Seed Co Zimbabwe invests in improving farmer soyabean yields

ZIMBABWE - Seed Co Zimbabwe has unveiled the Eleven Tonne Plus Club Promotion, a programme targeting commercial farmers for soybean, maize and other seeds in a bid to boost food security. The programme is set to benefit farmers with at least 10 hectares of the firm’s seed varieties grown during the 2017/18 season. Along with…

PepsiCo unveils second year of its brand incubator programme

USA - PepsiCo has announced the second year of its Nutrition Greenhouse incubator programme, an initiative aimed at enhancing food innovation and nurturing both big and small entrepreneurs in the nutrition, health and wellness sectors. Calling for applications, PepsiCo said the programme will identify up to ten emerging brands in the nutrition space with products…

Europe commits to collect 90% of all PET bottles by 2025

EUROPE - Europe’s bottled water industry has committed to major plastic goals to collect 90% of all PET (polyethylene terephthalate) bottles by 2025 as an average across the European Union, the efforts aimed at reducing plastic waste into landfill and oceans. The goal was revised from the previous 60% target and will ensure discarded plastic…

Bunge files to list Brazilian sugar and ethanol business

USA - The global agribusiness and food company has filed a registration for a potential public offering of its sugar and ethanol business, Bunge Açúcar & Bionergia with the Brazilian Securities Commission. With the listing which is subject to market conditions and valuations, Bunge plans to operate the business as a stand-alone entity after obtaining…

Walmart’s revenue beat forecasts reaping big on online sales

USA - The American retail giant, Walmart’s revenue rose almost 2% higher than the forecasts to US$122.69 billion boosted by US online sales which grew 33% in the quarterly results. Earnings were up to US$1.14 cents per share as opposed to US$1.12 per share forecast by Thomson Reuters. Walmart e-commerce push reaped well on high…

Kenyan mango juice processor receives US$1.09m in funding from EU

KENYA - The European Union has extended US$1.09 million funding to Makueni County for a mango juice processor, Kalamba Fruit Processing plant, following an agreement between the Kenyan government and the EU. According to Business Daily, this agreement involves funding economic projects across 15 counties under the Instrument for Devolution Advice and Support (IDEAS) programme.…

CDC and Standard Chartered Bank announce investments in Zimbabwe’s agric business

ZIMBABWE - CDC Group plc (CDC), the UK’s development finance institution, and Standard Chartered Bank have announced an investment facility that will lend up to US$100 million to growing businesses in Zimbabwe. According to CDC, this risk-sharing agreement provides much needed foreign currency capital for local businesses, allowing them to grow, create jobs and improve…

Morocco to receive US$236m from AfDB to reinforce agricultural value chains

MOROCCO - The Board of Directors of the African Development Bank, Côte d’Ivoire’s multilateral development finance institution has approved US$236 million loan for Agricultural development in Morocco. The funding will finance the Program for Supporting the Inclusive and Sustainable Development of Agricultural Value Chains (PADIDFA) while reinforcing sustainable job creation. The program aims to support…

Coca-Cola inaugurates new hot-fill juice line at the Nairobi plant

KENYA - Nairobi Bottlers, the Kenyan soft drinks bottling company under the newly formed Coca-Cola Beverages Africa (CCBA) has launched a new processing line at its recently opened juice plant. The line which has a production capacity of 28,000 bottles per hour will be used to process fresh juices, iced teas and sports drinks and…

Kellogg’s exits Venezuela placing blame on country’s ‘economic crisis’

USA - The US-based multinational food manufacturing company, Kellogg’s has announced it has pulled out of Venezuela citing the country’s economic hard times that were characterized by hyper-inflation and strict price controls. According to FoodBev, the company’s product distribution in Venezuela had been suspended and the license agreement for the use and commercialization of its…