Bunge files to list Brazilian sugar and ethanol business

USA - The global agribusiness and food company has filed a registration for a potential public offering of its sugar and ethanol business, Bunge Açúcar & Bionergia with the Brazilian Securities Commission. With the listing which is subject to market conditions and valuations, Bunge plans to operate the business as a stand-alone entity after obtaining…

Kenyan mango juice processor receives US$1.09m in funding from EU

KENYA - The European Union has extended US$1.09 million funding to Makueni County for a mango juice processor, Kalamba Fruit Processing plant, following an agreement between the Kenyan government and the EU. According to Business Daily, this agreement involves funding economic projects across 15 counties under the Instrument for Devolution Advice and Support (IDEAS) programme.…

CDC and Standard Chartered Bank announce investments in Zimbabwe’s agric business

ZIMBABWE - CDC Group plc (CDC), the UK’s development finance institution, and Standard Chartered Bank have announced an investment facility that will lend up to US$100 million to growing businesses in Zimbabwe. According to CDC, this risk-sharing agreement provides much needed foreign currency capital for local businesses, allowing them to grow, create jobs and improve…

Morocco to receive US$236m from AfDB to reinforce agricultural value chains

MOROCCO - The Board of Directors of the African Development Bank, Côte d’Ivoire’s multilateral development finance institution has approved US$236 million loan for Agricultural development in Morocco. The funding will finance the Program for Supporting the Inclusive and Sustainable Development of Agricultural Value Chains (PADIDFA) while reinforcing sustainable job creation. The program aims to support…

Coca-Cola inaugurates new hot-fill juice line at the Nairobi plant

KENYA - Nairobi Bottlers, the Kenyan soft drinks bottling company under the newly formed Coca-Cola Beverages Africa (CCBA) has launched a new processing line at its recently opened juice plant. The line which has a production capacity of 28,000 bottles per hour will be used to process fresh juices, iced teas and sports drinks and…

Choppies to spend US$3m on new stores in Kenya and Tanzania

KENYA - The Botswana retailer and supermarket Choppies has unveiled plans to invest US$3 million in it’s a new regional expansion strategy with two stores in Kenya and another one in Tanzania this year, reports theEastAfrican. The Kenyan stores will attract US$2.37 million while US$700,000 for the Tanzanian store, one the company stated would be…

Givaudan completes the acquisition of the nutrition division of Brazil’s Centroflora

SWITZERLAND - Givaudan has announced that it has completed the acquisition of the Nutrition Division of Centroflora Group (Centroflora Nutra), a manufacturer of botanical extracts and dehydrated fruits. Centroflora Nutra is located in Botucatu, Brazil and its acquisition according to Givaudan, forms part of its 2020 strategy to strengthen its presence in Brazil and further…

Dangote Sugar revenue declines 30.9% on lower prices in the first quarter

NIGERIA - Dangote Sugar Refineries has reported margin expansion amidst slowed sales impacting on revenue, which declined 30.9% to US$113.84 million due to lower prices in the first quarter. The Vanguard reported that although the company recorded 10.9% increase in after tax earnings to US$14.68 million, these were way too below the estimates by analysts…

Astral commits US$104.7m investment in plant expansion in 3 years

SOUTH AFRICA - Astral Foods, a leading integrated poultry producer has announced plans to invest in plant expansion with more than US$104 million in capital expenditure for the next three years to improve capacity and efficiencies, according to Business Report. Astral CEO Chris Schutte revealed the plans after reporting improved results, a 15% rise in…

Nairobi Bottlers: Investing in new juice plant on the journey to a total beverage company

Nairobi Bottlers Ltd commissioned a new juice manufacturing plant in May 2017, as the company expands its products offering to meet new consumer requirements for healthier beverages. Food Business Africa had a discussion with Duncan Kimani, the Manufacturing Director for Coca-Cola Beverage Africa’s portfolio of companies in Kenya to discuss the importance of this new…