Global food firms commit to phase out industrial transfats by 2023

SWITZERLAND – Global food and beverage companies and members of the International Food and Beverage Alliance (IFBA) have pledged to phase out industrially produced trans-fat from the global food supply by 2023. The twelve food […]

EU fines AB InBev US$224m over higher beer prices in Belgium

EU – The European Union has fined AB InBev, the world’s largest brewer US$224 million (€200.4 million) for breaching EU antitrust rules by restricting cross-border beer sales. The maker of Budweiser and Corona has been […]

Swedish distillery partners Microsoft to brew first AI-generated whiskey

SWEDEN – Mackmyra Whisky, a Swedish single malt whisky distillery has in collaboration with Fourkind, a Finnish technology consultancy and Microsoft created the world’s first AI-developed whiskey. Mackmyra’s AI whiskey was developed through machine learning […]

Caltech Ventures to partner Ghanaian university to improve raw material sourcing

GHANA – Ghana’s Ho Technical University (HTU) has unveiled plans of partnering with Caltech Ventures Limited, a cassava processing firm in Ghana, to increase raw material supply to the firm. According to Mr. Phanuel Klogo, […]

Tata Group to consolidate consumer goods business in corporate structuring

INDIA – Tata Group is looking to consolidate its consumer products businesses, which will be housed under one roof in a strategy the company says will help simplify corporate structure and consolidate operations in similar […]

Uchumi Supermarkets clinches US$25m deal under its recovery plan

KENYA – Kenyan retailer, Uchumi Supermarkets, has reached into an agreement with its suppliers to forfeit US$25 million (Ksh2.5bn) in arrears as part of a proposed recovery plan for the retailer. The agreement will however, […]

AB InBev’s Asia business files for Hong Kong IPO valued at US$5b

ASIA – World’s largest brewer, AB InBev has filed for Hong Kong initial public offering (IPO) of its business in Asia Pacific, in a deal which could be worth US$5 billion. According to a Reuters […]

Astral Foods reports 52% decline in earnings as poultry division declines stumbles

SOUTH AFRICA – Astral Foods, a South African poultry producer, has reported a 52% decline headline earnings for the six months to end-March 30 2019 attributed to a significant decline performance of the poultry division. […]

Heritage Bank partners NIRSAL to boost agriculture financing in Nigeria

NIGERIA – The Heritage Bank Plc has partnered with the Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL) in a bid to improve the agriculture value chain though increasing financing to the sector. […]

Ghana’s leading cocoa buyer seeks US$100m to boost operations

GHANA – The Produce Buying Company (PBC) Limited, Ghana’s biggest cocoa buyer, seeks to raise US$100 million from international banks help the firm sustain its operation and settle its obligations. According to the firm’s deputy […]