Tuskys plan seeking strategic partner met with set back following shareholders wrangles

KENYA – Following Tuskys Supermarket’s plan of seeking a strategic investor to inject capital into its operations, a fresh round of fallout among the siblings who own the retail chain has emerged threatening the plan. Tuskys is planning to sale the business’s majority stake to a consortium made up of a private equity firm and an undisclosed foreign retailer in a bid to offset its debts. This was revealed in a letter by the Competition Authority of Kenya (CAK), committing that if the retailer opts to seek a strategic investor,…

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Nestlé launches new range of YES! snack bars

SWITZERLAND – Nestlé, the world’s largest food and beverage company, has launched a new range of its YES! snack bars, with each bar containing 10 grams of plant protein from a delicious natural combination of nuts and peas. The new YES! bar gives consumers power on the go. Like other YES! bars, the new protein bars are made of wholesome ingredients, are high in fiber, use no artificial colors or preservatives, are gluten free and suitable for vegetarians. “We know that today people are living healthy active lifestyles and are looking for the right…

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Tomra Food opens regional headquarters for Latin America to enhance support of food processors

CHILE – Belgian-based Tomra Food, a manufacture of sensor-based sorting machines and post-harvest solutions for the food industry, has opened new regional headquarters in Chile, in an effort to enhance its support of food processors and packers across Latin America. Located in Santiago, the new 810 square-metre building enables Tomra Food and its two sister companies, Compac and BBC Technologies to strengthen their presence and customer support provided in the region. The two-story building includes a customer experience centre and regional training hub which enables tests and demonstrations to take place.…

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Ball Corporation signs virtual power purchase agreements strengthening renewable energy goals

EUROPE – Ball Corporation, a provider of sustainable packaging solutions for beverage and food industry, has announced that it has executed two virtual power purchase agreements (VPPAs) in Europe – one for the Corral Nuevo project in Spain with wpd and one for the Brattmyrliden project in Sweden with Falck Renewables – for a total of 93.4 megawatts (MW) of additional wind energy. These agreements are a testament to Ball’s long-term commitment to achieve and maintain 100% renewable energy in Europe and will allow the company to address approximately 63%…

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Uganda’s sugar sector grapples with stockpile amidst dwindling export market

UGANDA – According to Uganda Sugar Manufacturers Association, Uganda is currently grappling with stockpiles of about 150,000 tonnes of Sugar following a number of hiccups hindering the export market especially in the East Africa Community. Uganda produces 510,000 tonnes of sugar with its biggest producers to include Kakira Sugar Works with an annual production of 180,000 tonnes, Kinyara Sugar Works produces 120,000 tonnes and Sugar Corporation of Uganda Limited produces about 100,000 tones. From the production 360,000 tonnes are consumed locally with the surplus which has now grown to 170,000…

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Cadbury Nigeria Plc appoints Adedotun Sulaiman as new board chairman

NIGERIA – West Africa’s snack manufacturing giant, Cadbury Nigeria Plc has announced the appointment of Mr. Adedotun Sulaiman, as the new Chairman of its Board of Directors, effective immediately. Mr. Sulaiman, will replace Mr Atedo Peterside who stepped down as Board chairman on June, this year. Mr. Sulaiman assumes Cadbury Nigeria’s Board leadership with almost 40-years’ experience in strategic plan development, organisation design, human resource management, technology planning and process re-engineering. The renowned management and strategy consultant was first appointed into the Board of Cadbury Nigeria Plc as a Non-Executive Director…

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Choppies releases the anticipated 2019 audited results alongside its interim financials

BOTSWANA – Botswana based retailer, Choppies Supermarket has finally released its long awaited audited financial results for the year end-June 2019, citing the changing of its auditors when PricewaterhouseCoopers (PwC) resigned in September 2019 and replaced by Mazars in February 2020, as the reason for the delaying in publication. The group also faced legal and forensic investigations as well as the COVID -19 outbreak and the lock-downs in the countries it operates which added to the hold up of results, highlighted the company. According to the company, its revenue for…

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Government of Nigeria, IFAD, OLAM to inject US$329m to enhance country’s rice value chain

NIGERIA — The Federal government of Nigeria in partnership with the global food and agribusiness giant, Olam and the International Fund for Agricultural Development (IFAD) have budgeted US$329 million (N118.44 billion) for the Value Chain Development Programme (VCDP) in the country. The VCDP programme was launched in 2014 with the aim of generating wealth for smallholder farmers, thereby improving their livelihoods, while also enhancing food security in the country. The initiative provides inputs and training to smallholder rice farmers with guaranteed buy-back of between 80 to 90 per cent of…

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