AfDB approves US$1m grant to boost food and nutrition in Angola

ANGOLA – The African Development Bank has approved a grant of US$1million to boost children’s food and nutrition security program in Bié province, Central Angola. This follows the submission of proposal for the grant for Emergency Food and Nutrition Security in September by the government after a severe drought hit the province, aggravated by below-average and erratic rainfall. This plunged 2.3 million people into a food security crisis, among which 49, 131 are estimated to be children under the age of five suffering from malnutrition. The humanitarian condition in the…

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International Breweries shareholders approve raising capital through Rights Issue

NIGERIA – The shareholders of International Breweries Plc have approved the company’s ‘Rights Issue’ as proposed by the Board of Directors and further authorised the board to take all steps required to give effect to the resolutions as approved. In a statement released to the Nigerian Stock Exchange (NSE), it read, “International Breweries Plc hereby notifies The Nigerian Stock Exchange that the Shareholders of the Company at the General Meeting held on 15 October, 2019 approved the Rights Issue as proposed by the Board of Directors and authorized the Board…

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Danone’s third quarter sales climb to US$7.13bn boosted by Chinese market

FRANCE – Danone posted a 3% increase in like-for like sales to €6.42 billion (US$7.13bn) in its third quarter ending September 2019 boosted by the performance of its baby food products in China. While value growth continued to be the main growth driver at 4.6%, Danone saw sales in its early life nutrition segment rise by more than 20% in China, thanks in part to an increased presence in stores in lower tier cities, growth in e-commerce and innovations roll-out. During the three months period, sales volumes however declined by…

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Ethiopia Trade Ministry to fashion the National Laboratory with equipment worth US$5m

ETHIOPIA – Ethiopia’s Trade Ministry will be equipping the National Laboratory with Laboratory equipment worth US$5m to be procured with financial support from the World Bank. The equipment will be used for standardisation, accreditation and conformity assessments of export items i.e. agricultural, textile and leather products. The procurement is part of the National Quality Infrastructure Development Project, which aims to boost exports with 50 million dollars in financing from the World Bank. The project will benefit exporters, private quality assessment service providers and regulatory authorities reports Addis Fortune. For the…

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Islamic Development Bank finances US$26m livestock production project in Gambia

GAMBIA – Gambia’s Ministry of Agriculture has launched a US$26m small ruminant production and enhancement project with financing from the Islamic Development Bank (IDB). The small ruminant production and enchantment project is a four-year initiative and will be financed through a two-step finance approach focusing on four major areas. According to the Minister of Agriculture Amie Fabureh, “The focus is on enhancing small ruminant development through herd health support mechanism, increasing productivity through genetic improvement and improved feed system, production and marketing management, innovation of portion processing techniques and access…

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CBH completes US$164m expansion to enhance supply chain efficiency

AUSTRALIA – Australia’s leading grain merchant, CBH Group has invested A$240 million (US$164m) in the network this year to enhance supply chain efficiency, maintain the network and expand storage capacity. The investment, which is the Group’s biggest ever investment in the network has seen the company add approximately 1 million tonnes of new permanent storage, installed throughput enhancement projects at 36 receival sites and set up 16 new weighbridges. This forms part of CBH’s ongoing investment into the network to keep fees competitive, increase throughput capacity and efficiency and meet…

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German retailer Lidl to spend US$19bn on its UK business over the next five years

UK – German retailer, Lidl has announced that it will be spending £15 billion (US$19.34 billion) on its British business over the next five years, commiting to increase sales of local meat, poultry and fresh produce. The supermarket chain said that it plans to increase sales of British sourced fresh meat, poultry and fresh produce by more than 10% across the next 12 months. To deepen its relations with British suppliers, Lidl, part of the Schwarz retail group, said it would introduce longer-term contracts with suppliers to help them invest,…

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Maple Leaf doubles distribution of meat alternatives products in the US

USA – Greenleaf Foods SPC, a subsidiary of Maple Leaf Foods has announced a retail  expansion of its plant-based meat alternatives line into more than 12,000 retail locations nationwide. Greenleaf Foods, which is also the parent company of Lightlife Foods, said that Kroger, Publix and Target will be major retailers that plan to carry the product. Lightlife’s new vegan meat line made its retail debut at select United States locations of supermarkets such as Safeway, Vons, and Wegmans, along with 3,400 retail locations in Canada. The expansion into more than…

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Refresco forms strategic partnership with PepsiCo in Spain

SPAIN – Soft drinks bottler, Refresco has reached a strategic agreement with PepsiCo for the production of part of the PepsiCo beverages in Spain, effective 1st November 2019.  Under the agreement, PepsiCo will transfer two of its the three factories currently it operates in Spain: Tafalla (Navarra) and Seville, to Refresco, Refresco said that these production locations complement its current plants in Spain and provide the company with extra capacity for its growth in Spain.  PepsiCo will have a mixed supply model in Spain, since its third plant located in…

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Craft beer maker White Owl Brewery raises US$5.63m to expand footprint

INDIA – Mumbai-based craft beer maker, White Owl Brewery has raised US$5.63 million (₹40 crore) in its second round of funding to accelerate the brewer’s expansion in new geographies. Led by existing investor, IIFL India Private Equity Fund, the new funding round will bring the total capital raised by the brewer to US$9.85 million (₹70 crore), according to an ET Retail report. The latest equity financing round is believed to have valued the firm at a little over US$28 million (₹200 crore), sources familiar with the matter said. In addition…

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