Palm oil plantations across Africa forecast to rise as demand increases, study says

AFRICA - A new study forecasts a rise in palm oil plantations across Africa as the global demand for the commodity continues to grow, as the continent offers the low-lying tropical ecosystems palm oil prefers, hence an opportunity for businesses and local farmers to generate income. According to FoodingredientsFirst, lessons learned from Southeast Asia, where…

Maize flour prices in Uganda fall due to increased supply of cheap grains

UGANDA - Maize flour prices have dipped to a six-year low on increased supply of cheap grains from Uganda and harvests in western Kenya, easing inflationary pressure. According to Business Daily, the imports from Uganda and harvest has pulled down grain costs from Sh3, 200 a bag in January to below Sh2, 000, offering millers…

Bosch Appliances to open next regional outlet in Ethiopia after Kenya

ETHIOPIA – German engineering and electronics maker, Bosch Appliances, will open its next regional outlet in Ethiopia this year as it eyes further expansion across Africa. According to the Business Daily, the multinational engineering and electronics maker said it will then open similar stores in Uganda, Tanzania, Mozambique, Senegal, Zimbabwe, Namibia, Ivory Coast and Nigeria…

International Coffee Organization in Kenya for talks with coffee farmers

KENYA - Members of the International Coffee Organisation (ICO) are in Kenya for talks with Kenyan coffee farmers who are looking to ink direct purchase deals with top global coffee buyers. According to Business Daily, the ICO executive director Jose Sette held a meeting with Council of Governors vice chair Kirinyaga Governor Anne Waiguru and…

Sea Harvest expects 31% decline in profits hit by Viking buyout

SOUTH AFRICA - South African fishing company Sea Harvest expects interim basic earnings a share to decline by 31%, a slowdown attributed to the acquisition of rival Viking Fishing Holdings. For the six months ended June, basic earnings were expected to be between 46cents and 50c a share, a decrease of between 31% and 25%…

Simbisa Brands to open more fast food outlets in Kenya in an expansion drive

KENYA - Simbisa Brands, Zimbabwe’s largest fast-food restaurant operator has announced plans to open more restaurant and fast-food outlets in Kenya to expand its presence and tame rivals in the country, Business Daily has reported. The quick service and restaurant company operates Chicken Inn, Pizza Inn, Bakers Inn and Creamy Inn in Kenya. According to…

Champ Malta producer Champion Breweries profits fall 7% on rising costs

NIGERIA - Champion Breweries plc, Akwa Ibom based producer of Champion lager beer and Champ Malta has recorded 6.53% decline in profit to US$223,102.93 for the half year ended June 2018 from US$238,345.99 in 2017. According to Beverage Industry news, the decline was blamed on rising cost of selling and distribution expenses, which rose 95%…

International Breweries reports loss despite strong revenue boost in the first half

NIGERIA - International Breweries Plc, a subsidiary of the world’s largest brewer AB InBev has reported a loss of US$7.76m in the first half of 2018 from US$6.09mn in the first quarter. Revenue grew to US$146.88mn and the quarter was marked by various product launches aimed at expanding its portfolio. The brewer launched its premium…

UAC Foods appoints Oladele Ajayi as new Managing Director

NIGERIA - The Board of UAC Foods Limited, a joint venture between UAC of Nigeria Plc and Tiger Brands has appointed Oladele Ajayi as new Managing Director, reported Beverage Industry news. His appointment follows years of experience at Nigerian Breweries Plc where he joined in 1989 as an assistant brewer, served in various roles including…

COCOBOD opens Shea office as government plans to set up board by 2024

GHANA - The government cocoa regulatory agency, Ghana Cocoa Board (COCOBOD) has opened a Shea Unit Office in Tamale to serve as an operational secretariat to develop the industry through supply chain in the region. Meanwhile, the government is planning to set up a Shea Development Board by 2024 in a bid to transition the…