Tanzania’s Reserve agency to receive US$6m to buy 28,000 tonnes of maize

TANZANIA - The National Food Reserve Agency (NFRA) will receive US$6.56 million from the government of Tanzania to be used for purchasing 28,000 tonnes of maize, only 2% of the surplus commodity to be purchased during the period. Since the government is only buying a small of the 970,000 tonnes it was supposed to during…

Astral’s full year’s earnings to surge 85% as poultry demand weakens

SOUTH AFRICA - Astral Foods’ Earnings per Share (EPS) for the 12 months ending 30 September 2018 is expected to increase by at least 85% from the previous year as poultry sales volumes and selling prices came under pressure towards the end of the year due to a weakening consumer demand. Improvement in performance was…

Coca-Cola to complete acquisition of Nigeria’s largest juice company, Chi Limited

NIGERIA - The world’s soft drinks giant, Coca-Cola is planning to acquire the remaining 60% stake in Nigeria’s leading juice and snacks producer, Chi Limited with the deal to close early next year. The Coca-Cola company entered an agreement to acquire an initial minority equity shareholding (40%) in the juice and snack producer Chi Ltd…

Grand Oak Limited’s CEO, Aare Fatai Odesile to step down end of September

NIGERIA - Grand Oak Limited (GOL), a leading marketer of alcoholic and non-alcoholic drinks in Nigeria has announced that the company chief executive, Aare Fatai Odesile will step down from his position effective end of September. A Beverage Industry News article reported that his resignation comes after 27 years of experience in the food and…

South Africa’s liqueur firm KWV unveils Wild Africa Cream Liqueur in Nigeria

NIGERIA - KWV Holdings, South African wines, spirits and liqueur producer has launched the Wild Africa Cream Liqueur in Nigeria to effectively compete in the wine market. ThisDay Nigeria reports that KWV’s investment seeks to satisfy the classy yearnings of consumers and celebrate Nigeria as it expands its reach to other countries on the continent.…

Nigerian Breweries to expand premium lager leadership while driving malt growth

NIGERIA - Nigerian Breweries (NB Plc) aims to expand its leadership in premium lager, build scale in mainstream segment and drive malt growth as new strategies to drive both volumes and sales. According to Beverage Industry News, the strategy helps NB Plc, the country’s largest brewer to counter stiff competition from rivals such as International…

Industry associations, Govt agencies confirm AFMASS Southern Africa partnership

ZAMBIA– The southern Africa edition of Africa’s food, beverage and milling industry conference and exhibition, AFMASS has received a number of confirmations from high profile individuals, industry associations and Government agencies , with expectations that it will change the face of the industry in the region. Planned to take place on October 3-5, 2018 at…

Tanzania suspends rice importation on increased local production

TANZANIA - The government of Tanzania has suspended rice importation into the country alleging that local production in the previous agricultural season increased significantly to cater for the local demand. The Citizen quotes the permanent secretary in the Ministry of Agriculture, Mr Mathew Mtigumwe saying that local production for this year doubled the demand to…

Drugmaker Aspen sells baby formula unit to French dairy group Lactalis for US$860m

SOUTH AFRICA - Aspen Pharmacare, the South African pharmaceuticals concern firm and Africa’s largest drug company has agreed to sell its infant formula business to French dairy group Lactalis International for US$864 million (12.9 billion Rand) as it seeks to cash on the division, reports Bloomberg. The acquisition will be funded by cash and according…

The State grain buyer seeks to raise US$75m to purchase maize from farmers

ZIMBABWE - Agricultural Marketing Authority (AMA), the government’s marketing agency plans to raise US$75 million for the purchase of maize from farmers in 2018 season, reports the Herald. The agro-bills which have a tenor of 360 days and interest rate of 7% per annum would be used for the purchases through the Grain Marketing Board…