EU injects US$4.1m into Kenya’s agriculture sector to boost exports

KENYA –  Kenya and the European Union (EU) have signed a deal for the implementation a US$4.1 million agricultural project that seeks to boost horticulture exports. The funding will be used for the implementation of […]

Ethiopia’s Awash Wine invests US$2m in expansion, debuts ‘Dankira’ wine

ETHIOPIA – Awash Wine S.C., an Ethiopian winery and pioneer in the industry, has launched a new wine cocktail in the market, Dankira, after investing US$2 million in expanding its production capacity. The company’s investment […]

French firm Tereos to shut sugar operations in Kenya and South Africa

KENYA – French sugar maker Tereos said Tereos Commodities will close its offices and halt sugar trading in Kenya and South Africa as part of a global review of its strategy. Tereos, which reported a […]

GMAZ, Goldstone International ink wheat supply and funding deal

ZIMBABWE – The Grain Millers Association of Zimbabwe (GMAZ) has secured a new continuous grain supply and funding deal with a South African based trade financier, Goldstone International. The initial deal is expected to see […]

Zambian Breweries half year profits surge 40% on increased sales

ZAMBIA – Zambian Breweries Plc, a subsidiary of AB InBev, has reported 40 percent growth in profits after tax to K193 million (US$14.72m) in the half-year period ending June 2019, driven by increased sales. The […]

Olam International expands its board with three new appointments

SINGAPORE – Olam International has announced the appointment of three new Non-executive Directors to the Board, as it continues to strengthen its “board’s overall skills set and stewardship effectiveness.” The company has appointed Joerg Wolle […]

Tyson Foods acquires stake in Brazilian poultry firm Grupo Vibra

BRAZIL – Tyson Food has reached an agreement to acquire a 40 percent stake in the foods division of Grupo Vibra, a Brazilian producer and exporter of poultry products, for an undisclosed sum. Once completed, […]

Novozymes makes organizational changes to deliver on growth strategy

DENMARK – The biological solutions company, Novozymes has announced some organizational changes that will include loss of upto 330 jobs worldwide, as it aims at delivering strong growth. Aligned with the strategy, announced in June […]

Flipkart to eliminate single-use plastic in packaging by 2021

INDIA – Flipkart, the wholesale arm of the Walmart-owned e-Commerce marketplace in India, has announced that it plans to eliminate single-use plastic in packaging by March 2021. The e-commerce firm said it will move towards […]

Guinness Nigeria reports 18% decline in full year profits to US$15.15m

NIGERIA – Guinness Nigeria, a subsidiary of Diageo Plc, reported 18 percent drop in net profits for full year profits for the financial year ending June 2019 to N5.5 billion (US$15.15 million). The company’s revenues […]