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SOUTH AFRICA – Africa’s largest retail chain, Shoprite reported 18.2 percent decline in full year net profit to US$ 273.12 million (R4.2bn) as the South African retailer struggled to lift sales in majority of the […]
USA – Hazel Technologies, a USDA-supported agricultural technology start-up, has raised US$13 million in Series B funding to expand its shelf life-extending solutions. Led by Pangaea Ventures and S2G Ventures, the Series B funding brings the […]
USA – Motif Ingredients, a food science and technology company owned by biotech unicorn Ginkgo Bioworks has US$27.5 million funding to expands research and development of animal-free ingredients. In addition, the company has also revealed […]
ZIMBABWE – Paper and packaging giant, Nampak Zimbabwe says its capital expenditure projects remain curtailed after it suspended all credit extensions and capital injection by the major shareholder, reports the Chronicle. In a trading update […]
NIGERIA – Following the recent directive by Nigeria’s President Muhammadu Buhari ordering the Central Bank of Nigeria to stop providing forex for food importation in the country, several stakeholders have called on the Government to […]
RWANDA – The government of Rwanda has secured a US$91 million (Rwf83bn) funding from Japan to supplement the country’s effort to tackle malnutrition, reports New Times Rwanda. The agreement was signed between Rwanda’s Minister of […]
JAPAN – Kirin Holdings, Japan’s second-largest brewer says that it will spend US$1.22 billion (129.3 billion yen) to purchase a 30.3% stake in cosmetics and health food maker Fancl. The investment is part of Kirin’s strategy of […]
TANZANIA – Tanzania’s coffee production has almost doubled to four years high, thanks to good weather and high crop circle boom this season. Tanzania Coffee Board (TCB), acting Director General Primus Kimaryo notes that the […]
USA – Boston’s plant-based snacking brand, Biena Snacks has secured US$8 million in Series B financing led by MAW Investments, to accelerate growth of the brand. MAW Investments is a private equity firm created by former Snyder’s-Lance […]
DENMARK – Global brewing company, Carlsberg has reported strong first-half results, with solid profit improvement of 17.7% boosted by premium beer and sales in the Asian market. The Tuborg and Holsten owner reported a 6.5% […]