Nigerian spice exporter Agricorp gets US$17.5m from Vami, AFEX, One Capital for expansion

NIGERIA – Agricorp International, Nigerian based spices producing, processing, and exporting startup has raised US$17.5 million in Series A funding led by Vami Nigeria with US$11.5 million in equity. The fundraising round also attracted the participation of Nigeria’s leading commodity trader – AFEX, alongside One Capital LLC, who provided working capital financing for the company. The investment, according to Agricorp will be channelled towards expanding its processing capacity to 7,000 metric tonnes, set up regional sales operations in South Africa and East Africa, acquire certifications for food safety and hygiene,…

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Glovo plans to double investment in Africa in next 12 months, eyeing larger market share

AFRICA – Glovo, on demand Spanish delivery platform, is seeking to expand its operations in Africa, its leading region for growth accounting for 30% of its geographical footprint. To spearhead the growth, the delivery start-up has unveiled plans of doubling its existing investment in the region to 50 million euros (US$59.3 million) over the next 12 months. So far, the Barcelona-based company has invested up to €25 million (US$30 million) by bringing its delivery service to six African countries — Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire and Nigeria, reports Techcrunch.…

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Niall FitzGerald to Chair Olam Food Ingredients’ Board of Directors

SINGAPORE – Olam International Limited has appointed Niall FitzGerald as the Chair of the Board of Directors for its operating group, Olam Food Ingredients (“OFI”), effective 9 September 2021.   OFI was created in early 2020 following the announcement of the re-organization of Olam to unlock and maximize its long-term value.   FitzGerald’s appointment comes as OFI seeks a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in H1 2022.   Niall FitzGerald commented: “It is an honour to be invited by the Olam…

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Impossible Chicken Nuggets debuts in US restaurants as USDA seeks comments on labeling of cell-based meat

US – Plant-based Impossible Chicken Nuggets have made their first debut in the US consumer market, launching in some restaurants across the United States as the company gears up for  a retail distribution later this month.  The nuggets are soy-based with sunflower oil, and do not use any of Impossible Foods’ plant-based heme — the company’s signature ingredient that gives meat its distinctive taste.   Impossible Chicken Nuggets have 40% less saturated fat and 25% less sodium than animal-based chicken nuggets, the company says.   They also do not use titanium dioxide,…

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AQUAtap Oasis Partnership SARL collaborates with Orange DRC to pioneer digital distribution of clean water

DRC – AQUAtap Oasis Partnership SARL, a joint venture between Canadian Quest Water Global and Kalo Products SARL based in the Democratic Republic of the Congo, has partnered with telecommunication company, Orange DRC to foster an easier and reliable mode for the citizens to access clean water. Quest Water Global, is an innovative water technology company and developer of the fully automated, solar-powered AQUAtap water purification, desalination, and distribution technology. Under the partnership, Orange DRC will enhance AQUAtap Oasis’ ability to serve the DRC population in securing access to clean…

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Swiss milling technology supplier Swisca wins IAOM Best of Show Award for unique dampening system

USA – Swiss milling and technology start-up Swisca has won the coveted and prestigious Best of Show Award at the IAOM (International Association of Operative Millers) international milling trade fair in the United States.   Swisca emerged victorious for its unique dampening system that uses nozzles to spray the grain with fog of water at the very beginning of the processing chain in the mill.  Dampening is an important production process in a flour mill as the moisture it imparts to the grain ensures uniform grinding and high yield.   Industry experts acknowledge that…

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ICRISAT bags 2021 Africa Food Prize recognizing its efforts in driving food security across Africa

AFRICA – The 2021 Africa Food Prize has been award to the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), a CGIAR Research Center. CGIAR is a non-profit, non-political public international research organization that conducts agricultural research for development in Asia and sub-Saharan Africa with a wide array of partners throughout the world. The Africa Food Prize recognizes outstanding African individuals and institutions leading efforts in the transformation of Africa’s foods systems; promotion of sustainable agricultural practices; support for smallholder farmers to raise incomes; resilience in the wake of…

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Mengniu scores another sustainability win with move to recycled resin for packaging

CHINA – Chinese dairy giant Mengniu has partnered with packaging and materials science firm Dow to transition to the use of recycled resin shrink film for the secondary packaging of its dairy products.  According to a report by Food Navigator, the transition makes the Chinese dairy heavyweight the first firm in China’s domestic food industry to adopt recycled resin in packaging.  Speaking to Journalists, Mengniu Dairy Packaging R&D Director, Frank Wang said that the transition was in line with its vision to reduce its environmental impacts as part of its…

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High perishables, groceries sales drive Libstar’s half year revenue growth by 8.7%

SOUTH AFRICA – Libstar, one of South Africa’s leading Consumer Packaged Goods (CPG) manufacturers and distributors has reported an 8.7% rise in half year revenue to R5.1 billion (US$360m), boosted by growth from the food categories, which represent 93% of group revenue. The food category, comprising of perishables, groceries, snacks & confectionery and baking products, registered a revenue growth of 10.5%, benefiting from the much-improved food service channel demand and a resilient performance in the retail channel. The producer of Lancewood dairy brand and Finlar meat products, highlighted that revenue…

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