Horticulture earns Kenya US$3.04bn as export markets become lucrative

KENYA - Kenya earned US$3.04 billion on account of good prices in the export market for the 2017 year, a 41% increase from the previous year, according to the market data from the Horticulture Department. This covers flowers, fruits and vegetables whose overall sales rose from US$2.15 billion in 2016 to US$3.04 billion last year…

Capwell Industries invests US$9.99m in a wheat flour plant in an expansion drive

KENYA - Capwell Industries, the Kenyan milling company that specializes in high quality flour, rice pulses and porridges is investing US$9.99 million in a wheat flour plant as part of its expansion strategy into the market. The company is bracing for competition in the lucrative flour milling industry in Kenya indicating plans to introduce more…

Pioneer Foods signals higher profit of upto 44% for the first half

SOUTH AFRICA - The South African packaged goods company Pioneer Foods expects half year operating profit to increase 44% while headline earnings to go up 32% despite of a decline in revenue. Sales volume increased, while some of its main brands recorded a higher market share, others remained fairly stable promising a better first-half performance…

Pick n Pay reports 7% growth in net profit as a result of cost-cutting initiatives

SOUTH AFRICA - Pick n’ Pay, the second largest supermarket chain store in South Africa has reported almost 7% growth in net profit as a reward from cost-cutting programme and a steady 5% increase in sales, reported BusinessDay from a statement. “The group’s muted turnover growth reflects the pressure of an exceedingly challenging trading environment,…

Zeder Ltd financial report falls from harsh macro environment impact results

SOUTH AFRICA - Zeder Investments Ltd., the South African company that focuses on agri, food and beverage sectors said its financial results for the year ended 28 February 2018 was impacted by challenging macro conditions. Most of its portfolio companies including Pioneer Foods, Capespan, Zaad and Agrivision Africa reported losses from the impact. According to…

Guinness Nigeria commits to sustainability through waste management

NIGERIA - Guinness Nigeria Plc has beefed up its commitment to waste management through a partnership with Wecyclers, an enterprise that promotes environmental sustainability, socioeconomic development, and community health, reports Vanguard. The partnership delivers on the company’s 4R waste management strategy covering Reduction, Reuse, Recovery and Recycle. It also addresses global concerns on the impact…

Nigeria to import more rice and wheat as consumption needs rise

NIGERIA - Nigeria, one of the largest economies in Africa is set to import more grain supplies; wheat and rice to meet increasing consumer needs, consumption rates impacted by an influx of refugees in the country. According to a report by the Global Agricultural Information Network (GAIN) of the USDA, the country’s rice production is…

Bio Foods debuts packaging with less impact, starts package take back program

KENYA  – Kenyan specialty dairy company Bio Food Products has introduced new packaging for its range of long life products, which it says have less environmental impact. The new Bio Fresh Milk bottles are made using 30% less polyethylene terephthalate, or PET. The company has also launched a new 2-litre Bio Fresh Milk bottle, which…

Rwandan DSM’s venture, AIF nominated for Global Award

RWANDA - The Rwandan fortified food factory, Africa Improved Foods (AIF), has been nominated as a finalist to the 2018 World Changing Ideas Awards (WCIA), in the food category, reports KT Press. WCIA, now in its second year, celebrates businesses, policies, and non-profits that are poised to help shift society to a more sustainable and…

Ethiopia’s National Alcohol & Liquor Factory launches new product ‘National Vodka’

ETHIOPIA - The National Alcohol & Liquor Factory (NALF) of Ethiopia has expanded its vodka portfolio by launching a new product ‘National Vodka’ into the local market. At the time of the launch, the AddisFortune reported that the alcoholic vodka product, which is a year in its making, will be available in the market in…