Tanzania, IFAD launch US$77.4m project to boost productivity, build resilience of small-scale farmers

TANZANIA – The Government of the United Republic of Tanzania and the International Fund for Agricultural Development (IFAD) have inked a US$77.4 million project aimed to help rural households facing the impacts of climate change. The Agriculture and Fisheries Development Programme (AFDP) will provide the means for rural people to boost productivity, improve food security and nutrition, and increase their resilience. To implement this project, IFAD is providing a US$58.8 million loan with the government dishing out US$7.7 million. A further US$8.4 million will be contributed by the private sector…

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Hapag-Lloyd offers better connectivity between East Africa, Asia with launch of new westbound voyage service EAS3

EAST AFRICA – Hapag-Lloyd, a German shipping company mainly transporting agricultural goods out of Africa is set to launch a new service in East Africa dubbed East Africa Service 3 (EAS3).  The new service featuring Seven 2,800 TEU vessels is aimed to offer better connectivity between Asia and the East Africa region. According to the logistic company EAS3 will arrive for the first time in Kenya and Tanzania and offer direct weekly sailings to and from China and South-East Asia. In addition, it will leverage on Hapag-Lloyd’s global network via…

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Ivory Coast, Ghana strengthens cocoa alliance to safeguard sector priorities

WEST AFRICA – Ivory Coast and Ghana, the two West African nations who together produce more than 60% of the world’s cocoa, have pledged to further strengthen and expand the existing economic relations on cocoa and other related matters between their respective countries. In August 2020, the two countries formed the Ivory Coast-Ghana Cocoa Initiative (ICCIG) aimed to promote their cocoa industries internationally and defend their collective position in the global market. To that end, the two countries are expected to expedite action on the setting up of a permanent…

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Ugandan Yo Kuku chicken brand owner to bag US$7m from IFC to spearhead expansion plan

UGANDA – HMH Rainbow Ltd, a producer of fresh and frozen chicken in East Africa under the brand name Yo Kuku, is eyeing financial backing from the private-sector investment arm of the World Bank, International Finance Corporation (IFC) to support its expansion plan. HMH Rainbow headquartered in Uganda is a joint venture between Ugandan businessman Alykhan Hudani (66.5% stake) and Rainbow Farms Investments Proprietary Ltd (33.5% shareholding). Rainbow Farms is a wholly owned subsidiary of RCL Foods Ltd, a publicly listed South African food manufacturer. The poultry company seeks to…

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Heineken South Africa announces retirement of current CEO, yet to find successor

SOUTH AFRICA – Heineken South Africa has announced the retirement of its Managing Director, Gerrit van Loo, almost three years after he took over the helm of the company. According to reports by Fin24, Van Loo is set to take an early retirement to spend time on personal pursuits and with his family. “We would like to thank Gerrit for strong tenure at the business, during which he has kept the company on a growth path through a tumultuous time for the liquor industry and while facing numerous operational challenges…

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