Distell to register triple digit profit growth supported by improved performance across all markets

SOUTH AFRICA – Despite repeated bans on alcohol sales at his home market, Distell is expecting strong profit growth for the year to end-June. The owner of brands like Savanna, Hunter’s and Klipdrift, expects its headline earnings will jump by more than 230% to stand at between 735.6 cents and 782.7 cents, compared to the previous year’s 235.3 cents. This will also be almost 20% higher than in its HEPS of 2019 financial year, before the impact of the pandemic, which was 652.9 cents. According to the drink maker, the…

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Uganda securities exchange suspends Uchumi Supermarket’s trading on the bourse

UGANDA – Cash-strapped Kenyan headquartered retailer, Uchumi Supermarket, has been suspended from trading it shares on Uganda Stock Exchange’s main investment market segment and the listing of the company’s shares on the official list. According to a notice signed by the USE Chief Executive Officer Paul Bwiso, the suspension follows Uchumi’s failure to meet listing obligations. “The suspension is on account of Uchumi’s continued failure to comply with listing obligations prescribed under the USE Fees, Charges and Penalties Rules of 2021 and the USE Listing Rules of 2021, respectively,” indicated…

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Kenya’s leading meat processing company QMP Group set for growth following Tana Africa Capital’s investment

KENYA – Mauritius based holding company, Africa Protein Holdings Limited, owners of Quality Meat Packers Ltd and Anirita Poultry Farm Plc, have received backing from Africa-focused investment company, Tana Africa Capital. The leading Pan-African private equity firm has undertaken the equity investment through its second fund Tana Africa Capital II, acquiring a minority stake in the company for an undisclosed amount. The Velji family remain the majority owner of the business, with the support aimed to transform its Kenya based business, QMP Group, into a leading African meat processing company…

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