EABL increases its stake in Tanzania’s Serengeti Breweries by 21.5%

TANZANIA - East African Breweries Limited (EABL), Diageo’s operating unit has raised its stake in Serengeti Breweries Limited (SBL) by 21.5% to build on its investment as a majority shareholder in the company. According to the Nation, the East African brewing giant has converted US$151.98 million loan into equity to the Tanzanian subsidiary that was…

Spur’s earnings grow 14% this year as it banks on new technology opportunities

SOUTH AFRICA - The South African steakhouse franchise restaurant chain, Spur Corporation has posted a 14% rise in headline earnings per share (Heps) from continuing operations and is banking on technology platforms such as Uber Eats and Mr Delivery for services to expand its customer base, reports Business Day. While comparable Heps were down by…

Bunge Loders Croklaan launches new liquid margarine for artisanal and industrial bakeries

USA - Bunge Loders Croklaan, a leading global producer of sustainable premium quality vegetable oils and fats, has launched its new, next-generation, liquid margarine: Delica Pro Gold. According to FoodingredientsFirst, the plant-based, clean-label margarine for artisanal and industrial bakeries will be featured for the first time at IBA in Munich, later this month. Delica Pro…

Nespresso announces long-term investment to revive Zimbabwe’s coffee industry

ZIMBABWE – Nespresso, a coffee operating unit of the Nestlé Group, has announced a long-term investment plan to revive Zimbabwe’s coffee industry and stimulate the rural economy. The company announced that it will provide training and technical assistance to 400 smallholder coffee farmers over the next five years, with the goal of increasing the country’s production…

mitte raises US$10.6m seed round for building plain tap water-to-mineralized water system

GERMANY – Mitte, the first of its kind smart home water system, has announced that it has secured US$10.6 million in financing, for a project of building a system that turns plain tap water to mineralized water at home. According to the company, the financing round was led by Danone Manifesto Ventures, the New York-based…

PepsiCo to introduce start-up accelerator programme in the U.S. after Europe’s success

USA – PepsiCo, an American multinational food, snack, and beverage corporation, has announced that it will introduce its Nutrition Greenhouse start-up accelerator programme in the US, following the success of the scheme in Europe. According to FoodBev, the programme aims to find and support ten emerging brands in the food and beverage sector who have…

Speciality rice company LT Foods receives Rabobank funding

INDIA - LT Foods Ltd., an emerging Global Food Company with focus on Specialty Rice - Basmati, Organic Food and Rice based Convenience products, has announced that it received equity capital by Rabobank’s India Agri Business Fund II Ltd. The company reported that that its Board of Directors approved the infusion of the funds into…

Bakkavor announces US$13.9m strategic acquisition of Haydens Bakery

UK - Bakkavor Group plc, the leading provider of fresh prepared food, has announced the acquisition of Haydens Bakery Limited from Real Good Food PLC, a deal valued at US$13.9 million. According to the company, the acquisition of Haydens increases the breadth and depth of our desserts range, extending our offering in in-store bakery, as…

Unilever Ghana launches IdeaTrophy business challenge to engage university students

GHANA - One of the largest producer and retailer of consumer goods in Ghana, Unilever Ghana has launched IdeaTrophy Business Challenge 2018 to provide university students with a creative and challenging experience in the business world. Launched in Ghana in 2012, the business challenge seeks to improve youth employ-ability as students gain practical experiences of…

Muafaka Butcheries to invest US$600,000 in a new abattoir targeting export market

TANZANIA - Muafaka Butcheries Limited, a proprietor company of modern butcheries in Tanzania is planning to invest about US$600,000 (over 1.3bn TZS) in modern slaughterhouses targeting the export market. IPP media reports the halal certified company has already secured a five-hectare plot in Pwani region where construction work of the abattoir will likely start before…