Singapore pushes food innovation limits becoming the first country to approve lab grown meat

SINGAPORE – Singapore, a sovereign island city-state in maritime Southeast Asia and one of the most progressive countries when it comes to embracing food innovations, has allowed the sale of lab grown meat, becoming the first country in the world to do so. With the approval given, Eat Just Inc., a maker of meat and egg substitutes, now has the go ahead to sell its laboratory-created chicken to Singaporean consumers. The product, created from animal cells without the slaughter of any chickens, will debut in Singapore under the GOOD Meat…

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Carrefour Kenya ventures into Coastal Kenya opening a new store

KENYA – French retailer Carrefour, has made a debut in Kenya’s second largest city, Mombasa with the opening of its 9th store. The new store is located at City Mall in Nyali, where South African retailer Shoprite was the anchor tenant, prior to embarking on its plan of exiting the Kenyan market. With over 2,000 square meters of selling area, the new supermarket will be home to a variety of quality products to address the immediate shopping needs of customers who live, work and vacation within Mombasa and its surrounding…

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Alibaba, Jeneration Capital lead US$196m series C funding for Chinese food produce platform Nice Tuan

CHINA – Chinese multinational technology company Alibaba, and Hong-Kong based investment company Jeneration Capital have co-led a “Series C3” for Nice Tuan, a Chinese group-buying platform for farm produce and other groceries. Nice Tuan’s series C funding was also participated in by other investors including CDH Investments, CICC, Cygnus Equity, GGV Capital, INCE Capital, Joy Capital, KunLun Fund, and Qiming Venture Partners. Beijing-based Nice Tuan connects farmers and other food producers to retailers, foodservice businesses, and end customers. The company allows buyers to form groups via its WeChat mini-program, enabling…

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Ethiopia seeks a transaction advisor to oversee privatization plan of its sugar factories

ETHIOPIA – The government of Ethiopia is forging on with its plan of privatizing state-owned sugar factories that are operational or under construction as it seeks to enhance efficiency and improve productivity. According to reports by Addis Fortune, the Public Enterprise Holding & Administration Agency is seeking to hire a consultancy firm that will oversee the transaction. To this end, the agency has invited consultancy firms to file their expressions of interest in undertaking the job before December 11, 2020. The bidders are expected to have not less that 5-years…

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Danish Crown to invest US$322m in modernization of meat processing factories

DENMARK – Europe’s largest pork producer Danish Crown has announced an investment of around DKK 2 billion ($322 million) in the coming year in modernization of its factories in Denmark and Germany. With a primary focus on automation, the capital will be used to further improve working conditions, as well as future-proof production. Its pork business which accounts its largest share of revenue will receive the largest share of the US$322 million investments, according to a report by FoodBev. The investment which is about 25% higher than the company’s budget…

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Nampak’s full year revenue feels the pinch of COVID-19 falling by 23%

SOUTH AFRICA – Africa’s largest diversified packaging manufacturer, Nampak has suffered a R4.3 billion (US$280.5m) full year loss impacted by reduced economic activity across all geographies due to COVID-19, coupled with an already weak economic climate and pressure on consumers’ disposable income. The company’s group revenue for the year ended September 2020 was down 23% to R11.3 billion (US$737m), with an overall decline of 28% in the Metal division, 6% in Plastics and 10% in Paper. In response to the decline in revenue as consumer demand fell sharply, Nampak undertook…

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USA key soybean stakeholders partner to develop Soy Excellence Centres in Africa

NIGERIA – The demand for animal protein sources in Africa is projected to more than quadruple by 2050, attributed to the rising population and change in consumer eating habits with a preference for high protein source products such as meat, poultry, fish and eggs. This presents lucrative opportunities for growth of the budding animal feed manufacturing industry in the region which registered a 7.5% increase in production in 2019 according to the latest Alltech Global Feed Survey, recording 43.7 million metric tonnes (MMT). Despite the rise in production, the animal…

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