UK food delivery giant Deliveroo to float on London Stock Exchange despite making losses

UK – British food delivery firm Deliveroo has announced plans to go public with a possible listing in the London Stock Exchange before the end of April this year. The hotly anticipated IPO is expected to value Deliveroo at more than US$7 billion, based on a private funding round it completed in January. If successful, Deliveroo’s IPO will be one of the largest London listings in several years. The company is planning to go live after recording a 64% surge in business during the COVID-19 pandemic. It has already published…

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Indian investor to inject US$1m in establishment of agriculture centered university in Zambia

ZAMBIA – Zambia is set to welcome a specialised agriculture university, to be constructed by the Director of an Indian company Banyan Impex Private Limited, J.M. Patel. This was revealed by Zambia’s High Commissioner to India, Judith Kapijimpanga who indicated the institution will be built at an initial cost of US$1 million. According to reports by Lusaka Times, Mr. Patel is scheduled to travel to Zambia on March 15, 2021 with a view of starting the registration process of the investment. The planned institution will join Texila American University Lusaka,…

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Grüninger develops new technology to produce palm-free vegan margarine

SWITZERLAND – Replacing solid palm fat with alternative oils in margarines will now become possible thanks to a new technology developed by leading Swiss producer of industrial and commercial margarines Grüninger AG. According to the company, the new technology makes it possible to produce palm-free, vegan and vegetarian margarines in which any off-note flavours are effectively taste-masked. The new technology is centred on a natural rosemary extract-derived antioxidant that extends the products’ shelf-life and increases heat stability during baking. Employed to overcome common hurdles that arise when replacing solid palm…

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On-demand mobility platform Bolt expands food delivery services to Nigeria

NIGERIA – Bolt, an Estonian ride-hailing company is venturing into the food delivery business in Nigeria, bringing competition to the door step of companies like Jumia Foods and GoKada. This was made known as a job position advertisement on the company’s website stating, “We are launching our new food delivery service and we are looking for a Restaurant Sales Manager who can help in establishing partnerships with local businesses.” Since the onset of the COVID-19 pandemic, many businesses have ventured into or expanded their food delivery services in Nigeria. Gokada…

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Oatly to build plant-based oat drinks factory in UK as Arla Foods proposes closure of creamery site

UK – Swedish vegan brand Oatly has unveiled plans for a new plant-based dairy manufacturing plant in Peterborough at a time when Arla Foods is contemplating closure of its Trevarrian Creamery in Cornwall. For Oatly, the facility which is expected to be completed in early 2023 and create over 200 jobs would be its first in the United Kingdom. The company has partnered with food and drink capital investment firm Integrated Food Projects to build its new facility. The facility,accordin to the Swedish company, will be able to produce 300…

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Nigerian manufacturing major Mamuda Group commences operations on newly built confectionary factory

NIGERIA – Mamuda Group, one of Nigeria’s leading manufacturing company has inaugurated its multi-billion Naira confectionery factory, under its subsidiary Mamuda Foods Company. The factory built in Kano State will undertake production of biscuits and chocolates, promoting local manufacturing. According to an insider’s report, Bosch Thermotechnology, the leading manufacturer of energy-efficient heating products, provided the firm with a 3-ton boiler. For its energy requirements, Mamuda is leveraging on its recently launched 22.5 megawatts gas power plant. The powerplant has an installed cryogenic storage tank with a capacity of 110M and…

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Heineken appoints Harold van den Broek to succeed Laurence Debroux as CFO

NETHERLANDS – Dutch multinational brewing company Heineken has appointed career finance expert Harold van den Broek to be the company’s new Chief Finance Officer . Harold will be succeeding Laurence Debroux who will be stepping down as the brewing giant’s CFO, after the company’s annual general meeting of shareholders (AGM) on 22 April 2021. As she departs, Debroux had a successful 6 year stint at the multinational brewer. She played a key role in steering the company through the Covid-19 crisis and shaping EverGreen- Heineken’s strategic direction exploring how to…

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Conagra in talks to sell brands worth US$700m to US beef processor JBS

US – Consumer Packaged Goods giant Conagra Brands may sell Hebrew National hotdog brand  to beef processor JBS as part of a deal worth around US$700 million, The Wall Street Journal has reported According to a report by WSJ, the transaction could also include other brands like Egg Beaters and Odom’s Tennessee Pride. The talks are however non-binding and Conagra could end up keeping the business or choose to sell it to another company. In recent months Conagra has turned to pruning its portfolio to focus on its signature frozen…

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Tanzania Breweries Limited launches temporary logo change of Konyagi brand in recognition of women’s prowess

Company name: Tanzania Breweries Limited Product type: Spirit Innovation: Brand identity change Tanzania Breweries Limited, one of East Africa’s leading distillers has temporarily changed the brand identity of its Konyagi spirit brand, by inscribing a logo of a woman with raised hands as part of the company’s recognition of women’s effort in transforming the society. The image which show-cases women’s bravery is a switch from an earlier logo of a man raising his hands, accompanied by a message wishing all women a happy international women’s day.

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Ugandan dairy processor Pearl Dairy nears completion of honey processing factory

UGANDA – Pearl Dairy Farms, Uganda’s largest dairy processor has revealed that its honey processing facility is 90% complete and will be commissioned beginning of April. The producer of Lato Milk brand announced its diversification from the dairy industry last year, revealing that it will invest more than Ush10 bn (US$2.7m) into commercial honey production. The move is in a bid to create an additional revenue stream, given the challenges that are facing the country’s milk sector of not accessing most East Africa Community markets. The program is also undertaken…

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