Ghana’s cocoa regulator secures US$1.3bn loan to finance cocoa purchasing

GHANA – The Ghana Cocoa Board (COCOBOD) has secured US$1.3 billion from a consortium of 24 International French banks to aid in financing the purchase of cocoa in the 2019/2020 crop season. Sources at COCOBOB […]

South Africa’s Libstar to invest US$6.65m in upgrading three facilities

SOUTH AFRICA – South African food producer Libstar Holdings has announced that it will be investing a total of US$6.65 million in upgrading three of its facilities over the next six months. The company plans […]

Sea Harvest reports 86% growth in half year revenue boosted by acquisitions

SOUTH AFRICA – Sea Harvest, a South African seafood and fisheries group, posted 86 percent growth in half year revenues to R1.87bn (US$125.68m), buoyed by its recent acquisitions. During the six months period to end […]

Kraft Heinz brings back former CFO as company seeks turnaround strategy

USA – The packaged consumer foods company, Kraft Heinz has announced the appointment of former executive Paulo Basilio to the role of chief financial officer, effective 1 September. The newly appointed chief execituve officer, Miguel […]

Kenya monthly tea exports plunge 31% on reduced auction activities

KENYA – Kenya, world second largest tea exporter, reported a 31% decline in tea export in June this year, recording 31.7 million kilos in exports from 45.8 million kilos exported at the same time last […]

Zimbabwe sugar exports to grow by 21% on increased production

ZIMBABWE – Zimbabwe projects sugar exports in 2019 to increase by 21% to 145 000 tonnes up from 120 000 tonnes exported last year on the back of increased production and large carryover stocks. The […]

Icelandic Glacial secures US$66m in funding to accelerate expansion

USA – California based spring water brand, Icelandic Glacial has raised US$66 million in financing, to accelerate the company’s growth in the USA and other markets. The financing includes US$35 million in funding from BlackRock’s US […]

Maple Leaf Foods chief financial officer to stepdown, launches search for successor

CANADA – Maple Leafs Foods, a major Canadian consumer packaged meats company, has announced that its Chief Financial Officer (CFO), Debbie Simpson has decided to leave her position effective November 1, 2019. The company, house […]

Kenyan retailer Tuskys kick offs Nairobi Stock Exchange listing process

KENYA – Kenya’s leading retail chain, Tuskys has kicked off its listing process on the Nairobi Securities Exchange (NSE) and has started searching for transaction advisors as it eyes a September 2020 listing. The retailer, […]

African free-trade agreement to boost South Africa’s agric sector – Agbiz

SOUTH AFRICA – South Africa’s agricultural sector could receive a major boost when the African free-trade zone becomes operational in July 2020, the Agriculture Business Chamber (Agbiz) has said. According Agbiz, an organisation that represents […]