Food Business Africa

Indian dairy industry to expand by 11% in 2022 driven by increasing per capita consumption

Nov 11, 2021Nov 12, 2021 Editor

INDIA – The dairy industry in India is expected to grow by 9-11 percent in the 2021-22 financial year, driven by increasing per capita consumption of milk and milk products, according to a report by Icra. In the report, the investment information and credit rating agency highlighted revival in economic activities, changing dietary preferences due to rising urbanisation, and continued government support to the dairy industry as other factors driving growth. The report notes that industry expansion will be supported by domestic milk production increase of about 5-6 percent in the…

Coca-Cola names WPP as global marketing partner in a US$4B deal that got rival PepsiCo jittery

Nov 11, 2021Nov 11, 2021 Editor

USA – American multinational beverages company, Coca-Cola has named WPP as its global marketing network partner in a deal valued at US$4 billion. WPP, the world’s biggest advertising company, emerged victorious in one of the largest pitches of the year, which included America’s IPG, Japan’s Dentsu, and French communications company Publicis. Under the contract, WPP will handle Coca-Cola’s media in eight of its nine geographical operating units and the large majority of its creative work, WPP Chief Executive Mark Read said. “This is among our company’s greatest ever new business…

Zomato to invest US$1B over the next 2 years to accelerate growth of Indian startups

Nov 11, 2021Nov 11, 2021 Editor

INDIA – Indian multinational food delivery company, Zomato has announced plans to invest US$1 billion over the next two years to accelerate the growth of startups in India. To get the project started, the company has announced key investments in three companies — logistics aggregator Shiprocket, local shopping, and savings platform Magicpin, as well as fitness startup Cultfit, earlier known as Curefit. As part of the Cultfit investment, Zomato is in the process of selling fitness app Fitso to Curefit for US$50 million, a deal that will give the company a cumulative shareholding worth…

Shoprite doubles solar capacity, aims to power 25% of operations with renewable energy in five years

Nov 11, 2021Nov 11, 2021 Editor

SOUTH AFRICA – Africa’s leading retailer, Shoprite Group has added 22 new solar PV (photovoltaic) sites between February and September 2021, more than doubling its solar capacity, as it aims to power 25% of its operations with renewable energy over the next five years. The development is in line with the group’s strategy to mitigate climate change, in which solar PV rollout and procurement, including a significant number of solar-powered refrigerated trucks and trailers, play a significant role. Shoprite now has 41 solar PV installations at two distribution centres (Basson and…

Ethiopia bans advertisement of infant formula on mainstream media

Nov 11, 2021Nov 11, 2021 Editor

ETHIOPIA – The federal government of Ethiopia has banned the promotion and advertisements of infant formula, due to the growing use of substitute formula undermining breastfeeding. With the Ethiopian Food & Drug Authority (EDFA) regulating the commercialization of breastmilk substitutes, any form of promotion using radio, TV and sponsored content is no longer allowed. The ban affects a market with close to 78.4 million Birr (US$1.6m) worth of infant formula which was imported last year, up by 51.3pc from 2018, reports Addis Fortune. Recent data on the number of companies…

Kenya’s horticulture earnings continue falling despite volume growth

Nov 11, 2021Nov 11, 2021 Editor

KENYA – Kenya’s horticulture earnings have dropped by Ksh12 billion (US$101m) in 10 months to October, attributed to lower quality produce that attracted reduced prices at the global market amid competition from Latin countries. The Horticultural Crops Directorate (HCD) has revealed that Kenya earned Ksh116.8 billion (US$1.04 billion) between January and October, down from Ksh128.8 billion (US$1.15 billion) last year. The earnings declined despite growth in volumes, which was 16 percent higher than the previous period, reports Business Daily. However, volume growth was not enough to offset the decline in…

Hershey expands snacking portfolio with US$1.2B acquisition of Dot’s Homestyle Pretzels

Nov 11, 2021Nov 11, 2021 Editor

US – American multinational snack company, Hershey is buying fast-growing Dot’s Homestyle Pretzels and its Midwest co-manufacturer Pretzels Inc., in an effort to broaden its snacking portfolio. The US$1.2 billion deal would be the second-largest of its kind in its history, according to Food Dive, and would enhance Hershey’s capacity to reach more consumers with a broader mix of salty and sweet offerings. The purchase of the premium pretzel brand – known for its bold flavors including Southwest and Honey Mustard – would also hasten Hershey’s push into the permissible…

Fairafric Ghana: Producing Ghana’s finest, sustainable and organic chocolate products

Nov 11, 2021Nov 11, 2021 Editor

From its location in rural Ghana, fairafric creates some of the finest organic chocolates in the world. Its 10,000 an hour factory churns out chocolate bars that are enjoyed not only in Ghana but also in Germany, France, Austria, Belgium, and even Switzerland.