Golden Africa to set up edible oils processing plant in Ethiopia

ETHIOPIA – Golden Africa, a subsidiary of Malaysian Hayel Saeed Anam (HAS) group, has unveiled plans of investing in a new edible oil production plant in Ethiopia. According to Mr Fouad Hayel, Golden Africa managing director, the oil seeds processing factory will be operational within a two year period with investment creating about 1500 jobs. Speaking during a meeting with Ethiopia’s Ministry of Trade and Industry Mrs Fetlework Egziabher, Mr Fuad stressed the firm will leverage on its modern processing technology, financial capacity and well-organized logistics supply chain in the…

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Cargill to invest US$112m in corn processing plant in China

ASIA – Leading agribusiness company, Cargill has said that it will invest US$112 million at its corn processing facility in Songyuan, Jilin, China in capacity expansions. This is part of the joint initiative between Cargill and Songyuan government to build the Sino-US Cargill Biotech Industrial Park, featuring the Cargill Food Safety and Technology Center. The company said it will continue to invest in the park as part of its contribution in boosting the local economy and strengthening local corn processing industry. The park was designed to facilitate corn processing and…

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Diageo partners Jiangsu Yanghe Distillery to launch premium whiskey in China

ASIA – British multinational brewer, Diageo has formed a joint venture with Jiangsu Yanghe Distillery to launch a ‘new-to-world’ premium whisky in China. Called ‘Zhong Shi Ji’, the new whiskey brand was crafted by master blenders and distillers from Scotland and China to create what the companies refer to as “a premium taste of East and West”. The new joint venture will trade under the name Jiangsu Yanghe Diageo Spirit Co. Ltd, co-owned by Diageo and Yanghe, China’s third largest Baijiu (popularly known as Chinese white spirit) distiller. Zhong Shi…

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Shoprite shareholders clinch new deal in restructuring strategy

SOUTH AFRICA – Shoprite Holding’s shareholders have entered into a tripartite agreement with potential investors in a move that seeks to dilute Shoprite chairperson Christo Wiese’s voting rights. The agreement with Thibault Square Financial Services and Titan Premier Investments will result in Wiese having 17.8% voting rights of Shoprite, down from 42.3%. In February this year, Shoprite unveiled plans of buying back the deferred shares owned by Wiese who owns 305.6 million deferred shares in a bid to align the company with international best corporate governance practice. Completion of the…

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Coca-Cola revenues grow 5% in Q1 as it counts on innovation to drive growth

USA – The Coca-Cola Company has reported solid operating results in the first quarter, registering 5% growth in revenues supported by strong innovation within leader brands which included double-digit growth for Coca-Cola Zero Sugar. Net revenues for the quarter grew by 5% to reach US$8.02 billion, while operating income stood at US$2.34 billion, 29% higher than the first quarter of 2018. Global unit case volume rose 2% boosted by strong performance in Asia Pacific, particularly China where better sales were realized from bottled water and trademark brand Coke. Earnings per…

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Tata Global to acquire Dhunseri’s branded tea business for US$14.4m

INDIA – Tata Global Beverages, multinational non-alcoholic beverages company in India has agreed to acquire the branded tea business of Dhunseri Tea & Industries Ltd (TGBL) for US$14.45 million (₹101 crore). Economic Times reports that the transaction includes Dhunseri’s brands ‘Lal Ghora’ and ‘Kala Ghora’ in an all-cash deal. According to people familiar with the matter, the deal does not however, include Dhunseri Tea’s smaller brands ‘Chhote Lal’ and ‘Dhunseri Gold’, since the two brands have no commercial value. In a notification to the stock exchanges, TGBL said the move…

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Kenyan retailer Tumaini Limited to open two new stores in expansion strategy

KENYA – Tumaini Self Service Limited, an emerging Kenyan retailer, is set to open to open two outlets in the country’s capital, Nairobi as part of its expansion strategy. The new branches will raise the number of Tumaini outlets in the country to 12 of which 8 are located within the capital. According to a report by Business Daily, the retailer has invested around US$2 million in the expansion programme that comes at a time when the country’s retail sector has seen major home-grown players go through a rough financial…

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Firm unveils new potato processing plant to boost sector in Kenya

KENYA – The newly established Engineer Foods Processing plant, a potato processing plant in Nyandarua County, is set to significantly boost the sector by addressing perennial challenges associated with the crop. Located in the leading potato producing region, the multi-million plant has an installed capacity of processing one tonne of potatoes per hour set to complement the Midland Food Processing Factory which closed operations years ago. The plant is also set to benefit producers in the region who have cited poor prices due to lack of a stable market as…

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Mars Wrigley’s opens US$70m manufacturing plant in Kenya

KENYA – Mars Wrigley Confectionary, Unites States based confectionary maker, has inaugurated a new US$70 million (Sh7bn) plant in Athi River, Kenya as it seeks to diversify its local confectionery product portfolio. Speaking during the inauguration ceremony, Duncan McCulloch, Mars Wrigley Confectionary General Manager for the Middle East and Africa said the new factory would enable the firm to expand its product range an explore new markets. With the new plant, Wrigley is set to diversify from chocolates and introduce products like Skittles as well as expand its market reach…

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Chinese firm to invest US$1.48m in new cashew nut processing plant in Tanzaina

TANZANIA – Yalin International, a Chinese firm, has unveiled plans of investing US$1.48 million (Tshs3.4bn) in setting up a new cashew nut processing plant in Tanzania. According to a report by Ipp Media, the plant will have a capacity of processing 27 metric tons of cashew nuts per day targeting to export the products to China and other international markets. Sulaiman Millanzi, the general manager at Yalin revealed that the factory will be located on about 6,400 acres of land in Mtwara region. “We are on schedule to start operations…

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