Nestlé joins public-private coalition to boost quality education in Ivory Coast

IVORY COAST– Nestlé has joined the Child Learning and Education Facility (CLEF) and the Early Learning and Nutrition Facility (ELAN) coalition to combat child labor and provide a good start in life and quality education for all children in rural communities in Ivory Coast. The CLEF & ELAN coalition is a pooled financing facility, and the first public-private partnership focused on scaling investments of 150million Swiss Francs (US$154.8m) to promote effective learning and early childhood development at scale in Côte d’Ivoire. Members to date include the Jacobs Foundation who has…

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Neuro Brands debuts shelf-stable live probiotic drink Probucha

USA – Neuro Brands, a leader in the healthier lifestyle beverage space, has officially debuted its new revolutionary digestive health beverage, Probucha, in the United States. Probucha is a lightly carbonated probiotic drink, naturally flavored with meyer lemon and ginger that can help in digestion. Probucha is one of the few shelf-stable live probiotic drinks on the market.  Neuro Brands explains that with the name derived from its two main ingredients – probiotics and kombucha, the new product is designed in the style of Kombucha and its probiotic benefits derived…

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Kenya launches US$13.9m coffee revitalization project in partnership with the World Bank

KENYA – The Kenyan government in partnership with the World Bank has launched phase one of coffee revitalization project to a tune of Ksh 1.5 billion (US$13.9m) concessional loan in two years that will focus on increasing coffee production in 8 growing areas. The programme will cover Kiambu, Murang’a, Nyeri, Kirinyaga, Machakos, Embu, Tharaka Nithi and Meru Counties. Speaking during the launch of the project, Agriculture livestock, Fisheries and Cooperative Cabinet Secretary, Peter Munya said the programme will not only increase coffee production but will improve efficiency of farmer cooperatives,…

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KKR makes US$500m equity investment in US Foods Holding Corp

USA – Global investment firm, KKR – through its affiliates – has announced a US$500 million equity investment in American food company and a leading foodservice distributor, US Foods Holding Corp. The investment was made through purchase of newly issued convertible preferred stock in US$28 billion foodservice company. KKR said that it will be funding the investment primarily through its KKR Americas XII Fund. According to a statement issued by the food company KKR’s US$500m convertible preferred stock investment carries a 7% dividend. On an as-converted basis, the preferred stock…

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Trade Kings Foundation launches hygiene drive against Covid-19 in Lusaka

ZAMBIA – As part of the K28 million (US$1.53m) pledge by Trade Kings Foundation towards a joint initiative with Ministry of Health and Ministry of Information of Zambia, to curb the spread of Covid-19 in the country, the Foundation has launched a Hygiene Drive. The drive is characterized by donation of handwashing stands and hygiene products that will be placed at 50 locations across Lusaka including bus stations and markets. The tripartite approach to the campaign which includes prevention is focusing on enhancing both environmental and personal hygiene for the…

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Israeli startup Cannibble FoodTech eyes listing on a major stock exchange

ISRAEL – Cannibble FoodTech, an Israeli-based food-tech developer of cannabis-based edibles targeting a variety of different, new and revolutionary types of cannabis infused food and beverages, has unveiled plans of listing on a major stock exchange by the end of 2020. Cannibble Foodtech is currently on its second fund raising round after successfully closing a US$1 million investment round in March last year. The round saw the startup become the first company in Israel to raise US$1m from a crowdfunding platform and to cross the 1,000 investors bar. In March…

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Bunge to sell 35 US grain elevators in portfolio optimization strategy

USA – Agricultural commodity trader, Bunge Limited has announced that it has agreed to sell 35 U.S. interior elevators to Zen-Noh Grain Corporation to enable the company to optimize its portfolio and invest in higher returning operations. Closing of the transaction, whose financial details were not disclosed, is subject to customary closing conditions, including regulatory approval. “This transaction will allow Bunge to operate more efficiently and reinvest in higher returning areas of the company while reducing costs and strengthening our balance sheet,” said Greg Heckman, Bunge’s Chief Executive Officer. Greg…

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Israeli startup develops antimicrobial solution to protect food production environs

ISRAEL – Bio-Fence, an Israeli startup established under The Kitchen Foodtech Hub, has developed an antimicrobial coating technology designed to prevent infection by pathogenic bacteria in such as Listeria and Salmonella food production environments. Bio-Fence’s observes that its technology effectiveness has been proven in laboratories under International Standard ISO 22196 and in food sites in Israel and worldwide. With the outbreak of COVID-19, the startup also revealed that its antimicrobial coating technology has also proven to be effective in killing viruses, and therefore can create immediate and long-lasting bacteria and…

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Coca-Cola’s revenues decline as the business environment proves challenging

USA – The Coca-Cola Company has reported a 1% decline in net revenues during the first quarter 2020 to US$8.6 billion, becoming the latest multinational to suffer from the economic challenges resulting from the Covid-19 pandemic. The company reported an even price/mix growth for the quarter primarily due to unfavorable channel and category mix in key markets impacted by the coronavirus outbreak while its unit case volume declined 1%, as solid growth in North America was more than offset by a decline in Asia Pacific. Coca-Cola’s sparkling soft drinks declined…

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Phatisa and partners acquire Malawian agricultural solutions provider

MALAWI – Phatisa Food Fund 2 (PFF 2) and a group of co-investors, Norfund, Mbuyu Capital and DEG have acquired Southern African integrated agricultural solutions provider, Farming and Engineering Services Limited (FES). FES, established in Malawi in 1967, caters for a broad customer base of commercial and emerging farmers. The investment will support FES’s long term growth strategy, assisting the company to expand its successful business model to neighbouring countries. Mike Aldworth, Group Managing Director of FES, commenting on the acquisition stated, “This transaction is a vote of confidence in…

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