AB InBev profits surge 50% as SABMiller boosts operations

BELGIUM – The world’s leading brewery, AB InBev has reported a robust growth in its nine-month financials for the period ending September 30 2017, boosted by the former SABMiller operations in key emerging markets and premiumisation efforts. The brewer, which has been incorporating SABMiller’s business in its operations following its acquisition of its number two…

Dairy producer Clover appoints Frantz Scheepers as CFO

SOUTH AFRICA - Frantz Scheepers has been appointed the new CFO of Clover Industries, replacing 2017 CFO Awards nominee, Elton Bosch. Starting 1 November, for two months, Scheepers will act as the CFO designate, working closely with Bosch to ensure a smooth transition. He will then formally take over as CFO, effective 1 January, also…

South Africa honey could fetch US$1.5 billion turnover

SOUTH AFRICA - A structural approach and strategic business model could see South Africa's honey industry turnover reach R20bn (US$1.5 billion), according to experts. Rishad Ahmed, project funding expert and specialist from Incentives SA said the inclusion of various industry stakeholders in a combined effort could aid in the growth of the industry. The local…

Quantum Foods expects significant results improvement

SOUTH AFRICA - Quantum Foods shares surged as much as 18% on Thursday, after issuing a trading update stating they expect a much improved financial performance. The chicken feed and egg producer expects headline earnings per share in the year to September to rise by up to 85%, benefiting from lower input costs. The trading…

No decision yet on bird flu vaccination – Minister

SOUTH AFRICA - Agriculture Minister Senzeni Zokwana said state veterinarians were still assessing whether South Africa's chickens should be vaccinated amid the country's worst ever bird flu outbreak. Zokwana was answering questions in the National Council of Provinces on Tuesday. Over four million chickens have been culled this year following an outbreak of highly pathogenic…

Afgri’s food unit takes aim at Africa’s food industry

SOUTH AFRICA - Philafrica Food, a recently launched subsidiary of agricultural investment holding company Afgri Group, says it plans to transform food processing in sub-Saharan Africa through investments of between R50m and R100m over the next 18 to 24 months. CEO Roland Decorvet said on Tuesday Philafrica aimed to become a big food operator in…

SA fresh produce market agents charged for price fixing

SOUTH AFRICA - The Competition Commission on Wednesday referred 14 fresh produce market agents and their association, the Institute for Market Agents of South Africa, to the Competition Tribunal for prosecution in relation to charges of price fixing and fixing trading conditions in contravention of the Competition Act. This follows search and seizure operations conducted by the Commission…