Ghana’s cocoa regulator secures US$300m facility to boost cocoa production

GHANA - The Ghana Cocoa Board (COCOCBOD), the cocoa regulator in the country has signed a new 3-year receivables-backed trade finance facility of US$300m that aims to boost Ghana’s cocoa production. According to a report by GhanaWeb, the facility will be used to refinance Cocoa Bills raised by Bank of Ghana on behalf of COCOBOD…

Coca-Cola unveils US$38m fund to tackle plastic pollution in Africa

AFRICA – The Coca-Cola Company has unveiled a US$38 million fund to tackle plastic pollution in Southern, East and Central Africa over the next three years. The initiative by the multinational beverage manufacturer is part of global efforts in managing and reducing waste under in the overall ambitions of achieving a world without waste. According…

Ghana’s seafood and fish products imports up US$ 311.4m on increasing demand

GHANA - Ghana’s fish and seafood imports in 2018 grew to about US$ 311.4 million on account of increasing demand and dwindling fish stocks. According to a recent report by the Global Agricultural Information Network (GAIN), of the United States Department of Agriculture, the country imported an estimated 370,000 MT in during the period. The…

Nestle Ghana records 12.8% growth during 2018 financial year

GHANA - Nestlé Ghana Limited recorded a 12.8% growth in its 2018 financial year across its business supported by strong performance of the company’s downstream distributors This is according to Ms Philomena Tan, Managing Director of Nestlé Ghana Limited, who was speaking during the company’s recently held distributors’ awards ceremony. She stated that the firm’s…

South Africa’s wine company unveils plans of investing in new bottling plant in Ghana

SOUTH AFRICA – La RicMal Wines, a wine producing company in South Africa has unveiled plans of investing in a new bottling plant in Ghana to tap into the growing demand of South African wine in the country. According to the Marketing manager of the Stellenbosch-based Western Cape wine company, Malcolm Green, the investment also seeks to…

EU Launches commercial mushroom production project in Ghana to boost sector

GHANA – The European Union (EU) has launched a one million Euro (US$ 1.14 million) commercial mushroom production project in Ghana that seeks to boost diversification in the agricultural sector. According to a report by Ghana News Agency the project will be implemented through a four year period running through 2019-2022 and also seeks to…

Nigerian Breweries in solar power deal with CrossBoundary Energy

NIGERIA - Nigerian Breweries Plc (NB), franchise bottler of Heinenek Lager, has entered into a solar energy supply deal with CrossBoundary Energy for the operation of a 650 kW solar plant at NB’s Ibadan Brewery. The green energy project is in line with the current global ambitions of exploring sustainable energy solutions and positions Nigerian…

Zimbabwe’s food processing start-up Amandla Brands to explore new markets

ZIMBABWE - Amandla Brands, a local food processing start-up, has unveiled plans of introducing new products range capitalising on convenience in its ambitions of exploring new markets. The company’s managing director, Sympathy Sibanda-Mazuruse, said that the Amandla will also focus on healthy product innovations as part of its expansion strategy, reports NewsDay. “Our trademark registration…

Nigeria’s annual palm oil imports down to US$500m, unveils self-sufficiency plans

NIGERIA – Nigeria's palm oil imports have declined about 302,000 metric tonnes worth US$500 million as the country embarks on efforts to become self-sufficient in palm oil through increasing local production. This according to Mr Godwin Emefiele of Central Bank of Nigeria (CBN) who was speaking during a meeting with stakeholders in the Palm Oil…

Grand Parade Investments reports growth in revenues amid divestment plans

SOUTH AFRICA – Grand Parade Investments (GPI), South Africa's franchise operator of Burger King posted 13% increase in total headline earnings from continuing operations to US$2.46 million in the in the six months to 31st December 2018. The group, which in February this year announced the closure of Dunkin’ Donuts and Baskin-Robbins operated outlets, also saw…