Guinness Nigeria reports 18% decline in full year profits to US$15.15m

NIGERIA – Guinness Nigeria, a subsidiary of Diageo Plc, reported 18 percent drop in net profits for full year profits for the financial year ending June 2019 to N5.5 billion (US$15.15 million). The company’s revenues […]

South African retailer Shoprite opens new branch in coastal Kenya

KENYA – Shoprite Holdings, Africa’s largest supermarket retailer headquartered in South Africa, has opened its third branch in Nyali, Coastal Kenya as it continues to consolidate its presence in the East African country. Located in […]

India’s Luxmi Tea to invest US$30m in Rwandan unit to expand processing capacity

RWANDA – Luxmi Tea, an India based tea processing company, will be investing between US$28 million and US$30 million in its Rwandan subsidiary, Rugabano Tea Factory to ramp up processing capacity. Luxmi unveiled the investment […]

South Africa’s Zeder Investments acquires stake in East African Seeds Company

SOUTH AFRICA – Zeder Investments, a South African agribusiness group, has secured an agreement to acquire 40 percent shareholding in East African Seeds (EAS) Company. The investment in EAS, a seed company with operations in […]

Rwanda unveils plans of testing genetically modifies potato variety

RWANDA – Rwanda has unveiled plans of testing a newly developed Genetically Modified (GM) potato variety that is expected to significantly increase yields, reports New Times Rwanda. Developed by the International Potato Centre (CIP), the […]

Arla Foods reports growth in revenues amid volatile global dairy market

DENMARK – Arla Foods has reported growth in revenues during the six months period ending June 2019 to €5.2 billion (US$5.74bn) despite a period of “rare stability” in the volatile global dairy market. The Danish […]

International Grain Council raises global grain production forecast by 11m tonnes

USA – The International Grains Council (IGC) has revised its forecast for total world grain production in 2019-20 upwards by 11 million tonnes. In its most recent monthly Grain Market Review (GMR) the IGC said […]

Chr. Hansen plans new innovation campus in Denmark to bolster research

DENMARK – Chr. Hansen has entered into a cooperation agreement with PensionDanmark on a significant expansion of its main office campus and research & development facilities in Hoersholm north of Copenhagen. PensionDanmark is one of […]

Pernod Ricard breaks ground on new US$150m whisky distillery in China

CHINA – French spirits and wine group, Pernod Ricard has initiated construction of a malt whisky distillery in Emeishan, Sichuan in China that will see the company invest US$150 million over the next ten years. […]

Premier Foods appoints new CEO as finance head steps down

UK – Premier Foods, the Mr Kipling cakes and Bisto gravy owner has appointed Alex Whitehouse, its UK managing director as the company’s new chief executive officer. Whitehouse will take over from Alastair Murray who […]