Nigeria secures US$700m from IDA for water, sanitation project while French company Vergnet Hydro to rehabilitate 1,000 boreholes in Ivory Coast

NIGERIA – The West African nations of Nigeria and Ivory Coast are currently ploughing in funds to finance water and sanitation projects in their communities. In Nigeria, the International Development Association (IDA), a subsidiary of the World Bank, has granted the region’s most populous country, a US$700 million loan for implementation of its Sustainable Urban and Rural Water Supply, Sanitation and Hygiene (Surwash) Programme. The loan will finance access to water, sanitation and hygiene (WASH) for 6 million people, mainly in rural areas and small towns. The World Bank funding…

Read More

Argentina’s milk production to rise to 11.58m tons in MY2021 as producers ramp up production to offset low margins

ARGENTINA – Milk production in Argentina is projected to rise 1.1% during the 2021 Market Year (MY) as producers increase production to offset negative margins caused by rising feed costs and domestic price controls. According to recently released data by USDA, milk production in the South American nation is projected at 11.58 million tons, an increase of 1.1% over revised MY 2020 production levels. Fluid Milk is projected to amount to 11,575,000 metric tons of fluid milk, an increase of 130,000 tons or 1.1% above revised 2020 production. Consumption of…

Read More

IFAD, EU invest US$32m in Ethiopian rural financial institutions to support agriculture sector mitigate pandemic effects

ETHIOPIA – The Development Bank of Ethiopia (DBE) is set to receive a EUR13.8 million (US$16.84m) grant from the International Fund for Agricultural Development (IFAD), and an additional EUR12.7 million (US$15.49m) support from the European Union (EU), to improve its liquidity and support to rural financial institutions (RFIs). The financing, according to IFAD, will enable the RFIs to help their MSME clients retain workers in employment, reduce the interest cost of credit, provide support to farmers facing challenges meeting their contract farming arrangements, absorb the penalty on defaulted loan repayments,…

Read More

Consumers demand for greater transparency in food labelling intensifies amid covid-19 pandemic

GLOBAL – Transparency is emerging as one of the top trends for 2021 as more and more consumers become increasingly concerned about the composition of the foods they get off supermarket shelves. An Innova Consumer Survey indicates that 85 percent of consumers globally say information on what is in their food is of major importance to them. Similarly, 59 percent want to know where their food comes from and how it is made. According to the survey, interest in transparency was found to be highest in emerging markets, most likely…

Read More

Zambia’s agriculture industry gets US$80m boost from Chinese firm Zhong Yang Eco-Agriculture Industry Park

ZAMBIA – Chinese firm, Zhong Yang Eco-Agriculture Industry Park, has signed a US$80 million Investment Promotion and Protection Agreement (IPPA) with the Zambia Development Agency (ZDA), aimed at enhancing investment cooperation between the two parties. The agricultural firm’s focus is in commercial seed production, animal husbandry, and fish farming. ZDA board chairperson David Masupa noted that the US$80 million five-year planned investment in the agriculture sector, will go a long way in contributing to the country’s Gross Domestic Product (GDP), reports Lusaka Times. He assured Zhong yang Eco-Agriculture industry park…

Read More

New global incubation program launched to support start-ups disrupting the milk value chain

SPAIN – The global alternative dairy industry has received a major boost in the form of a dedicated accelerator program for supporting start-ups disrupting the milk value chain. The program, Mylkcubator, is being championed by Spanish dairy specialist Pascual and will be run by the group’s new Corporate Venture unit, Pascual Innoventures. The program aims to recruit ten startups, entrepreneurs or scientific projects, with innovative dairy solutions within the following spaces: cell-based, fermentation based and applied technologies. “The goal is to identify those startups that can create cell-based milk with…

Read More

Flour Mills of Nigeria expands investment in Nigeria’s sugar industry as Shell Nigeria ventures into cassava processing

NIGERIA – Flour Mills of Nigeria Plc (FMN), has announced the acquisition of 20,450 hectares of land in Nasarawa State, to boost the backward integration strategy (BIP) of the National Sugar Master Plan, as leading energy company, Shell Nigeria, inaugurates a multi-billion-naira cassava processing facility in Rivers State. The move by the integrated food business and agro-allied company, FMN, is part of its commitment to the overall growth strategy of the sugar industry in the country. This follows the company’s recent acquisition of an additional 5,200 hectares of land in…

Read More

Nampak turns to profitability courtesy of business restructuring move

SOUTH AFRICA – Nampak, Africa’s largest diversified packaging manufacturer, has recorded impressive results in the six months ended March 31, despite the ongoing restrictions on trading caused by the Covid-19 pandemic. The can maker’s headline earnings per share (HEPS) for the first half year period, has jump significantly to 17.6c, from 0.3c registered in the corresponding period in 2020. Growth in the group profitability was driven by its strategy to simplify and optimise operations, coupled with working capital management and prudent capital expenditure, which resulted in substantially improved cash generation.…

Read More

UK retailer Tesco collaborates with Beyond Meat to launch new ready meal range

UK – Tesco, one of the largest grocery retailers in the United Kingdom, has collaborated with alternative protein company Beyond Meat  to launch a new line of frozen ready meals in the UK. The new line is comprised of four meals which include Korean Inspired Bowl, Naked Burrito, Bangin’ Biryani, and Cowboy Chilli. The meals are under Tesco’s exclusive plant-based Wicked Kitchen range and will be created using plant-based meat alternatives from Beyond Meat. This is the first time Beyond Meat, which is known for its restaurant-quality vegan food, has…

Read More

Robertet bolsters natural flavours portfolio with acquisition of Ecom Food Industries

CANADA – Robertet, a French flavours and fragrance firm backed by Firmenich, has acquired Ecom Food Industries, a North American manufacturer of speciality natural flavours and extracts, for an undisclosed sum. Ecom is based in Toronto, Canada and manufacturers antioxidants, natural colours, flavour enhancers, extracts and blends for the food and beverage, health, nutraceutical and cosmetic industries. The company’s diverse portfolio can be used for applications such as snacks, processed meats and bakery products. Its acquisition will therefore complement Robertet’s rich portfolio of Natural raw materials, flavours, and active ingredients.…

Read More