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.

Designed to directly benefit more than 6,500 people with access to clean water and sanitation facilities, the project aims to ensure hygiene campaigns reach a further 100,000 residents.

The programme targets Ikorodu North and Ojodu Local Council Development Areas, where solar-powered water systems will be installed, sanitation improved, and hygiene education delivered through schools, community groups, and local advocates. 

It will also empower 60 women entrepreneurs to engage in WASH-related businesses and increase female participation in governance structures for water and sanitation.

Speaking on behalf of Governor Babajide Sanwo-Olu, Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem described the initiative as more than a business deal. 

She explained that the collaboration “is a powerful example of what true collaboration can achieve – global expertise aligning with local opportunity.” The governor noted that for Lagos, the project means jobs, stronger supply chains and greater opportunities for entrepreneurs to enter global markets. 

He reminded the audience that PepsiCo has long been a trusted partner, creating livelihoods and investing in communities, while DP World’s “world-class logistics strength” would ensure the impact touches lives, energises the state’s economy, and reinforces Lagos as Africa’s commercial hub.

Wale Edun, coordinating minister of the Economy and Minister of Finance, said the partnership represents both continuity and a commendable signal for Nigeria’s sustainability in manufacturing and logistics. 

He pointed out that by sourcing raw materials locally and reinforcing supply chains, the collaboration supports domestic industries and strengthens Nigeria’s long-term export potential. 

According to him, this initiative aligns with the country’s priorities of food security and efficient logistics, showing that global businesses can thrive when the right environment is created. “It creates jobs, empowers communities, and places greater purchasing power in the hands of our people,” Edun said.

The programme builds on DP World’s earlier WASH success in Bauchi State, where more than 7,000 people gained access to solar-powered water systems, while local artisans and hygiene promoters were trained and 40% female representation was secured in WASH committees.

For Mohammed Akoojee, CEO and MD of sub-Saharan Africa at DP World, this record illustrates what is possible when commercial capacity is channelled into social purpose. Nigeria, he stressed, is a key market for DP World, and the collaboration with PepsiCo and WaterAid is proof of how business can create long-term community impact. 

He explained that by investing in climate-resilient water systems, empowering women entrepreneurs, and reaching people with hygiene education, the partnership is delivering impact that “extends beyond the supply chain.”

Ahmed El-Sheikh, president for PepsiCo in the Middle East, North Africa, Pakistan, Ethiopia and Nigeria Foods, echoed that point. He said PepsiCo’s investment is not only about production but about building a supply network that is agile, inclusive and connected to community needs. 

While acknowledging the company’s commitment to strengthening Nigeria’s food system, he stressed that the benefits must extend beyond the marketplace to improve essentials such as safe water and provide opportunities for people to thrive.

Hatim Khan, senior director of International Programmes at the PepsiCo Foundation, added that investing in safe water is in fact an investment in the strength and resilience of entire communities. 

He spoke on the company’s collaboration with WaterAid, noting that lasting change happens when solutions are locally designed and locally led. With DP World now joining in Lagos, Khan said the project is not only expanding infrastructure but also building networks of people, skills, and resources that will secure long-term access.

WaterAid Nigeria’s Country Director, Evelyn Mere, reiterated that view, calling the initiative a demonstration of how technical expertise, private investment, and community leadership can combine to deliver infrastructure that safeguards health, promotes dignity, advances gender equality, and builds resilience against climate shocks.

This Lagos programme is an extension of the PepsiCo Foundation’s WASH initiative with WaterAid, launched in 2022. Over three years, that effort has rehabilitated six WASH facilities, brought clean water to 54,489 people, and reached more than 800,000 individuals through hygiene media campaigns.

Both PepsiCo and DP World view Nigeria as a strategic growth market. PepsiCo has strengthened local sourcing partnerships to support its expanding food production operations, while DP World employs over 6,000 people across healthcare, consumer goods, and logistics in Nigeria, enabling a further 3,500 jobs through its supply chain.

At the event, senior government officials, private-sector leaders and development partners came together to highlight the economic and social value of this collaboration. 

The occasion also marked the opening of a new PepsiCo manufacturing facility in Lagos, underlining the company’s long-term investment in the food sector and its focus on helping Nigeria’s supply chains serve both markets and communities.

However, one of the biggest obstacles to sustaining this growth lies in the cost of logistics, in some cases consuming up to 75% of a product’s value, far higher than the global average of 6–8%.

Against this backdrop, PepsiCo and DP World have expanded a $20 million partnership to bolster PepsiCo’s food business in Lagos, launching the iconic billion-dollar snack brand Cheetos into the Nigerian market. 

The investment, beyond just snacks, is being pitched as an initiative to strengthen local manufacturing, create jobs, and address structural weaknesses in supply chains that have long slowed Africa’s largest economy.

Linking the development directly to the Tinubu administration’s reforms, Edun stated that “The inauguration of this Cheetos plant reflects the bold reforms we are driving to stabilise our economy and unlock sustainable growth. With GDP projected to grow by 5%, we are seeing real results from our pillars of reform – diversification, industrialization, and job creation. 

“By sourcing locally and creating jobs, this investment brings to life President Tinubu’s vision of a stronger, more inclusive economy. Producing Cheetos not only for Nigeria but for West Africa highlights our nation’s role as a regional hub for manufacturing, supported by ongoing progress in technology and digitalisation.”

Today, August 20, 2025, PepsiCo cut the ribbon on its expanded snacks factory in Lagos State, marking the official entry of Cheetos into Nigeria. The brand, which generates more than $1 billion annually worldwide, is produced in two flavours, Cheese and Coconut, with Sour Cream set to launch next month.

PepsiCo says the arrival of Cheetos strengthens its snacks portfolio in West Africa, adding to Lay’s and Doritos already in the market. More importantly, it reiterates PepsiCo’s commitment to localisation, job creation, and resilient supply chains.

Local Sourcing at the Heart of Strategy

According to Felix Enwemadu, general manager, PepsiCo Foods Nigeria, nearly all inputs for Cheetos are sourced within Nigeria. “For Cheetos, we’re sourcing close to 100% of the raw materials from Nigeria. Corn grits come from a partnership with farmers under an outgrower scheme. Vegetable oil is supplied entirely by Presco Plc, quoted on the stock exchange. 

“Flavours are also sourced locally. For sausage rolls, our wheat flour is fully supplied by Flour Mills. The only import we have is Quaker Oats, because Nigeria’s climate doesn’t allow oat cultivation.”

This fully integrated sourcing programme strengthens PepsiCo’s supply chain while empowering thousands of local farmers.

Enwemadu stressed that compliance and quality remain top priorities: “Before we launch any product, NAFDAC and SON inspect our factories and conduct quality checks. We follow global standards, including environmental health and safety. Our relationship with regulators is second to none.”

Community Investments

PepsiCo’s investment goes beyond its factory walls, as the PepsiCo Foundation’s Safe Water Access programme with WaterAid Nigeria has reached over 54,000 people directly and educated more than 800,000 Nigerians on hygiene practices since 2022. 

In Lagos, women have been trained as Local Area Mechanics to operate and maintain water systems, ensuring sustainability.

“When we put money in, we’re not just donating; we’re creating self-sustaining systems,” Enwemadu said. “We design projects so communities can maintain them. We work with local leaders to ensure accountability, and we bring in partners like DP World to scale impact.”

DP World’s Logistics Perspective

For PepsiCo’s partner, DP World, which has partnered with PepsiCo across three Nigerian facilities, says logistics inefficiency is one of the greatest threats to Nigeria’s economic competitiveness.

Mohammed Akoojee, CEO & MD sub-Saharan Africa, DP World, was frank, “It’s very inefficient. Nigeria has one of the highest logistics costs in the world. In some cases, up to 75% of the value of a product is logistics. Compare that to the global average of 6–8%. That’s holding Africa back.”

He noted how Nigeria, despite having a population size comparable to Indonesia, handles only 1.6 million containers annually, five times fewer than Indonesia.

DP World is investing in port terminals, road infrastructure, warehouses, and AI-driven technology to reduce costs, “With the amount of data we have across warehouses, trucks, ports, and thousands of points of sale, we could be the Google of Africa in terms of predictive analysis for logistics. AI will allow us to price better, move faster, and make products more affordable.”

A Longstanding Partnership

The Cheetos factory is the third PepsiCo facility developed with DP World in Nigeria. Ajit Nair, MD – FMCL Nigeria, DP World, noted that “Nigeria is PepsiCo’s most integrated market with DP World, spanning the full value chain from manufacturing to distribution. This achievement reflects the strength of our partnership, built on trust, performance, and shared purpose.”

DP World also operates PepsiCo partnerships in Mozambique, Ghana, Ivory Coast, and Senegal, with Nigeria serving as the largest footprint.

Government Endorsement

Beyond Edun’s remarks, the Lagos State Government emphasised the bigger socio-economic gains.

Commissioner Folashade Bada Ambrose, representing Governor Babajide Sanwo-Olu, said: “The socio-economic impact of this collaboration will be transformative. We will see faster, more cost-effective movement of goods, greater inclusion of Nigerian businesses in global supply chains, and more jobs for Lagosians. This means more opportunities for local entrepreneurs, more exports, and improved food security as perishable goods reach consumers faster.”

She underlined that such partnerships align with Lagos’ vision to remain Nigeria’s commercial hub, where the government creates an enabling environment while businesses drive growth.

PepsiCo’s Nigerian Footprint

Ahmed El-Sheikh, President MENAPAK, PepsiCo, placed the project in context, “Since 1992, we have been proud to be part of Nigeria’s growth, building talent, investing in local capabilities, and working alongside communities. Our food operations employ over 1,000 Nigerians, anchored by two world-class facilities in Lagos producing Quaker Oats and sausage rolls. Today, with this new Cheetos factory, we add another chapter.”

El-Sheikh described Nigeria as standing at a “pivotal moment”.

“Its aspiration to become a trillion-dollar economy in the coming decade is not just hope, it’s achievable — but it requires ambition, trust, and deep collaboration in the public and private sectors.”

The Bigger Picture: Reform, Stability, and Exports

Edun’s keynote went further, pointing to reforms that have freed up 5% of GDP through subsidy removal, boosted foreign reserves to $42 billion, and set the stage for industrialisation. He argued that domestic production and local sourcing reduce FX demand, create jobs, and improve competitiveness.

“Over 90% of the raw materials for Cheetos are locally sourced. That means less dependence on foreign exchange and more jobs in Nigeria. With AfCFTA, Nigerian-made products can now compete across the continent of 1.4 billion people. This is the road to inclusive growth.”

The Cheetos launch may look like a simple product introduction, but its backers say it represents something bigger, which is a test of whether reforms, local production, and supply chain investments can ensure Nigeria’s long-promised economic transformation.

PepsiCo has revealed its intent with $20 million and near-total local sourcing. DP World has committed to reducing logistics expenses that eat up to 75% of product value, and the government is betting on reforms to sustain 5% growth and build a trillion-dollar economy.

The Cheetos plant now seeks to push Nigeria to finally move from being just a market to being a regional hub for manufacturing, trade, and inclusive growth.

The announcement followed a competitive pitch competition held in Nairobi, Kenya, post a four-day boot camp for the Pamoja entrepreneurs.

The winning enterprises, led by passionate young innovators, address critical food security challenges in their respective countries:

The catalytic grants, valued at $15,000 each, were awarded to:

• Abdul de Almeida, Co-Founder, Crimas, Orza and FAE; Mozambique
• Juliet Namwanje, Founder, Ziimba; Uganda
• Brendah Nantongo, Founder, Veathari Ventures Limited; Uganda
• Elizabeth Okullow, Founder, Agriboom; Kenya
• Dr. Akpem Terese Shadrach, Founder, Vet Konect; Nigeria
• Nathnael Tadesse, Founder & CEO, Senaryo Trading, PLC; Ethiopia

The Pamoja Founders Project provides comprehensive training, mentorship, and networking opportunities to equip young entrepreneurs with the skills and resources needed to scale their ventures.

The champions represent the diverse landscape of food security solutions across Kenya, Uganda, Ethiopia, Tanzania, Mozambique, and Nigeria.

The closing ceremony featured distinguished guests including representatives from IREX, the PepsiCo Foundation, and PepsiCo; Governor Sakaja Johnson, governor of Nairobi City County, Kenya; United States Embassy officials; and prominent figures from the business and social impact sectors. Their presence underscored the importance of multi-stakeholder collaboration in addressing food security challenges across West, East and Central Africa.

“We are here to celebrate and acknowledge the entrepreneurial spirits and journeys of the inaugural cohort of the Pamoja Founders Project,” said George Kogolla, IREX’s Country Director for Kenya and East Africa. “We also celebrate IREX and PepsiCo’s shared commitment to investing in promising young African leaders across the continent. As IREX marks 10 years of administering the U.S. Department of State’s Mandela Washington Fellowship, Pamoja exemplifies our continued support for alumni of such programs and their innovative solutions for Africa’s challenges.”

“‘Pamoja’ is a Swahili word that means ‘together.’ At the PepsiCo Foundation we believe no single entity can solve an issue alone – working together with our partners and the communities we serve is key to ensuring our solutions are locally tailored for lasting impact.” C.D. Glin, President of the PepsiCo Foundation & Global Head of Social Impact for PepsiCo, shared. “Pamoja Founders Project and our partnership with IREX has lifted up 12 African food and agricultural entrepreneurs through a rigorous training program, with six also receiving catalytic seed grants. I’m extremely proud of the role Pamoja Founders Project is playing in making the food system more inclusive, secure, and sustainable across Africa.”

“This exceptional cohort exceeded our expectations with their passion, thoughtfulness, and commitment to advancing food security across Africa,” said Roshan Paul, Director of Leadership at IREX. “Pamoja has affirmed that IREX’s investment in cultivating and supporting Africa’s future leaders is paying dividends.”

“We are committed to working with innovators and changemakers to catalyze and shape a more sustainable food system for Africa. Each of the Pamoja entrepreneurs’ ventures addressed critical challenges and we look forward to being an integral a part of their journey to further success.” said Wael Ismail, Vice President – Corporate Affairs in Africa, Middle East, and South Asia (AMESA), PepsiCo.

IREX will support the entire cohort for the next three months as they complete the program. After the project, the Pamoja Founders will join a vibrant, supportive pan-African network of IREX alumni.

The project also honoured and recognized the contributions and accomplishments of the other participants in the cohort:

• Benson Abila, Founder, M-Taka; Kenya
• Mafeng Dangyang, Co-Founder, Kayan Gona Agro Network; Nigeria
• Emmanuel Dusabimana, Founder, Agriboom; Uganda
• Nalugemwa Elizabeth, Founder, Seedloans and Kyaffe Farmers Coffee; Uganda
• Abdallah Mabrouk, Founder & Executive Director, Ibukia Shambani; Tanzania
• Babajide Oluwase, Co-Founder and CEO, Ecotutu; Nigeria

Following a rigorous 9-month training program, the top six most promising enterprises will be awarded a catalytic seed grant of USD $15,000 each, funded by the PepsiCo Foundation.

The Pamoja Founders Project provided a comprehensive support system for its 12 cohort members, equipping them to further develop innovative and disruptive solutions that address food security challenges in Africa.

Through mentorship, skill-building workshops, access to professional networks, and crucial funding opportunities, the program empowered these young entrepreneurs to scale their ventures. Over the past 9 months, the cohort has undergone personal and professional growth, equipped with essential tools to amplify their impact within their sectors and markets.

Pamoja Founders Project cohort members are leading new ventures working at the intersection of food security, sustainable supply chains, and resilient food systems in one of six countries across West, East and Central Africa.

The inaugural cohort members are:

• Benson Abila, Founder, M-Taka; Kenya
• Abdul de Almeida, Co-Founder, Crimas, Orza and FAE; Mozambique
• Mafeng Dangyang, Co-Founder, Kayan Gona Agro Network; Nigeria
• Emmanuel Dusabimana, Founder, Agriboom; Uganda
• Nalugemwa Elizabeth, Founder, Seedloans and Kyaffe Farmers Coffee; Uganda
• Abdallah Mabrouk, Founder & Executive Director, Ibukia Shambani; Tanzania
• Juliet Namwanje, Founder, Ziimba; Uganda
• Brendah Nantongo, Founder, Veathari Ventures Limited ; Uganda
• Elizabeth Okullow, Founder, Agriboom; Kenya
• Babajide Oluwase, Co-Founder and CEO, Ecotutu; Nigeria
• Akpem Terese Shadrach, Founder, Vet Konect; Nigeria
• Nathnael Tadesse, Founder & CEO, Senaryo Trading, PLC; Ethiopia

“The journey the Pamoja fellows have been on over the past nine months – both as individuals and as a cohort – has been truly remarkable,” Roshan Paul, IREX’s Leadership Practice Director, said. “Each has excelled with the challenging curriculum, and more importantly, accelerated their venture’s trajectory to impact.”

“The Pamoja Founders Project is giving rising food and agricultural entrepreneurs a unique opportunity to engage with industry experts, receive sector-specific coaching, access professional networks, and join a vibrant community of like-minded entrepreneurs,” C.D. Glin, President of the PepsiCo Foundation & Global Head of Social Impact for PepsiCo, shared. “What makes this program different from other accelerators is the backing of one of world’s leading food and beverage companies and a renowned global NGO committed to catalyzing sustained connections and shared learning experiences that will ultimately fuel pathways to prosperity for these leaders and their communities. The Pamoja Founders Project is an investment in a more food secure and resilient future for Africa.”

“Africa’s food security challenges demand innovation,” says Paul Andersen, CEO of PepsiCo West, East, and Central Africa (WECA). “The Pamoja Founders Project marks PepsiCo’s first program for young African agripreneurs, aligning with our PepsiCo Positive vision for a sustainable food system. By empowering these future leaders, we’re building a more resilient food future for Africa.”

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Tingg, Cellulant’s acclaimed payment platform has been recognized as the ‘Merchants Payment Company of the Year 2022’, award at the BAFI Awards.

The recognition was bestowed at the 10th BusinessDay Banks and other Financial Institutions (BAFI) awards event, which was held in November in Lagos, Nigeria.

The BAFI Awards is backed by BusinessDay’s Research and Intelligence Unit through its extensive vetting process which monitors, evaluates, and recognises the achievements of players in the financial services industry in several categories that cut across banking, insurance, fintech and other financial services.

Over the past year, Cellulant Nigeria has experienced outstanding adoption of its products and services. There are more than 400 businesses and outlets using Tingg By Cellulant’s solution across Nigeria. As more and more businesses assess their payment needs, the numbers are expected to increase in the upcoming years.

Commenting on the award, Ademola Okuleye, the Head of SME Sales at Cellulant Nigeria, said: “As an enabler of economic growth and prosperity, this award is due recognition of our industry leadership across Africa, and is a testament to the growth of, Tingg.  This is a direct reflection of the growth our solutions have enabled for our merchant partners through the seamless integration of our payment ecosystem. A growing number of merchants in Nigeria use our payment platform. Businesses we serve include Eat n Go; which is the parent company of Domino’s, Cold Stone, and Pinkberry, GIG Logistics, Chicken Republic, Perfect Trust Cosmetics, Simba Group, United Parcel Service (UPS), Magrellos and PepsiCo; among others. Our products distinguish themselves from our competitors because they suit the demands of retailers who want our off-the-shelf products and those who need us to customize them to meet their needs. ”

“We thank BusinessDay and the BAFI team for this recognition of our commitment to expanding the Fintech space with innovative payment solutions. This recognition is dedicated to all our partners – staff, vendors, merchants, and customers alike who have made our platform, the payment solution choice of Africa,” he concluded.

Cellulant offers a unique set of capabilities to serve as the one-stop payment platform for companies all over Nigeria.

Its Tingg payments platform is equipped with the tools and competencies to address the problems associated with the key use cases of collections and payouts.

In 2021, Cellulant processed approximately 214 million transactions totalling $12.3 billion across 35 African markets.