Pernod Ricard to acquire majority stake in South Africa spirit maker Inverroche

SOUTH AFRICA – Pernod Ricard South Africa, a subsidiary of Jameson whiskey and Absolut vodka producer, is set to acquire a majority stake in South African craft spirit brand Inverroche. Based in the Cape Floral […]

Kenya to purchase 1m tonnes of maize, flour from Tanzania to avert shortage

KENYA – Kenya has entered into an agreement with Tanzania for the purchase of one million metric tonnes of maize and flour to help the country bridge a shortfall of the commodity. Government officials from […]

East African Breweries reports 57% jump in full-year profits to US$115m

KENYA – The East African Breweries Limited (EABL) posted a 57.34 per cent growth in net profit to US$115 million (Sh11.5 billion) for the year ending 30th June 2019. The company’s performance was boosted by a […]

FAO, Nigeria launch report on sustainable livestock development to stimulate growth

NIGERIA – The Food and Agriculture Organisation of the United Nations (FAO) in partnership with the Nigerian government has launched the report on African Sustainable Livestock (ASL) 2050. Speaking during the launch in Abuja, the […]

Nigeria’s Tamaidukka Group to invest US$25m in agro allied industrial park

NIGERIA – Tamaidukka Group, a Nigerian diversified investment company with intrests in agro-industry and real estate development will be investing US$25 million in developing an agro-based industrial park in Kaduna State. The company said that […]

Coca-Cola reports 6% growth in Q2 revenues with a boost from Costa coffee

USA – The Coca-Cola Company has reported strong operating results in the second quarter of 2019, highlighting 6% growth in net revenues to US$10 billion. The company attributed the revenue growth to concentrate sales growth […]

Unilever half year sales grow 3.3% driven by emerging markets

UK – Unilever has announced its half year 2019 results showing underlying sales growth of 3.3%, led by emerging market business which grew 6.2%. Revenues during the period decreased 0.9% attributed to divestment of its […]

Nestle reports 3.5% rise in sales with strong growth in US and Brazil

SWITZERLAND – Nestle’s half year results show 3.5% increase in sales from CHF 43.9 billion to US$45.5 billion (US$45.7 billion), led by strong growth in the United States and Brazil. Earnings per share decreased by […]

Danone records sales growth in all units during second quarter

FRANCE – Danone posted a 2.5% increase in like-for-like sales in the second quarter as it was boosted by the performance of its baby food products in China. The company which owns brands such as […]