Unilever tea brand Tazo launches new blends as it releases its Q2 financials

UK – Unilever, a consumer-packaged foods firm, has announced that its tea brand Tazo is set to launch new blends, including alcohol-free tea concentrates and ‘energy management’ tea bags. Tazo’s mixology concentrates come in Berry Hibiscus Margarita, with strawberry, hibiscus and lime and Ginger Lime Moscow Mule, with green tea, lime juice and a kick of ginger. According to the Washington-based brand, the concentrates can be mixed with water or seltzer to make a flavourful tea-based mocktail or cocktail. Tazo has also released two tea blends which it says help in…

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Kraft Heinz to invest US$57.6m in Egypt in the next 5 years to expand market share

EGYPT – Kraft Heinz, multinational food company headquartered in the United States is seeking to inject more than LE 920 million (US$57.6m) worth of investments in Egypt in the coming five years. This was revealed by Chairman and Managing Director of Kraft Heinz Egypt, Hanny Elmessiry, as the Executive Director of the General Authority for Investment and Free Zones (GAFI) Mohamed Abd El-Wahab reviewed the company’s investment plan. According to reports by Egypt Today, the plan includes establishing 14 new production lines to meet local demand and increase exports. The…

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Twelve African entrepreneurs among 21 finalists in the nutrition pitch competition for African and Asian SMEs

AFRICA – The Global Scaling Up Nutrition (SUN) Pitch Competition 2020, organised by the SUN Business Network (SBN), seeking to scale innovative approaches to bring improved nutrition to low income consumers in emerging markets, has selected Twelve African entrepreneurs among 21 finalists. As the COVID-19 pandemic presents unprecedented challenges to the food system, the pitch competition, to take place on 30th July 2020, will highlight the innovation and investment opportunities within the private sector to increase access to nutrition in low- and middle-income markets. According to the organizers of the…

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Kenyan county receives coffee milling machine from South Korean investor to boost production

KENYA – Baringo County, located west of Kenya has received a coffee milling machine worth ksh.100 million (US$927,500), financed by a South Korean investor Rev. Cha Bo Yong, aimed to boost production and processing of the cash crop. The milling machine will be installed in the county’s coffee processing factory that is currently under construction and set for completion by mid-September. According to reports by Kenyan News Agency, it will have an average milling capacity of 10 tons of coffee per day and 200 tonnes a month. The machine is…

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South Africa’s Sundale Dairy forms US$4.25m JV with cheese processor Schreiber

SOUTH AFRICA – South African dairy processor, Sundale Dairy has formed a joint venture with International cheese processor Schreiber Foods, investing R70 million (US$4.25m) in the construction of a new cheese processing factory in August at the East London Industrial Development Zone, southeast coast of South Africa. The investment according to Money Web, will see production of local cheese for quick serve restaurants, delivering 7 000 tonnes of preservative-free cheese slices to the African market per annum. Sundale Dairy currently supplies Burger King and McDonald’s South Africa with imported cheese…

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All systems go for Tuskys recapitalization efforts as shareholders give unanimous approval

KENYA – The Board of Directors of Tusker Mattresses limited (TML) commonly referred to as Tuskys Supermarket have approved the ongoing strategic investor sourcing efforts, which will see injection of fresh capital into its operations to offset debts. Tuskys is seeking to sell a majority stake to a consortium made up of a private equity firm and an undisclosed foreign retailer as part of efforts to raise cash to pay suppliers and resolve its financial troubles. “The Orakam Shareholders provided their nod to the acquisition of a majority stake in…

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Ukrainian grain trader Nibulon secures US$27m loan from EBRD to maintain its business

UKRAINE – The European Bank for Reconstruction and Development (EBRD) has provided a loan of up to US$27 million to Nibulon, Ukrainian agricultural company specializing in production and export of grains, to maintain the volume of trade operations amid the COVID-19 pandemic. “The funding will meet the working capital needs for purchasing, processing, storing, transporting and exporting agricultural products,” EBRD Senior Advisor for External Affairs Anton Usov said on Facebook. The financing is part of the EBRD Solidarity Package, which focuses on ensuring continuity of key businesses and services threatened by…

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Indian producer of Amul dairy brands reports a 17% increase in full year sales

INDIA – Indian dairy cooperative, Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets the popular Amul brand of milk and dairy products has registered a 17% increase in its sales turnover to Rs. 385.42 billion (US$5.1b) in the financial year ended 31st March 2020. According to the cooperative press-release, the group turnover of GCMMF and its constituent member unions, representing consolidated turnover of all products sold under Amul brand exceeded Rs. 520 billion (US$7b). GCMMF aims to achieve a group business turnover of Rs. 1 trillion (US$13.35b) by 2024-25. Amul…

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Agritech company Lentera Africa partners with Mauritian fertilizer manufacturer to expand its business

MAURITIUS – The Mauritius Chemical and Fertilizer Industry (MCFI), one of Africa’s oldest fertilizer manufacturer, and Lentera Africa, a Kenyan AgriTech company, have signed a partnership that will see Lentera provide satellite-based crop health analysis and crop modelling services for Mauritian customers of MCFI. “This is an exciting collaboration for us. We believe in working with upcoming and talented African enterprises like Lentera Africa to transform agriculture in our home country and in Africa and deliver real value to farmers through satellite and mobile technology,” said Dheer Roy, Business Development Manager,…

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CHI Limited supports CBN’s backward integration program to boost country’s dairy industry

NIGERIA – CHI Limited, Nigeria’s fast-moving consumer good company with investment in the dairy industry, is set to undertake massive infrastructural developments of facilities at the Bobi Grazing Reserve in Niger State. The investment will involve upgrade of the existing facilities and construction of new ones in a bid to boost milk in the country. The project is under the livestock development initiative by the Niger state in partnership with the Central Bank of Nigeria. It is in line with CBN’s policy aimed to discourage the importation of dairy products…

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