African Development Bank names winners of US$120K AgriPitch competition

AFRICA – The African Development Bank has crowned the founder of a cassava processing business in Kenya, co-founder of a novel food processing technology start-up, and the owner of a smallholder farmer food procurement company both from Nigeria as the winners of the US$120,000 AgriPitch competition. The winners were selected in the early start-up, mature start-up and women-empowered businesses categories. Nigeria’s Femu Aiki clinched US$40,000, the largest portion of the seed capital under mature start-ups category with his farm Foodlocker. Foodlocker supports smallholder farmers with technologies for the production of…

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US milling conglomerate Grain Craft appoints Pete Frederick as CEO

US – America’s largest independent flour miller Grain Craft has appointed Pete Frederick President and chief executive officer (CEO), effective immediately. As president and CEO, Frederick will be responsible for setting and directing the company’s strategic and financial goals while providing visionary leadership for growth. Frederick has held the position of president since Grain Craft was established in 2014 following the merger between Milner Milling, Pendleton Flour Mills and Cereal Food Processors, Inc. Federick takes helm of America’s largest independent milling facility at a time when it is working to…

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Agricultural commoditites trader ADM partners InnovaFeed to build US insect protein plant

US – Archer Daniels Midland, one of the world’s largest trader of agricultural commodities, in collaboration with InnovaFeed has unveiled plans to build a new insect protein facility in Decatur, Illinois, US. According to a statement from ADM, the new facility whose construction is targeted to begin in 2021 pending necessary permitting and approvals, will produce insect feed as a protein ingredient in animal feed. Once completed, the plant will have a target annual production capacity of 60,000 tonnes of animal feed protein derived from Hermetia Illucens. The plant will…

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IFC partners Agricultural bank of Egypt to help farmers access financing for solar irrigation

EGYPT – IFC, a member of the World Bank Group, and the Agricultural bank of Egypt (ABE) announced a partnership to help Egyptian farmers access financing for purchase of solar irrigation systems, reducing their reliance on diesel-powered generators. Through the partnership, IFC will help ABE build capacity and design new financial products to enable farmers, most of whom lack direct access to grid electricity, to purchase and install the sustainably powered facilities. This is aimed to reduce production cost, provide clean energy while boosting productivity. “Expanding the use of solar…

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US online grocer Farmstead raises US$7.9 million to expand ecommerce platform

US – Farmstead, a fast-rising US online grocery store has raised US$7.9 million in a Series A funding round backed by Aidenlair Capital, in an effort to accelerate its national expansion. The latest round which featured investors such as Y Combinator, Duro, Maple VC, Heron Rock and Red Dog Capital  brings its total funding to date to US$14.5 million. According to Farmstead, its business has grown “swiftly” in 2020 amid the pandemic prompting the startup to start focusing on securing more partnerships with grocery chains, increasing its delivery capacity and…

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Nestle Zimbabwe ploughs US$2.5m into new cereal production line

ZIMBABWE – Nestle Zimbabwe has inaugurated US$2.5m cereals manufacturing line, aimed to boost operations to meet local demand and exports. The expansion, according to The Herald, will result in over 30% incremental volume through put as the food and beverages concern expands capacity, targeting to triple its US$400,000 monthly exports in the medium term. Officiating at the launch of the new line, Industry and Commerce Minister Dr Sekai Nzenza, said the investment by the food company will go a long way in expediting the country’s industrialisation strategy. “I would like…

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Food ingredients company Kerry Group names Thomas Ahlinder new CEO for European taste and nutrition business

EUROPE – World’s leading taste and nutrition company Kerry Group has announced the appointment of Thomas Hahlin Ahlinder as president and CEO of its European taste and nutrition business. Hahlin Ahlinder who most recently served as an executive board member at ingredients company Döhler succeeds Malcolm Sheil who has been appointed to the new role of chief commercial officer. Hahlin Ahlinder has also previously held roles with Danisco and DuPont Nutrition and Health. Kerry says he has a ‘strong network’ of customer relationships within the taste, nutrition and health marketplace,…

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Egyptian agribusiness company Cairo 3A to invest US$448.6m in poultry industry

EGYPT – Cairo 3A, an integrated agri-commodity trader and manufacturer in Egypt is seeking to invest EGP 7 billion (US$448.67m) in a vertically integrated poultry project in the next three years. According to reports by Enterprise, the project aims to encourage investment in remote desert areas to include all stages of the industry starting from poultry breeding to processing. Through the new development, the company plans to attain production of 200 million chickens on an annual basis. The first stage of the investment plan includes EGP 2.5 billion (US$160.2m), with…

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Peter Brown to succeed Darwin Sand as CEO of pork processing giant Seaboard Foods

US- American multinational agribusiness conglomerate, Seaboard Corporation has announced the appointment of Peter Brown as president and CEO of its pork division: Seaboard Foods. According to a statement from Seaboard Corporation, Brown will succeed Darwin ‘Duke’ Sand who will be retiring, effective 1 January 2021. In his new role, Mr. Brown will be responsible for all of Seaboard Foods’ operations, focusing on executing the company’s strategic priorities by working with Seaboard Corp.’s leadership and customers achieving data-driven results. He will also be responsible for steering Seaboard Foods’ culture of inclusion…

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Hake fishery in Namibia attains globally recognised sustainable fishing standard

NAMIBIA – Namibia has received the first Marine Stewardship Council certification for its hake trawl and longline fishery, becoming the second country in Africa to meet the globally recognised standard for fishing. The certification is undertaken by the Marine Stewardship Council (MSC), an international non-profit organisation which sets science-based standard for sustainable fishing and seafood traceability. The council works with fisheries around the world to combat overfishing, supporting those that are small scale or in the Global South with tools and expertise as they work towards certification to the MSC…

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