Rampant illicit alcohol trade dents economic gains in Uganda registering US$433m loss in taxes

UGANDA – The Illicit alcohol trade has been rampant across the globe at the expense of the legitimate alcohol manufacturers who contribute not only to the exchequer but also create thousands of job opportunities. Other than looking at the economic implications of the illicit trade, consumers’ health is at a risk as the illicit market continues to predominantly supply beverages that often lack proper certification from standards agencies. According to a recently launched report by the Uganda Alcohol Industry Association, between 2017-2021, the value market size of illicit alcoholic drinks…

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Fertilizer producers OCP, ICL sign agreement to promote sustainability research in Morocco

MOROCCO – Moroccan fertilizer group OCP and ICL Specialty Fertilizer have signed a memorandum of understanding (MoU) to promote sustainable development and the fight against climate change. Under the agreement, the parties will offer funding to support sustainability programs and research at Morocco’s Mohammed VI Polytechnic University (UM6P) and Israel’s Ben Gurion University of the Negev (BGU). The research, according to reports by Morocco Word, will be centred around food security, ecological restoration, smart agriculture, water, climate change, remote sensing, renewable energies, venture capital, among others. The partnership also seeks…

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Kenya’s Premier Foods launches functional beverage under brand name Recharge Dawa

KENYA – Premier Foods Limited, Kenyan producer of a wide range of condiments and juices has introduced a new beverage dubbed Recharge Dawa. The new drink is inspired by homemade ‘dawa’, a herbal beverage made up of honey, lemon and ginger as its key ingredients, that people concoct to treat common flu and boost immunity. With the launch of the new product, Premier Foods joins the likes of FMCG manufacturer, Tropikal Brands Afrika Limited, who introduced a new functional beverage drink in the market mid this year. Tropikal’s Super-C is…

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Famous Brands makes new board appointment, expects sharp improvement in headline earnings

SOUTH AFRICA – South African restaurant franchisor, Famous Brands, has announced the appointment of Ms Busisiwe Mathe as an independent Non-executive Director to the Board of Directors of the company, effective from 20 October 2021. Busisiwe, who holds a B. Com Accounting and a Higher Diploma in Accounting from the University of Witwatersrand, is a Chartered Accountant and a registered member of the South African Institute of Chartered Accountants. She has held several leadership positions at PricewaterhouseCoopers (PWC) including as Chairperson of the South African Governing Board, member of the…

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Kenya’s alcohol sector players lobby for increased operating hours to aid industry recovery

KENYA – The Alcohol Beverages Association of Kenya (ABAK) has petitioned the government to increase the operating period of bars by two hours in the wake of falling Covid-19 infection rates. According to the liquor traders’ representative, a further two hours of operations by the outlets and other entertainment joints will serve to cushion the hit on the industry. The Association is backing its push on the recent fall in the COVID-19 positivity rate which has averaged below five per cent. “Abak notes the Covid-19 positivity rate in the last…

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Coca-Cola eyes US$8 billion value from Coca-Cola Beverages Africa public listing

SOUTH AFRICA – The Coca-Cola Company is gearing closer to finalizing plans of listing its largest bottler in Africa, Coca-Cola Beverages Africa (CCBA), as a publicly traded entity. According to reports by Bloomberg, talks are ongoing and the final timing and size of the IPO will depend on the investors’ appetite and market conditions. The soft beverage giant is seeking a value of R120 billion (US$8 billion) for Coca-Cola Beverages Africa when it lists the bottler in 2022, according to people familiar with the matter. To facilitate the process, Coca-Cola…

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Agribusiness financier MESPT offers backing to small scale farmers in Kenya with US$27m loan package

KENYA – Micro Enterprises Support Programme Trust (MESPT) has partnered with donors such as the Danish government and the European Union to support Kenyan farmers access funds for their agricultural activities. The organization will be extending Ksh3 billion loan to over 50,000 small scale farmers, aimed to strengthen food production and create more jobs in the agriculture sector, reports Business Daily. Ms Rebecca Amukhoye, MESPT Chief Executive Officer, said the institution is implementing a development model that seeks to enhance agriculture enterprise development and agricultural productivity and food safety by…

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Financial institution EBRD supports Tunisia’s olive-oil sector with US$7m financing to COGIA SA

TUNISIA – The European Bank for Reconstruction and Development (EBRD) has dished out a TND 20 million (US$7.19 million) loan to Compagnie Générale des Industries Alimentaires (COGIA SA), one of Tunisia’s largest producer and export of olive oil. COGIA is a subsidiary of United Arab Emirates-based IFFCO Group, with a diversified portfolio of value-added sustainable foods, consumer products and services across the Middle East, Africa, southeast Asia and Europe.  The funds will enable the producer of Rahma, Allegro and SanMarco brands, to grow its sourcing, bottling and exports of Tunisian…

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CCBSA continues to contribute to circular economy through plastic waste collection drives

SOUTH AFRICA – In line with its World Without Waste Vision 2030 agenda, the Coca-Cola Beverages South Africa (CCBSA) has partnered with Matongoni Recycling Group to undertake a plastic waste collection and recycling initiative in rural communities of Limpopo Province. The beverage giant targets to collect and recycle the equivalent of every bottle it sells, and reach 50% recycled content of all its packaging by 2030 globally. Under the recently launched project, Coca-Cola will provide the much-needed boost to the collection of polyethylene terephthalate (PET) plastic bottles by availing a…

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USAID supports Zambian agribusiness enterprises, Zimbabwe formulates animal health regulations in partnership with FAO

SOUTHERN AFRICA – Zambia has received an additional US$3.9m support from the United States Agency for International Development (USAID), to support small and medium sized agribusiness enterprises. In the two months since Zambia’s August 12 presidential election, USAID has programmed approximately US$30 million in new U.S. Government funding for the Zambian people. The additional funds will help grow small and medium enterprises, particularly those that are women-led, with a focus on strengthening job creation and revenue growth. Meanwhile, key stakeholders in the Zimbabwe livestock sector from both the public and…

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