SOUTH AFRICA – Africa’s leading spirits and wines operator Distell has completed the acquisition of an initial 26% of the ordinary shares of Best Global Brands Limited for US$54.6 million, a leading spirits producer in Angola and Nigeria.
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NIGERIA – Nigerian Breweries Plc, said on Friday that the benefits of the price increases it took in 2016 to mitigate the effects of skyrocketing inflation and foreign currency challenges continued into its first-half results.
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KENYA – The Kenya Horticultural Council (KHC) has been launched to support the industry’s growth by championing compliance with domestic and international quality standards and other market access requirements.
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SOUTH AFRICA – Despite South Africa’s bleak macro-economic outlook and political turmoil, there is at least one thing consumers can smile about – food is set to become cheaper thanks to a record-breaking maize harvest estimated for this year.
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NIGERIA – Seven-Up Bottling Company Plc (“SBC”), the bottler of PepsiCo brands of soft drinks in the country, on Friday reported a net loss of N2.5bn for the first quarter of its 2017/2018 financial year (Apr – Jun) despite recording nearly 20% sales growth in the period.
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ZAMBIA – The poultry industry has recorded a sharp drop in egg production of 26 percent while the broiler sub-sector fell by 4.8 percent during the economic trough experienced last year.
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ETHIOPIA – Shandong Dong Group, a Chinese donkey abattoir, shipped 25 tonnes of donkey meat to Vietnam last week, becoming the first of its kind for Ethiopia.
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KENYA – East African Breweries Limited (EABL) will borrow the Sh15 billion it needs to build its new brewery in Kisumu. The brewer said on Friday it will not be turning to its shareholders to fund the project through equity after it received an approval from the board to borrow.
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SOUTH AFRICA – South Africa has increased its forecast of this year’s record crop after farmers improved their yields. South Africa is Africa’s top maize producer.
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NIGERIA – Nestle Nigeria Plc, reported a nearly 3000% increase in profits for the first-half of 2017. Net profit rose to N16.5bn from N535m in 2016.
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