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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…
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…
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…
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,…
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…
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…
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…
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…
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…
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…