Nigeria to commission Africa’s first rice seedling factory in Calabar

NIGERIA - Nigeria’s President Buhari is set to commission Africa’s first automated rice seed and seedlings factory in Calabar, Cross River State as part of the country’s initiative to agricultural diversification. The factory is located in the Cross Rivers rice city and according to New Telegraph, the rice project is expected to boost the state’s…

Reserve Bank releases US$20m for 200,000 tons of wheat imports

ZIMBABWE - The Reserve Bank of Zimbabwe (RBZ) has released US$20 million for importation of wheat from Canada and Germany to supplement the insufficient national wheat stocks. This was as requested by millers following poor harvest in the drought-hit southern African country. The amount will be used to pay for 200,000 tonnes of wheat procured…

Footprint to Africa stakes US$16.68m in new yam and plantain processing plants

NIGERIA - The premium African news media and investment company, Footprint to Africa has invested more than US$16 million for new yam and plantain processing plants in order to enhance food security in Nigeria. The initiative is part of plans to bridge Nigeria’s food gap as well as achieve the government’s diversification agenda for the…

Ghana opens a new flour milling factory in West Coast Region

GHANA - Ghana has established a new plant, Aspuna Flour Mill and Processing Factory in Duwasu, Kombo, West Coast region that will process cassava into flour and starch, reported a Ghana Newspaper, Foroyaa. While the cassava flour produced will be sold in the local market and surplus exported, the starch will be exported to attract…

IFC invests US$25m in KazFoodProducts food processing group

ASIA - The International Finance Corporation (IFC), a member of the World Bank Group is investing US$25 million in KazFoodProducts LLP food processing group of companies operating in grain milling and confectionary sectors. The investment aims at supporting the company’s expansion plans, boost Kazakhstan agricultural sector through diversification strategies as well as enhancing global food…

Gotham Greens raised US$29 million in equity funding

USA - Gotham Greens, a leading urban greenhouse developer and grower of locally and sustainably grown produce, has announced the closing of US$29 million in Series C equity funding last month. According to the company, the new round brings the company's total funding until date to US$45 million, not including bank debt. Since its pioneering…

Botswana turns to South Africa and Zambia for maize imports

BOTSWANA - Botswana continues to import 170,000 metric tonnes of maize annually as it has always run out of corn due to insufficient local production, according to an article by AllAfrica. Speaking in an interview, Botswana Agricultural Marketing Board (BAMB) chief executive officer, Mr Leonard Morakaladi noted that on annual basis the country needed 190…

Food, Medicine Authority to decentralize for efficiency in product regulation

ETHIOPIA - The Food, Medicine Authority of Ethiopia considers decentralizing after the government revealed plans to re-establish the federal authority with a focus on product regulations, leaving services to other agencies, reported the Fortune. With the new bill awaiting approval and endorsement by parliament, the country seeks to restructure the Food, Medicine & Health Care…

SA management considers buying the largest African feedlot valued at US$450m

SOUTH AFRICA - The management of the largest cattle feedlot in the continent, Karan Beef (Pty) Ltd is planning to acquire part or all of the firm from its owner Ivor Karan in a deal that values it at US$450 million, according to people familiar with the matter. An article by Bloomberg revealed that Karan…

Pioneer Foods’ division Bokomo upgrades milling plant for increased efficiencies

BOTSWANA - Bokomo Foods, a breakfast cereals company and division of Pioneer Foods (Pty) Ltd has unveiled an extensive mill upgrade which it had been undertaking since the first quarter of 2018, reported Botswana Daily News. According to the company’s CEO Mr Werner De Beer, the upgrade was a first of its kind in the…