Food delivery startup Faasos in talks to raise US$100m for expansion

INDIA - Rebel Foods, owner operator of Mumbai based food delivery startup, Faasos is in talks with investors to raise more than US$100 million (Rs 735 crore) for expansion of its business. The home delivery platform is looking to enter overseas markets and expand both its product range and cloud kitchen presence nationally, suggests the…

Africa’s flavour group Afribon raises US$2m capital with I&P fund

KENYA - Regional African flavour house, Afribon Group has closed an equity financing agreement with the investment firm Investisseurs & Partenaires (I&P), bringing its total capital raised to US$2 million. According to the company, the I&P injection will help accelerate growth in its existing operations while supporting development in new countries. Apart from implementing transversal…

Chi Ltd unveils 150ml pack size for its Pineapple Coconut variant

NIGERIA - Chi Exotic Nectar, a fruit juice brand of Nigeria’s largest juice company, Chi Limited has launched a new 150ml pack size for its popular Pineapple Coconut product variant. The new offering gives the same superior taste of the brand and comes at a pocket-friendly price (US$0.14). A report in ThisDay Live indicates that…

Tanzania’s food regulator to remove ‘unnecessary’ clearance procedures at the Port

TANZANIA - Tanzania Food and Drugs Authority (TFDA) plans to remove unnecessary food and drug clearance procedures at the Dar es Salaam port to ease the burden of storage fees incurred by business people. The authorities are seeking to enhance efficient business environment and address concerns from members who complained of unnecessary bureaucracy in cargo clearance…

Whisky brand McDowell’s No. 1 changes name to ‘Mr. Dowell’s No.1’

NIGERIA - Nigeria’s largest selling whisky brand McDowell’s No. 1 Whisky has changed its name to ‘Mr. Dowell’s No.1’ following a two-weeks, unique social media campaign. McDowell’s is a brand of whisky with Indian origin, produced and marketed by Guinness Nigeria Plc under licensing agreement from Diageo Plc, its parent company. “In addition to the…

Nigerian Bottling Company discontinues use of ‘ozone-depleting’ trucks

NIGERIA - Nigerian maker of Coca-Cola soft drinks, Nigerian Bottling Company, NBC has said it has eliminated use of ‘eco-unfriendly’ trucks considered to a threat to the ozone layer, a report by BeverageIndustryNews report. The company stated that the trucks possibly posed a pollution risk to the atmosphere through the emission of ozone depleting fumes.…

Eastern Africa Grain Council pushes for pulse farming to boost food output

KENYA - The Eastern Africa Grain Council is seeking to promote farming of pulses such as beans, peas, green grams and lentils to boost food production in the region, reports Business Daily. EAGC said pulses take shorter periods and have higher returns compared to maize which has lately been threatened by pests including armyworms. “On…

Clover Industries in negotiations for potential acquisition

SOUTH AFRICA - South Africa’s largest dairy producer and branded foods company, Clover Industries has reported that it was in negotiations with a third party for its potential acquisition. Business Day reports that Clover’s share price rose by 13.55% to US$1.12 after the announcement was made. The group which also operates in branded foods and…

Fairlife launches new collection of lactose-free ready-to-drink snack beverages

USA – Fairlife, the dairy-based health food company, has announced the launch of fairlife smart snacks, a new collection of snack-sized beverages designed as the perfect snack to help curb hunger between meals. According to the company, the latest addition to the company's portfolio of highly nutritious beverages, fairlife smart snacks are made with fairlife…

Molson Coors officially opens modern brewing facility in Canada

CANADA - Molson Coors, a multinational brewing company, has officially broken ground for the construction of company's most modern brewing facility and distribution centre to date. The project represents a major investment and a new chapter in the company's 230 plus years in Canada. This new brewery and distribution centre is a significant investment by…