Kroner Starke launches new clean label egg replacer, REGG-EX

GERMANY - Kroner Starke, a German global company that produces high functional natural products in organic and conventional quality, has unveiled a new clean label replacer, REGG-EX amidst egg supply chain pressures on the food industry in the European market. REGG-EX offers food processors with technical and natural product that allows them to simplify bakery…

Bunge reports loss for the fourth quarter, plans to quit sugar trading business

US - Bunge has reported a loss of US$60 million in the fourth quarter in for its agribusiness, sugar and bioenergy and edible oils business in the year 2017. The world-leading agricultural merchant has posted weaker earnings as compared to last year when it recorded a net profit of US$271million. Bunge says that this came…

Pinkberry Frozen Yogurt opens stores in Nigeria

NIGERIA- Eat N’ Go Limited has announced the launch of Pinkberry, a famous frozen yogurt brand with origins in Los Angeles, California into the Nigeria market. Presently located at Admiralty way Lekki Phase 1 and Aromire Street, Ikeja, Lagos, the new brand promised to bring light, refreshing and craveable frozen yogurt experience to Nigeria. “We…

7-Up company receives regulatory approval to delist shares from NSE

NIGERIA - Seven-Up Bottling Company Plc has received approval from the Nigerian Stock Exchange (NSE) to delist its shares from the Exchange following the submission of an application it made to the Exchange, seeking to delist its shares and end its 32 years on the big board. The company was first listed on the Exchange in…

UACN to liquidate Warm Spring Waters Nigeria Limited

NIGERIA - United Africa Company Nigeria Plc (“UACN Plc”), a diversified conglomerate and one of Nigeria’s oldest companies announced that it will wind up the assets of one of its subsidiary businesses, Warm Spring Waters Nigeria Limited, makers of ‘Gossy’ Table Water based in Ikogosi, Ekiti State. The company cites weak operational performance due to…

Heineken records 5.37% rise in revenue in full 2017 year results

NETHERLANDS - Heineken has recorded 5.37% increase in revenue to US$27.4 billion and a 7.1% rise in profits to US$2.75 billion in its 2017 full year financial report. The company attributed its overall growth to various new ventures it undertook in key developing markets and numerous expansions in 2017. Heineken expanded its production capacity in…

Producers fault proposed palm oil importation under ETLS

NIGERIA - Stakeholders and members of the Plantation Owners Forum of Nigeria (POFON) have urged the Federal Government to dismiss the proposed application by OLAM to import some oil palm products under the West African Trade Liberalisation Scheme (ETLS). OLAM plans to import 95,000 metric tonnes (MT) of crude palm oil, 50,000 MT of Stearin…

US$4.9 million sweet potato plant spells promise for Meru farmers

KENYA - Sweet potato farmers in Meru are looking forward to a brighter future following the establishment of a plant to aid in value addition as a way to boost their earnings. Construction of a US$494,000 bakery and milling plant funded by the European Union (EU) through the National Drought Management Authority (NDMA) is already…