Reliance Industries Ltd to invest US$1.4bn in India’s e-commerce sector

INDIA - Reliance Industries Limited (RIL), an energy and telecoms conglomerate, has unveiled plans of investing US1.4 billion into India’s e-commerce sector as part of its diversification strategy, reports ET Retail. The investment by RIL comes at a time when other e-commerce giants such as Amazon.com and Flipkart are experiencing tough operating environment due to…

Tanzanian government pays US$225.6m to cashew nut farmers

TANZANIA – The Tanzanian government has so far released US$225.6 million for the purchase of more than 134 000 tonnes of cashew nuts from farmers, reports Daily News. According to Omar Mgumba, Deputy Minister for Agriculture the government paid the money directly to farmers’ accounts through the Cereals and other Produce Board of Tanzania (CPB).…

Ghana seeks US$300m to prop up underperforming cocoa regulator

GHANA – Ghana has embarked on engaging lenders as it seeks to raise US$300 million in credit to support the country’s cocoa regulator, Cocoa Board (COCOBOD), which has been struggling with losses. Ghana Cocoa Board, is struggling to cover its expenses after keeping farmers’ minimum pay unchanged for three season straight, despite a decline in…

Nigeria sees competition and consumer protection bill signed into law

NIGERIA – Nigeria’s President, Muhammadu Buhari, has assented to the Federal Competition and Consumer Protection Act 2019 that seeks to ensure competitive trade in the country and ensure production of quality products reports Guardian. In a statement released by Senator Ita Enang, the new law repeals the Consumer Protection Council Act and sections 118-128 of…

Tanzania avocado producer Africado receives US$2.8m loan from Finnish fund

TANZANIA – Africado Limited, a Tanzanaian avocado producer, has secured US$2.8 million loan from Finnfund, a Finnish development finance company, to boost production. Africado Chief Executive Officer, James Parsons, said that the funding will enable the company to expand and develop its operations and diversify into other investments. “Finnfund’s funding of Africado has enabled Africado…

Zimbabwe’s dairy producer Dendairy set to expand production

ZIMBABWE -  Dendairy Limited, dairy producer in Zimbabwe is set to commission three new packaging lines as part of its ongoing expansion drive as it seeks to boost its production capacity, reports The Herald. The dairy producer aims at increasing its production capacity from the current 4.6 million litres to about 8 million litres per…

Tyson Foods to acquire BRF’s European and Thai operations for US$340m

USA – The American food corporation, Tyson Foods has announced that it has reached an agreement to acquire BRF SA’s operations in Thailand and Europe at a purchase price of US$340 million. The deal includes four processing facilities in Thailand, one processing facility in the Netherlands and one processing facility in the United Kingdom, previously…

Givaudan opens US$59.8m flavours manufacturing facility in India

INDIA – World flavors and fragrances company, Givaudan has inaugurated a new flavours manufacturing facility valued at US$59.8 million in Pune, India as it expands its capabilities in the country. The investment, which is also the company’s largest in India supports its growth ambitions in Asia Pacific, a high growth market where increasing consumer demand…

Campbell Soup sells personalized nutrition business to healthcare firm Viome

USA - Campbell Soup Company has agreed to sell its personalised nutrition business, Habit to Seattle based healthcare company, Viome in a transaction whose details were not disclosed. The two firms combine strengths in personalized food recommendations, becoming one of the leaders in nutrition plans in the market. Habit buy complements Viome’s portfolio which looks…

DMK Group opens new US$164.4m baby formula plant in Germany

GERMANY – DMK Group, Germany’s largest dairy cooperative has opened a state-of-the-art baby formula manufacturing facility in Strückhausen in Wesermarsch after investing approximately US$164.4 million (145 million euros). The investment highlights the dairy company’s commitment to adding value to its products range through science-based research and innovation. Once fully operational, the German site would have…