will be directed towards empowering youth and women and the provision of water and sanitary facilities.”

According to Bogdanovic, partners

have been selected based on a rigorous due diligence process and their track record, as well as their ability to deliver value and make an impact in the communities.

He added that the remaining three partners will be announced soon.

Aside from lifting the living standards of communities in Nigeria, through locally relevant initiatives, Coca-Cola has provided over 58,000 jobs annually in the value chain in the country.

He said the company has scaled its gender diversity and inclusion targets, youth and women empowerment, water stewardship, and its broader agenda for a World Without Waste.

On the company’s legacy in Nigeria, Bogdanovic said: “Our roots are in Nigeria and its spirit still runs right through our business today – that’s why we have been a proud contributor to the growth of the Nigerian Economy throughout our history.

Against a backdrop of internal focus as a consequence of an urgent rebuilding of economies devastated by the Covid-19 pandemic and the acceleration of AfCFTA’s goal of driving greater intra-African trade, after a 5-year decline.

African brands have surged 4% to 17% from an all-time low of 13% in 2020 and 2021 in the 2022 Brand Africa 100 | Africa’s Best Brands survey and ranking of the best brand in Africa.

Nigerian brands, Dangote (#22), Glo (#32), Jumia (#42), and Nasco (#75) are among the 17 African brands that have heralded a 4% surge by African brands to 17% share of the Top 100 brands in Africa.

Overall, South Africa’s MTN, has returned to the Top 10 as the highest-ranking African brand and traded places with Dangote as the #1 African brand recalled when prompted to consolidate its status as the #1 African brand.

Dangote, the pre-eminent African brand founded in 1981 by Nigerian Aliko Dangote, emerged as the #1 brand that symbolizes African pride in a question where Brand Africa sought to establish which brand in Africa is a flag carrier and embodiment of rising optimism and pride in Africa.

South Africa, led by MTN, leads the African list, with Nigeria, led by Dangote, the overall #1 brand, at 28%, and Kenya with flag carrier, Kenya Airways, at 8% and Ethiopia, with its flag carrier brand, Ethiopian Airline at 4%.

Non-African brands, led by overall pace-setter Nike for the 5^th consecutive year, continue to dominate with a share of 83% of the most admired brands in Africa. Coca-Cola, which has been in the Top 5 for 10 consecutive years, is the #1 overall most admired brand in Nigeria.

In a separate list of the Top 25 most admired financial services brands, African brands, led by Nigeria’s GT Bank for the third consecutive year, dominate the rankings with 68% of the share to 32% for non-African brands.

DStv, has consolidated its position as the #1 African media brand for the second year running, while Channels TV led as the #1 Nigerian media brand, in a category that is fast going digital and mobile.

Recognising that while the rebound in African brands is notable, the results will not be sustainable without committed and inspirational leadership, in 2022, Brand Africa recognized those leaders who are the catalyst for growth for Made in Africa brands both in corporate and in those who have championed and supported the development of great local brands in supporting industries.

GT Bank’s Group CEO, Segun Agbaje and Nigerian doyenne of marketing, founder and chairman of Troyka Group were awarded the inaugural Africa Brand Leadership Excellence awards for inspiring brand-led excellence that drives the growth of made in Africa brands.

“As we emerge out of the pandemic and Africa seeks to assert itself, the results are very inspiring and bode well of an African renaissance led by competitive world-class African brands,” says Thebe Ikalafeng, Founder and Chairman of Brand Africa and Brand Leadership.

“With the increased number of countries and greater sample size this year, more than ever, and especially so during the pandemic, mobile proved to be the effective tool for us to reach and access respondents across the continent,” said Bernard Okasi, Director of Research, GeoPoll, which has been the lead data collection partner since 2015.

Karin Du Chenne, Chief Growth Officer Africa Middle East for Kantar, which has been the insight lead for Brand Africa since its inception in 2010 says, “despite volumes of brands analyzed as a result of increased sample size in terms of respondents and countries, the survey continues to yield a very consistent picture of brands and trends that are transforming the continent.”

Now in its 12^th year, every year on or around Africa Day, 25 May, Brand Africa releases the results of the survey on the most admired brands in Africa based on a survey across 29 countries that represent as much as 85% of the continent’s GDP and population. 

The 2022 survey was conducted between March and April 2022 and yielded over 80,000 brand mentions and over 3,500 unique brands.

The Brand Africa 100 results will be published in the June issue of African Business magazine which on sale globally in June 2022 and will be available online to subscribers on www.africanbusinessmagazine.com.

The 2022 Brand Africa 100: Africa’s Best Brands were organised by Brand Africa partners in Nigeria, AT3 Resources and Open Squares Africa, and supported by the Central Bank of Nigeria, South African Tourism, NQR, Africa Media Agency and BCW Africa.