Danone reports 0.8% rise in first-quarter sales, maintains full-year outlook

FRANCE – Global dairy giant, Danone has reported 0.8% increase in first-quarter sales to US$6.89 billion (€6.13 billion), confirming 2019 full-year profit guidance. The company expects like-for-like sales growth of around 3% and recurring operating margin of more than 15% in the year 2019. Consolidated sales during the quarter were boosted by a 3% rise…

Industrialisation lobby group proposes US$2bn bond to support Ghana’s agriculture sector

GHANA – The Alliance for Development and Industrialization (ADI), an industrialisation advocacy group in Ghana, has tabled a US$2 billion Transformational Commodity Fund (TCF) for the development of a sustainable agriculture sector in Ghana. According to ADI the US$2 billion fund will support the entire sector and adjourning structures such as roads infrastructure at community…

Kenyan retailer Uchumi Supermarkets banks on franchising to drive growth

KENYA – Kenya based retailer, Uchumi Supermarkets, has unveiled plans of franchising more of its branches across the country in a move that aims at enabling the retailer recover its performance and grow its business. Speaking while handing over its Nairobi West branch that will see the outlet operated by a franchisee Uchumi Supermarkets chief…

South Africa’s Kaap Agri reports 28.7% growth in revenues as conditions rebound

SOUTH AFRICA - Kaap Agri, South Africa’s agricultural retailing and service company, has reported a 28.7% growth in revenues to R4.4bn in the six months to end March 2019 supported by drought recovery in some operating regions. The Johannesburg Stock Exchange (JSE) listed firm however, said that gross profit in relation to revenue growth did…

Tanzania coffee exports generate US$77.74m as production increases

TANZANIA – Tanzania coffee export generated US$77.74 million (Tzs 180bn) in revenues from the export of 65,000 tonnes of coffee in the 2018/19 crop season supported by increased production of the commodity. Speaking during a recently held national coffee stakeholders meeting, Primus Kimaryo Director General Tanzania Coffee Board (TCB) said that the country recorded 30%…

Nigerian Breweries issues US$41.67m commercial paper to support its short-term funding

NIGERIA – Nigerian Breweries Plc has announced the issuance of US$41.67 million (N15bn) Commercial Paper (CP) as part of its US$277.78 million (N100bn) commercial paper programme to support the company’s short-term funding. The funding follows the company’s board decision to pay out the entire net profit of US$53.89 million recorded in 2018 as cash dividend…

Egypt’s Arabian Food Co reports 151% growth in profits as sales surge

EGYPT – The Arabian Food Industries Co, an Egyptian food and beverage company popularly known as Domty, has announced 151% growth in consolidated profits toUS$8.93 million (LE154.6m) during 2018 financial year up from US$3.55 million (LE61.5m) posted in 2017. The Egyptian Stock Exchange listed firm posted increase in sales to US149 million (LE2.58bn) in the…

South Africa’s Pick n Pay annual turnover grows 9.6%, approves expansion plans in Zimbabwe

SOUTH AFRICA - Pick n Pay, second largest retailer in South Africa has reported 9.6% growth in its annual turnover for the financial year to the end of March 2019 despite declining consumer spending which has affected retailers in the country. According to a report by Business Report, the retailer said in a recent trading…

Coca-Cola Amatil launches venture capital arm Amatil X in Indonesia

ASIA – Coca-Cola Amatil has announced that it will launch its corporate venture capital arm Amatil X in Indonesia as it looks to accelerate innovation and investment in local startups. Launched last year, the venture arm aims to provide digital startups with a platform to grow while providing innovative solutions for the development of the…

IFC invests US$3m in agri-logistics group to expand services in Myanmar

ASIA – The International Finance Corporation, IFC has provided US$3 million loan facility to SLCM Limited, a Delhi-based agri­ logistics group to expand its warehousing services in Myanmar. According to IFC, the credit facility will help the company expand its warehousing services and allied services in the Southeast Asian nation while improving farmers’ livelihoods by…