The Coca-Cola Company seeks to reorganize its business for future growth

USA – The Coca-Cola Company has announced that it will undertake strategic steps to reorganize and better enable the Coca-Cola system streamline its operations and drive more growth. The company will create nine new operating units focused on regional and local execution. Coca-Cola’s current model includes 17 business units that sit under four geographical segments, plus Global Ventures and Bottling Investments. Moving forward, the operational side of the business will consist of the new nine operating units that will sit under four geographical segments, along with Global Ventures and Bottling…

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Nestlé Health Science to acquire biopharmaceutical company Aimmune Therapeutics

USA – Aimmune Therapeutics Inc., a biopharmaceutical company developing and commercializing treatments for potentially life-threatening food allergies, has announced that it has entered into a definitive agreement for Sociétés des Produits Nestlé, S.A. to acquire all outstanding shares of Aimmune common stock that are not already owned by Nestlé Health Science (NHSc) for US$34.50 per share, including the shares of Aimmune held by NHSc, in an all-cash transaction. Sociétés des Produits Nestlé, S.A. is a part of Nestlé Health Science (NHSc) and a wholly owned subsidiary of Nestlé S.A. The agreement…

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On-demand delivery company Glovo appoints Priscilla Muhui as General Manager for Kenya

KENYA – Glovo, on-demand delivery start-up, has announced the appointment of Priscilla Muhiu as the General Manager for Kenya. Priscilla takes over from William Benthall who has been appointed Glovo’s General Manager for Sub-Saharan Africa. Glovo lauded the new General Manager on her passion for solving problems in Africa through technology. “Priscilla has a wealth of industry knowledge when it comes to growth hacking, market strategy development and business modelling. “She is also very passionate about solving problems in Africa through the use of innovative technologies,” read a statement. Priscilla brings…

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Bühler appoints CEO Stefan Scheiber to group’s board as Ruth Metzler announces resignation

SWITZERLAND – Swiss grain and food processing solutions provider, Bühler Group has elected the company’s CEO, Stefan Scheiber as a new board member with immediate effect. According to the company, Scheiber was unanimously elected as a new member of the Board of Directors of Bühler Holding AG at an extraordinary general shareholders’ meeting. Scheiber began his career at the Switzerland-headquartered company in 1986 and has spent more than 30 years undertaking different functions. From 1988, he has worked in various international management positions in multiple locations, including East and South…

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Kenya Marine and Fisheries Research Institute develops value added fish products

KENYA – In a bid to add value to Kenya’s fishing industry, the Kenya Marine and Fisheries Research Institute (KMFRI) has developed new products i.e. minced fish, fish samosa, fish sausages, fish fingers, fish gel, smoked fish and fish fillets. The new innovations will be rolled out to farmers through the Kenya Climate Smart Agriculture Project (KCSAP) in Siaya, Busia, Kakamega, Lamu, and Marsabit Counties, to promote fish farming as an income-generating venture and boost production which has dropped. KMFRI Sagana centre director Domitila Kyule also revealed that the institution…

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Kenyan government joins forces with underwriters offering farmers US$1.08m crop failure compensation

KENYA – The government of Kenya has partnered with six local underwriters in the Crop insurance programme (CIP) with international backing from Swiss Reinsurance Company, to release Sh117.5 million (US$1.08m) in compensation to 25,000 smallholder farmers in 28 counties for climate-related crop losses. The crop insurance programme is aimed at revolutionizing how Kenyans practice farming, involving local underwriters such as APA, Amaco, Jubilee, Geminia, Kenya Orient and CIC Group, reports Business Daily. According to Agriculture Cabinet Secretary Peter Munya, CIP is a serious endeavour where a farmer should be able…

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Guinness Nigeria full year profit after tax drops 329% impacted by COVID-19

NIGERIA – Diageo’s Nigerian operating unit, Guinness Nigeria Plc, has announced its audited results for the period ended 30 June, 2020 revealing a 329% decline in profit after tax at N12.57bn (US$32.6m) resulting from the significant impact of COVID-19 lockdowns and ongoing economic challenges. The audited results which were released to the Nigerian Stock Exchange (NSE) indicated that revenue decreased 21% to N104.376bn (US$270.97m) versus N131.49bn (US$341.37m) registered the prior period of 2019. Profit was impacted by a number of one-off accounting adjustments totaling N17.2bn (US$44.65m), as well as volume…

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Nestlé appoints Mauricio Alarcon to lead Central, West Africa region

WEST & CENTRAL AFRICA – Global food and beverage company, Nestlé has appointed Mauricio Alarcon as the new Chief Executive Officer of Nestlé Central and West Africa Ltd, effective September 1, 2020. Mr. Alarcon is a Mexican national with a Master’s degree in Engineering from the University of Manchester, United Kingdom. He worked in the banking sector before joining Nestlé Mexico in 1999 and has worked with the food giant in different regions at different capacities ever since. In 2004, he was appointed as Marketing Manager for the Ice Cream…

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