Super Group experiences good revenue growth in end-December 2017

SOUTH AFRICA - Super Group, a broad-based supply chain management business,  has said it had good revenue growth throughout the company in the six months to End-December 2017, pushing aside political uncertainty and adverse trading conditions in Africa, Europe and the UK. Australian economic conditions were stable, with good growth in certain industries, the supply…

Struggling plastics unit results in more than 5% HEPS decline at Transpaco

SOUTH AFRICA - Paper and plastic packaging group Transpaco has blamed a 5.4% decline in headline earnings per share (HEPS) on a tough economic environment, especially for its plastics division. HEPS slid to 168.2c in the six months to End-December, the company said in its interim results for the period released on Tuesday. Price deflation…

Midlands Horticultural Processing Factory in finds fresh life in vegetables

KENYA - A business partnership between a United States based export company and a US$11.8 million horticultural processing factory in Nyandarua has re-energized farmers in the area. Officially opened in 2004, Midlands Horticultural Processing Factory nearly collapsed due to years of mismanagement. Farmers lost confidence in the facility, opting to sell their potato to brokers.…

Unga buyout company Seaboard faces US probe

KENYA - American authorities are investigating Seaboard Corporation, the multinational company that is planning to buy out Unga Group’s minority shareholders, for alleged financial misconduct in multiple African countries including Kenya, reports indicate. Prosecutors in the United States are interrogating Seaboard’s Pan African operations for evidence of multiple crimes, including money laundering, bribery, and doing business…

Asella Malt Factory grabs one of the highest offers for privatisation

ETHIOPIA - Asella Malt Factory joins the list of public enterprises, grabbing the highest offer of US$48.8 million after the Ministry of Public Enterprises (MoPE) put it up for privatisation. The Factory joins the highest offer earner companies next to the US$944 million bid made by Japan Tobacco International for National Tobacco Enterprise (NTE) and…

Nigerian Breweries declares US$91.4 million dividend for 2017

NIGERIA - Nigerian Breweries Plc has announced its results for the 2017 operating year with a dividend recommendation of US$91.4 million for its shareholders. The recommendation, which amounts to a dividend of US$0.01 per share for the 2017 operating year, was part of the company’s filing to the Nigerian Stock Exchange (NSE). The recommended dividend…