Year: 2018

Campbell names food industry veteran Mark Clouse President and CEO

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USA– Campbell Soup Company has announced that its Board of Directors has elected Mark A. Clouse, 50, as President and CEO of the company effective Jan. 22, 2019.  Clouse to becomes the 14th CEO in Campbell’s 150-year history.  His appointment comes after the shock resignation of the former CEO of the company, Denise Morrison, was forced to retire in May 2018 after poor results even as the company strived to rid itself of the burden of its reliance on its vital soups business by acquiring a number of food companies to…

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Private equity firm ECP buys majority stake in Kenya’s Artcaffe

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KENYA (Reuters)– Africa-focussed private equity firm Emerging Capital Partners has acquired a majority stake in Kenyan restaurant chain Artcaffe Group, the latest sign of growing international private equity investor interest in East Africa.  The move comes after ECP’s stake sale last year in Kenyan casual dining and coffee chain Java House, which also has operations in Uganda and Rwanda.  ECP sold Java House, the largest coffee shop chain in East Africa, to buyout group Abraaj.  “There is immense opportunity in eastern Africa for casual dining concepts. Alongside population growth and…

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CCBA completes acquisition of Zambia bottling business from Zambian Breweries

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ZAMBIA – Zambia Breweries has finalised the sale of its Coca-Cola bottling business to Coca-Cola Beverages Africa (CCBA), as CCBA continues its journey to consolidate its soft beverage bottling operations in Africa. Zambia Breweries, which is a subsidiary of Anheuser-Busch InBev (AB InBev), the largest brewer in the world, is Zambia’s leading beer producer with such brands as Mosi, Castle, Carling Black Label, Eagle, Stella Artois and Budweiser. The move by CCBA paves the way for Zambia Breweries to focus fully on its clear beer operations. With the acquisition, the soft…

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Nigerian Breweries to appeal court ruling on Amstel Malta

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NIGERIA- Nigerian Breweries Plc has issued a formal statement confirming Edo State High court ruling against it in the case of Prof Ernest Izevbigie vs. Nigerian Breweries Plc and says that it intends to appeal against the ruling. The company was facing a law suit for allegedly wrongfully inscribing “low sugar”on one of its brands, Amstel Malta. The judgment was for Nigerian Breweries the to apologize to the plaintiff for what the court described as “a trade trick”for the low sugar inscription on the label of one of the company’s…

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Coca-Cola and USAID commission water and sanitation projects in Nigeria

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NIGERIA – The Coca-Cola foundation (TCCF) and The United States Agency for International Development (USAID) through their Water and Development Alliance (WADA) global partnership have commissioned a project to improve access to safe water and sanitation services in Nigeria. New Telegraph reports that the US$2 million project under the developer Partners for Development (PfD) will benefit over 50,000 persons in Cross River and Abia states in Nigeria. Speaking during the commissioning, Stephen Haykin, USAID Mission Director, said investing in WASH services is very important towards ensuring community development. “Investment in…

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UK’s packaging manufacturers to pay recycling costs under waste scheme

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UK – The UK government has unveiled a new waste strategy that mandates businesses and manufacturers of packaging to pay the full cost of collecting, recycling or disposing of their packaging waste. Also, supermarkets and other retailers will be charged penalties for putting difficult to recycle packaging such as black plastic trays on the market as part of the initiative. The strategy which seeks to make the ‘polluter pay’, is part of the government’s move to overhaul England’s waste system and put a legal onus on those responsible for producing…

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Wine and spirits firm Pernod Ricard acquires stake in Jumia to grow footprint in Africa

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AFRICA – French beverages distillery and the world’s second largest wine and spirits company has said that it has invested in Jumia, the leading ecommerce player for an unspecified stake to strengthen its position in spirits and wines on the continent. The investment in Jumia strengthens their partnership and will see Pernod Ricard, which is present in 13 African countries become a strategic shareholder in the African online retail platform. The two companies will develop innovative distribution strategies on the African continent. Pernod Ricard is looking to leverage on Jumia’s…

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DOB Equity invests in Coconut Holdings to capitalize on health conscious product

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KENYA – DOB Equity, a Dutch family-backed impact investor in East Africa has invested in Coconut Holdings Limited, producer and owner of Kentaste range of coconut based products, to help it expand on the fast growing demand for health conscious coconut products. Kyle Denning, CEO of Coconut Holdings said that the investment will allow the company to expand its processing facilities, launch new products and further develop its sales across the wider East Africa region. “We are very pleased and looking forward to working with DOB Equity on the expansion…

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AfDB approves US$75m investment in Sudan’s largest food and agro firm, Dal Group

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SUDAN – The African Development Bank (AfDB) has approved a multi-currency loan equivalent to US$75 million to DAL Group Co. Ltd, one of Sudan’s largest food and agriculture business groups. The transaction is expected to contribute to broad-based economic growth, build resilience and address food security as well as promote private sector-led economic diversification by bringing to scale, an existing and successful private sector initiative. “By partnering with DAL Group, the Bank will leverage on Sudan’s high agricultural potential as well as the experience and resilience of a private enterprise…

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Uganda manufacturers push for suspension of digital tax stamps

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UGANDA– Uganda manufacturers association has asked the government to suspend the enforcement of Digital Tax Stamps in a bid to reduce cost of doing business, reports the Monitor. According to the manufacturers, the current business environment is challenging with high cost of credits, power and inadequate infrastructure and therefore the digital tax stamps will further increase the costs. “We are very disturbed about the DTS, in a way, it is negative and it going to add to the cost of doing business. It is going to make it hard for…

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