Mumias Sugar half year sales drop 96% as sugar line shuts down

KENYA – Mumias Sugar Company’s sales in the six months to December 2018 dropped by 96% to Sh25 million (250000) from US$6.8 million (Sh680m) recorded in a similar period the previous year. The miller attributed […]

Zimbabwe’s CFI holdings gets US$33m to revamp food processing divisions

ZIMBABWE – CFI Holdings, a diversified investment company in Zimbabwe, has received US$33 million working capital to revamp its food processing divisions; Agrifoods and Victoria Foods. The capital injection from Dominion Trading will also allow […]

FrieslandCampina WAMCO inaugurates dairy training academy in Nigeria

NIGERIA – FrieslandCampina WAMCO Nigeria Plc, a leading dairy producer, has opened a dairy training academy in Lagos, Nigeria as part of the company’s efforts to promote its business and employees’ growth. Speaking during the […]

South Africa’s retailer Massmart appoints Abdool-Samad as new CFO

SOUTH AFRICA –Massmart, Walmart’s subsidiary in South Africa, has appointed Mohammed Abdool-Samad as the chief financial officer effective August 1 2019, reports Business Day. Abdool-Samad who is currently the chief finance officer at Illovo Sugar, […]

Nestle says 77% of its supply chain is ‘deforestation-free’

SWITZERLAND – Global food and beverages giant, Nestle has confirmed that three-quarters of its agricultural commodities are verified as deforestation-free as it strives to achieve the ‘zero-deforestation’ objective. The company said 77% of the raw […]

Zimbabwe’s government unveils wheat production strategy to reduce import bills

ZIMBABWE – The government of Zimbabwe has unveiled plans of engaging more producers in contract wheat farming in a move that seeks to increasing local production aimed at cushioning the country form hefty wheat import […]

Mondelez commits to 100% sustainably sourced cocoa for all brands by 2025

USA – Mondelez International has announced commitment to source 100% cocoa volume for all chocolate brands through its Cocoa Life Sustainability Program by 2025. The company said that 43% of its chocolate including Milka, Cadbury […]

Firmenich buys majority stake in VKL Seasoning to expand reach in India

INDIA – Swiss company, Firmenich has acquired a majority stake in India’s leading seasonings and flavors producer, VKL Seasoning from private equity company True North. According to Firmenich, the deal whose transaction details have not […]

Nestle Nigeria launches new maggi variants as profits rise 49% in Q1

NIGERIA – Nestle Nigeria Plc has launched a new powder seasoning product ‘Maggi Signature’ available in three flavour variants; Jollof, Miya and Pottages into the Nigerian market. Speaking during the launch, the Managing Director, Nestle […]

Sealed Air to acquire Automated Packaging Systems for US$510m

USA – American packaging company, Sealed Air has reached an agreement to acquire Automated Packaging Systems, Inc. (APS), a leading manufacturer of flexible bag packaging systems. The transaction is valued at US$510 million on a […]