NIGERIA – The President of the Senate, Dr. Bukola Saraki has cautioned that unless smuggling is tamed by relevant authorities, it would make a waste of the over $7 billion invested by the government to stimulate local production of rice in the last 10 years.
KENYA – Global food processor Nestlé has paid Sh630 million (US$6.3 million) to coffee farmers in Mount Kenya region, a 75 per cent increase on the amount paid out last year.
NIGERIA – Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8bn in sugar and rice and $800m in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria.
KENYA – A court has allowed police and the Anti-Counterfeit Agency (ACA) to arrest and prosecute senior Platinum Distillers officials and agents over the alleged theft of 50-litre keg barrels from EABL, which detectives say are now being used to refill beer manufactured by the local firm.
SOUTH AFRICA – Coca-Cola Africa has announced a reorganisation of its African operations in the 18 Southern and East Africa countries where it operates, effective August 1.
NIGERIA – Shareholders of Unilever Nigeria Plc should expect higher dividend at the end of the current financial year going by its improved financial results for the half year ended June 30, 2017.