Coca-Cola to invest US$1.11bn in France over the next five years

FRANCE – The Coca-Cola Company and Coca-Cola European Partners (CCEP), the primary bottling partner in the France, have unveiled plans of investing upto €1 billion (USS$1.11bn) in the country’s economic ecosystem over the next five years. Coca-Cola said that the investment will be used to introduce new products in the French market, expand its bottling capacity, modernize CCEP’s manufacturing plants, support innovations and the company’s brands. After investing €350 million (about US$390m) since 2013, CCEP has now earmarked €500 million (US$554m) to further strengthen its production and distribution network. CCEP…

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Local investors eyeing stake in Zimbabwe Glass Holdings

ZIMBABWE – Two local Zimbabwe companies are angling for a shareholding in Zimbabwe Glass Holdings, a wholly owned subsidiary of the state enterprise, Industrial Development Corporation of Zimbabwe. Zimbabwe Glass Industries who are the sole manufacturers of glass packaging in Zimbabwe, was closed in September 2010 for refurbishments but the company failed to secure funding, leading to its placement under judicial management in 2014. About US$10 million is required to revive the plant, whose bulk of equipment is now beyond repair. The only most valuable asset owned by Zimglass is…

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Kenyan government rolls out anti-aflatoxin farm input country wide

KENYA – The government of Kenya has contracted a biological crop protection company, Koppert Biological Systems to distribute Aflasafe, a natural product that fights aflatoxin, to all farmers in the country. This follows the recent occurrence of cases of the prevalence of Aflatoxin in food stuffs in the Kenyan market such as Maize meal, milk and peanut butters which has led to some of the brands recalled. Agriculture Principal Secretary (PS) Prof. Hamadi Boga said that Aflasafe, a new technology developed a few years back to fight Aflatoxin in maize,…

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Solidaridad, EU sign US$4m partnership agreement to develop Liberia’s cocoa value chain

LIBERIA – Solidaridad West Africa in partnership with the European Union, has penned a memorandum of understanding for the implementation of the US$4M Cocoa Value Chain Development Program (COVADEP) in Liberia which Solidaridad is expected to provide US$1million. The agreement is a 4-year intervention that seeks to reduce poverty by increasing incomes, improving livelihoods and the resilience and competitiveness of the Liberia Cocoa sector. The COVADEP program comes on the heels of about two years of implementation of the Liberia Cocoa Sector Improvement Program (LICSIP) by Solidaridad to create a…

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Kenya to receive US$98.5m from the World Bank to develop sustainable fisheries sector

KENYA – Five coastal counties in Kenya are set to benefit from a Sh10 billion (US$98.5m) funding from the World Bank to develop fisheries sector and harness opportunities in the blue economy. Mombasa, Kwale, Kilifi, Tana River and Lamu counties have been listed as beneficiaries of the fund secured by the national government through the State Department of Fisheries and the Blue Economy programme. The funding is meant to support the Kenya Marine Fisheries and Socio-Economic Development (Kemfsed) project which will be rolled out this year, so as to attain…

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Danish Brewing Company to set up a US$45 million plant in Kenya

KENYA – Danish Brewing East Africa Limited, a subsidiary of Bounty Global Management DWC LLC will be setting up a US$45 million (KSh4.59 billion) plant at the Naivasha Industrial Park, Kenya. While more than 100 local and international investors have so far expressed interest in setting up shop at the planned industrial park, Danish Brewing Company will be the first anchor tenant. The new plant with a production capacity of 12-15 million cases of beer annually, will enable Danish Brewing East Africa Limited to undertake local production of Tuborg, Carlsberg,…

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Ecommerce giant exists Tanzania after axing operations in Cameroon

TANZANIA – Jumia, leading e-commerce player in Africa ceased operations in Tanzania on Thursday, November 27th as it continues to review its portfolio. Jumia said it would continue to serve vendors and customers via its classifieds business. The online retailer, which has seen its share price plummet since a Wall Street debut in April, also suspended its e-commerce business in Cameroon on Nov. 18 firing all its staff amid mounting losses. The closure in Cameroon, which started in 2014 comes a few months after an alleged fraud which cost the…

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Symrise opens creative center in Egypt to boost growth in the MEA region

EGYPT – Symrise, a German flavours and fragrances specialist has inaugurated its Creative Center in the outskirts of Cairo, Egypt comprising of modern development and application laboratories for taste solutions. Symrise will utilize the facility to develop flavours for various application areas, in particular for Beverages, Confectionery, Dairy, Culinary and Snacks ingredients. The Creative Center having been equipped with state-of-the-art technology, will enable the development of customized product solutions, applications and adapt existing products for the market. “By investing in the new Creative Center, our strong team of food technologists…

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Nigerian Stock Exchange delists Dangote Flour Mills after takeover

NIGERIA – The Nigerian Stock Exchange has delisted the entire issued share capital of Dangote Flour Mills Plc from its listing effective Monday, 18 November 2019. The statement issued by the Nigerian bourse read in part, “Dealing members are hereby notified that DFM was on November 18, 2019 delisted from the daily official list of the Exchange.” This comes after the shareholders of Dangote Flour Mills Plc endorsed the acquisition of the company by Crown Flour Mills Limited, the Nigerian subsidiary of Olam International Limited in October for N120 billion…

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Kenyan specialty coffee auction launches in the US to promote direct trade

KENYA – A Kenyan specialty coffee auction has been launched in America, with a capacity of 38,000 tonnes to sell Kenya’s top coffee grades AA, AB and PB directly to the US with all the lots having attained over 84 points specialty coffee standard scores. The Zabuni Specialty Kenyan Coffee Auction, based in Nebraska, was officially launched by Kenya’s Cabinet Secretary of Trade, Industry and Co-operative Peter Munya. The CS highlighted that coffee roasters from North America would no longer have to travel to Kenya to bid for the beverage…

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