Nestle Nigeria reports 22% growth in half-year profit to US$72.39m

NIGERIA – Nestle Nigeria Plc reported 22% growth in net profit for the first half of the year ending on 30 June, 2019 to US$72.39 million (N26.2bn) supported by 21% decrease in finance cost. Revenues […]

Coca-Cola Nigeria appoints Yebeltal Getachew as new managing director

NIGERIA – Coca-Cola Nigeria Limited (CCNL) has appointed Yebeltal Getachew as the new Managing Director of the company. Getachew, whose appointment was effective June 2019, takes over from Bhupendra Suri and will be responsible for […]

Ghanaian cocoa regulator to raise US$1.3bn to finance its 2019/20 operations

GHANA – Ghana Cocoa Board (COCOBOD) has unveiled that it will be raising US$1.3 billion (GHȼ 6.96 billion) in syndicated loans for its operations in the 2019/2020 season. The Minister of Finance, Mr Ken Ofori-Atta, […]

Nigeria’s Farmcrowdy merges subsidiaries to improve performance

NIGERIA – Farmcrowdy, a Nigerian agritech platform has merged its subsidiaries, Farmgate Africa and Agricsquare, create a revamped Farmcrowdy brand as it seeks to improve its performance. The company said that the move was to […]

Kenyan Coffee producer Eaagads returns to profitability as volumes grow 172%

KENYA – Eaagads Limited, a bulk coffee producing company in Kenya, has reported growth in revenue by 114.6 percent to Sh179.6 million (US$1.72m) driven by 172% increase in volumes for the year ended March 2019. […]

Nigerian government to set up 3 cassava processing plants to boost sector

NIGERIA – The Federal Government of Nigeria says that it has concluded plans of establishing three modern cassava processing plants in Arochukwu local of Abia state. The plan was initiated by the Federal Institute of […]

Multivac’s Joachim Boekstegers to step down, new co-CEOs to take over

GERMANY – Packaging solutions provider, Multivac Group has announced that company CEO Hans-Joachim Boekstegers will be stepping down from the company effective 1 January 2020. He will be replaced by his director colleagues, Christian Traumann […]

Morrisons supports farmers transitioning to Arla UK 360 standard

UK – Morrisons, UK’s fourth largest supermarket chain has opened up its beef supply chain to help its associated farmers transition to Arla UK 360 standard. The move will see bull calves from Morrisons’ dairy […]

Saudi Arabia outlines next phase of flour mills privatization

SAUDI ARABIA – Saudi Grains Organization (SAGO), the state grain buyer has stated that it will begin the next phase of the sale of its flour mills within days in a privatization move. According to […]

Dean Foods appoints Eric Beringause new President and CEO

USA – Dean Foods, America’s leading food and beverage manufacturer has appointed Eric Beringause as the company’s new President and Chief Executive Officer effective July 29, 2019. Eric who will also join the Dean Foods […]