Astral Foods profit soars 78.7% on lower chicken feed costs in 2018

SOUTH AFRICA – South Africa’s leading integrated poultry producer Astral has reported 78.7% increase in group operating profit to US$134.99 million, resulting in an operating profit margin of 15%, ANA reports. According to the company, the year was supported by lower feed raw material costs, higher poultry selling prices as well as higher volumes across…

FRA releases 35,000 tons of maize to Copperbelt millers to mitigate shortage

ZAMBIA – The Food Reserve Agency (FRA) of Zambia has started releasing 35,000 metric tonnes of maize to selected millers in Copperbelt Province to address maize shortage in the region. According to Lusaka Times, Zambia’s President Lungu had directed FRA to release the maize to millers as an intervention on the maize and mealie meal shortages…

Rwanda’s Sorwathe company unveils new green tea factory worth US$1.12m

RWANDA – Sorwathe company, one of the oldest tea companies in Rwanda has invested over US$1.12 million in a new green tea factory in Kinihira, Rulindo district in the country’s Northern Province. The company will exclusively produce green tea to address the growing global demand, a report by Tea With Nipun reveals. According to Sorwathe…

Nigeria to become second largest rice importer behind China in 2019, USDA report

NIGERIA – Nigeria’s rice imports are set to hit 3.4 million metric tons high next year, a 13% increase that will see the country become the world’s second largest rice importer behind China, according to U.S. Department of Agriculture (USDA) report. Contrary to the federal government’s ambitious goal to put an end to rice importation,…

AB InBev and SA Breweries to launch alcohol-free grain snack to support farmers

SOUTH AFRICA - South African Breweries in partnership with the parent company AB InBev are piloting a savoury, alcohol-free grain snack, made from locally grown grain to support emerging farmers and community development initiatives, reports ANA. The snack, called Castle Lager Better Bites is packaged in 40g packs and available for purchase at five tavern…

Africa’s agribusiness to reach US$1 trillion by 2030, industry experts

AFRICA – Africa’s agribusiness is projected to reach US$1 trillion by 2030 and this can be achieved through significant investments to unlock the industry’s potential, according to industry experts who attended the Africa Investment Forum held in South Africa. It was noted that there was need to invest US$45 billion per year to harness the…

Ghana’s COCOBOD expects cocoa production to reach 1.5MMT in 5 years

GHANA - Ghana Cocoa Board (COCOBOD) has said that it expects cocoa production to increase to 1.3 – 1.5 million metric tons within the next three-to-five years as a result of several investments made in the sector, reports GNA. According to Mr Joseph Boahen Aidoo, CEO of Ghana Cocoa Board, this will help boost export…

Ingredion launches its first Idea Lab innovation centre in Kenya

KENYA – The global ingredients solution provider, Ingredion Incorporated has launched a new state-of-the-art Idea Lab innovation centre in Nairobi, Kenya, the company’s first in the region. According to Ingredion, the centre seeks to deliver the much needed technical support and culinary know-how to customers across Eastern Africa. It is set to benefit food and…

Bidco Land O’Lakes launches new ‘Kienyeji’ poultry diet in Kenya

KENYA – Bidco Land O’Lakes, a feed-focused joint venture between the American agricultural cooperative Land O'Lakes and Bidco Africa has launched new ‘Kienyeji’ four phase diet for the indigenous chicken. The Kienyeji Feed is expected to improve the rearing of the local poultry raised on either free range or in confinement. According to Bidco Land…

Twiga Foods raises US$10.3m financing from IFC and TLcom for expansion

KENYA – Twiga Foods, a Kenyan based online food-market platform has raised US$10.3 million financing co-led by World Bank’s private investment arm International Finance Corporation (IFC) and Pan-African venture capital firm, TLcom Capital. The capital is meant to help the company expand operations and offer new services to small holder farmers. Others that participated in…