Ardagh Group invests US$200m in new UK can plant to meet rising demand in Europe

UK – Ardagh Metal Packaging (AMP), a division of Ardagh Group, is set to build a US$200 million beverage can facility near Belfast in Northern Ireland to meet rising demand from its customers in Europe.   The project is part of the firm’s multi-billion-dollar investment strategy to strengthen its recyclable metal packaging capacity in Europe, North America, and Brazil.   AMP’s CEO, Oliver Graham, said: “This exciting project is an important part of AMP’s global investment programme.   We are delighted to be investing in Northern Ireland, supporting our clients’ sustainability needs and further reducing our carbon footprint by…

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Monster Beverage mulls teaming up with Constellation Brands to unlock new revenue opportunities

USA – Energy drinks maker Monster Beverage Corp is reported to be exploring a potential deal with international beverage alcohol company Constellation Brands Inc, according to a report by Bloomberg.   The structure of a potential deal involving the companies, which have a combined market value of nearly US$92 billion, was not immediately known and it remains unclear if discussions will lead to a full merger or asset deal.   If the two companies decide to merge, it would create a beverage juggernaut with a combined market value of close to US$100…

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World Bank boosts resilience of food systems in West Africa with U$570m financing

WEST AFRICA – Four million people across West Africa stand to benefit from a new multi-phase regional program that will complement and enhance ongoing efforts to reduce food insecurity and improve the resilience of food systems. The new Food Systems Resilience Program (FSRP) was approved by the World Bank for a total amount of US$570 million in International Development Association (IDA) financing.  The first phase of the program which amounts to US$330 million brings together four countries; Burkina Faso, Mali, Niger, and Togo, and three regional organizations – the Economic…

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IITA, Yara launch soyabean project in Ghana to boost local production

GHANA – The International Institute of Tropical Agriculture (IITA) and Yara–Ghana have begun a project to sustainably increase the production of soyabean to meet the rising demand in the country. The project dubbed: “Sustainable Soyabean Production in Northern Ghana” (SSPiNG) also seeks to enable rural households to raise their incomes and improve food security on a sustainable basis. Other partners of the SSPiNG project, which is being implemented within four years, included the Ministry of Food and Agriculture (MoFA), Wageningen University and Research and Felleskjøpet Rogaland Agder and it is…

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Ugandan coffee brewer Endiro Coffee promotes local consumption with launch of new coffee outlet

UGANDA – In a bid to promote local consumption of coffee across Uganda, one of the leading coffee houses, Endiro coffee has opened a new outlet at Sipi Falls in Kapchorwa, bringing its total branch count to 11. The East African nation is one of the largest producers of Robusta in the world, yet despite the popular claims coffee consumption in Uganda is still low. According to Faosta, coffee consumption per capita in 2018 reached 0.500 kg, against a global average of 1.19 kg. However, the interventions from the Uganda…

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Jumia taps on expertise of celebrated executive Betty Mwangi to be CEO of Kenyan unit

KENYA – African e-commerce giant, Jumia, has appointed Betty Mwangi as the new CEO of its Kenya based operations. She takes over the mantle of leadership from Sam Chappate who has been promoted to a senior role within the continental based Group after serving as its Kenyan CEO for the past five years. Betty is an engineer with 20 years of experience in the telecommunications, insurance, and pharmaceutical industries. She previously served as Group Commercial Director for Britam Group PLC from 2016 to 2021, a company she originally joined in…

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Heineken raises glass to 5 years of quenching Ivorian’s thirst with locally made beer brand Ivoire

IVORY COAST – Brassivoire, the Ivorian joint venture between Dutch brewer Heineken and front-ranking specialized consumer goods distributor CFAO, is celebrating 5 years anniversary since the launch of its flagship locally made beer brand Ivoire. Launched in 2016, Ivoire features locally grown broken rice combined with malt, offering a unique original drink anchored in the taste and culture of the Ivorian terroir. The celebration was an opportunity to acknowledge the success the brand has attained with Laurent Theodore, Managing Director of Brassivoire, highlighting that, “The anniversary of Ivoire is a…

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DoorDash expands into Europe with US$8.1B acquisition of Wolt

FINLAND – American multinational food delivery giant, DoorDash is buying Finnish delivery service Wolt Enterprises as it seeks to expand into Europe and other markets.  The US$8.1 billion deal will bring DoorDash into 22 countries where it doesn’t currently operate, including Germany, Sweden, Hungary, and Israel.  DoorDash CEO Tony Xu revealed that the combined companies will reach 700 million people with Japan being the only market where both DoorDash and Wolt overlap.  “We believe these markets provide an opportunity to grow our international business to multiples of what it is…

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Impossible Food’s expansion drive bolstered by US$500m investment round led by Mirae

USA – Impossible Foods, one of the leading startups in the alternative protein sector, has raised approximately US$500m  in its most recent funding round that was led by existing investor Mirae Asset Global with participation from other Impossible Foods investors.  The recent funding round brings the company’s total funding since it was founded in 2011 to nearly $2 billion makes the Beyond Meat Inc rival the most well-funded and richly valued plant-based burger startup in the United States.  Impossible Foods said that the money from the round will fund its…

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Oatly inaugurates new production facility in China to take advantage of robust demand for faux dairy

CHINA – Swedish alternative dairy company Oatly has opened its first manufacturing facility in China, as it looks to expand its production capacity in Asia.  The Swedish oat milk giant described the new factory as part of its “wider initiative to build factories fit for the future” and to meet growing demand across Asia.    The facility which is located in Ma’anshan, Anhui province has the potential to produce an estimated 150 million litres of oat-based products annually at full capacity.  “Oatly has grown to be the leader of the plant-based milk category in China…

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