Nestle Ghana records 12.8% growth during 2018 financial year

GHANA - Nestlé Ghana Limited recorded a 12.8% growth in its 2018 financial year across its business supported by strong performance of the company’s downstream distributors This is according to Ms Philomena Tan, Managing Director of Nestlé Ghana Limited, who was speaking during the company’s recently held distributors’ awards ceremony. She stated that the firm’s…

Kenya eyes Chinese market for lucrative avocado and stevia exports

KENYA – Kenya is set to market its avocado produce in the Chinese market after the Ministry of Agriculture launched an initiative that seeks to expand the country’s market at a global scale. According to said Agriculture Cabinet Minister, Mwangi Kiunjuri avocado and Stevia, a crop used for the making of calorie free sweetener, are…

Nestle Nigeria reports profits growth by 27.5% to US$165.22m

NIGERIA – Nestle Nigeria Plc has posted US$165.22 million profit before tax during its financial year ended 31st December 2018 up from US$129.5 million in its previous year which represents a 27.5% growth. The company’s turnover during the period under review climbed up to US$736.33 million compared with US$675.14 million posted in 2017 translating to…

Nestle India reports 9.6% growth in profits to US$47.96m in Q4

INDIA – Nestle India reported a 9.6% growth in net profits to US$47.896 million for its fourth quarter period ended 31st December 2018 up from US$43.76 million posted in the corresponding period in its previous financial year. The company total revenues in the period under review increased from US$417.16 million against US$372.26 posted in the…

Technology firms partner in launching digital aquaponics to address malnutrition

SOUTH AFRICA – South Africa’s IT firm Matsei Technologies and Consulting has partnered IFS corporate in the launch of digital aquaponics farming solution aimed at addressing malnutrition in the country. The ‘smart agriculture’ initiative uses technology such as the Internet of Things, Enterprise Operational Intelligence and analytics to automate and monitor fish aquaponics operations in…

Kenya’s tea agency projects lower prices as production increases

KENYA – Kenya Tea Development Agency (KTDA) projects low earnings for tea farmers this year following a 17% drop in the price of the beverage in the first half of the 2018/2019 financial year, reports Business Daily. In the first half of the 2018/2018 financial year, Kenya recorded increased volumes of processed tea which pushed…

Nestle invests US$14m in a new coffee facility in Egypt

EGYPT – Nestlé has inaugurated a new coffee factory in Egypt for its Bonjorno brand, following an investment of US$14 million (EGP 250 million). Located in the 6th of October industrial zone, the facility sits on a 12,740 square-metre land which Nestlé says has the most advanced coffee making technologies. The new Bonjorno coffee factory…