Category: AFRICAN NEWS

KFC South Africa expands its eCommerce reach by leveraging on Vodacom’s Super App

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SOUTH AFRICA – Fast food chain operator, KFC South Africa, has become a Mini Program partner on the Vodacom Super App, to enable it access new customers, trade and promote its business at a personalised level at no cost on what is, arguably, South Africa’s most high-tech and infinitely scalable digital mall. KFC is one of approximately 70 businesses that have already signed up or committed to build their own Mini Program in the Vodacom Super App. These include retailers, fast moving consumer goods companies, food outlets, transport operators and…

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Seed Co establishes US$12m drying plant in Zimbabwe enhancing availability of seeds in market

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ZIMBABWE – Seed producer, Seed Co Zimbabwe has completed setting up its new US$12 million artificial seed drying plant at Stapleford, Mt Hampden, Zimbabwe which will enhance early seed availability for sale post-harvest. The group is also looking at increasing the capacity of the artificial seed drying facility in Harare, as well as replicating it in the region, reports The Herald. Seed Co Chief Executive Morgan Nzwere said, “The artificial seed drying plant was successfully completed at Stapleford, which can do 5,000 tonnes. It will allow us to service early…

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Acumen Resilient Agriculture Fund raises US$58m to boost climate change resilience of African small-holder farmers

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AFRICA – The Acumen Resilient Agriculture Fund (ARAF), an equity fund that supports African agri-businesses that assist smallholder farmers adapt to climate change, has raised US$58 million. The fund is supported by the Dutch entrepreneurial development bank (FMO), the Soros Economic Development Fund, the French development institution PROPARCO (through FISEA+, the AFD Fund advised by PROPARCO), the Children’s Investment Fund Foundation, IKEA Foundation, Global Social Impact, and other respected investors and funders. It is sponsored by Acumen, managed by its wholly owned subsidiary Acumen Capital Partners, and anchored by Green…

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FMO, Rabobank contribute to IDH Farmfit Fund’s US$118.7m supporting small-scale farmers in Africa

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AFRICA – IDH Farmfit Fund, the catalysing smallholder finance facility of IDH has received financial support from the Dutch development bank FMO and Rabobank, each investing €10 million (US$11.8m). The IDH Farmfit Fund, with backing from public and private organizations makes it possible to provide financing for small-scale farmers in developing countries. By covering any initial losses on loans, the fund allows banks to provide financing for this sector with ease, acting as a bridge between small-scale farms and financial services. It also invests in innovative companies that develop solutions…

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UK dishes out US$21m funding to Kenya for establishment of digital trade corridor

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KENYA – Kenyan horticultural producers are set to access the British market more efficiently and cheaply, following the set-up of a digital customs system in the East African economy. During the recent visit to the UK by the President of Kenya, Uhuru Kenyatta, Kenyan-based non-profit making organisation TradeMark East Africa (TMEA), and the UK-based Institute of Export and International Trade ((IOE&IT), signed a memorandum of understanding (MoU) providing a framework for collaboration in the implementation of a digital trade corridor between the two nations. To be delivered by TMEA and…

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Tiger Brands recalls canned products over faulty cans

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SOUTH AFRICA – Tiger Brands, South Africa’s largest food manufacturer, has announced the urgent recall of about 20 million KOO, its rainbow brand, and Hugo’s canned vegetable products manufactured between 1 May 2019 and 5 May 2021 over safety concerns due to potentially defective cans. The company’s Groceries division first discovered the defective products in May 2021, prior to the final labelling of the finished product, linking them to a deficient side seam weld that could cause the cans to leak. They were traced back to three different batches of…

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SAB encourages responsible drinking through launch of ghost kitchen serving pre- and post-groove meals

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SOUTH AFRICA – Keeping to its true nature of introducing new innovative offerings in the South African market, alcohol major South African Breweries (SAB), has launched a ghost kitchen to deliver delicious bites to consumers, before and after indulging in alcohol, under its Flying Fish brand. Dubbed, The Flying Dish Kitchen, the beer maker has partnered with Uber Eats to feature a select menu of consumers’ favourite pre- and post-groove meals, as chosen by them. The tantalizing menu is set to feature affordable gourmet burgers, to vegan vibes, made by…

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AgDevCo expands portfolio to develop banana industry in Mozambique

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MOZAMBIQUE – Social impact investor AgDevCo has announced its latest investment in Mozambique’s agribusiness sector. The UK-based social impact investor has closed a US$3 million debt investment in Quinta da Bela Vista Limitada (QBV), an irrigated banana estate located in the Boane area in Mozambique. QBV was established in 2016 as a joint venture between Silverstreet Capital’s Silverlands I Fund and Crookes Brothers Limited and currently comprises 128ha of irrigated bananas. The company’s strategy is to expand the operation to 260ha over the next two years. “AgDevCo’s funding of QBV…

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Angolan milling company GMA readies second phase of Lobito’s wheat flour mill construction

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ANGOLA – Grandes Moagens de Angola, subsidiary of one of Angola’s leading players in soft commodities and FMCG (fast-moving consumer goods), Webcor, has completed construction of the first phase of its wheat flour mill in Lobito. According to the parent company, construction of Lobito mill began in November 2018 and included the reconstruction of a colonial-era silo, installation of new metal silos, and cleaning and transportation equipment. The silos, with a total storage capacity of 66,000 tons of grain, can unload grain ships at up to 300 tons per hour…

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Egypt’s contact-less grocery delivery platform GoodsMart raises US$3.6m for further expansion

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EGYPT – Egyptian grocery delivery platform GoodsMart, has raised US$3.6 million in a funding round led by Sawari Ventures. Founded in 2014, GoodsMart allows customers to browse thousands of premium grocery and home products from a variety of shops and suppliers, place orders, and have goods delivered to their door. On the surface, the company may look like any other grocery delivery startup but the overall user experience and operating model GoodsMart has is completely different. According to reports by Menabytes, its grocery delivery service is contactless as the users…

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