Category: AFRICAN NEWS

South African cheese maker Lancewood expands offering with launch of instant baked cheesecake mix

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SOUTH AFRICA – Baking a cheesecake is a task that’s traditionally been intimidating for many, but Lancewood a South African celebrated dairy brand has made it so easy that everyone, including the kids, can whip up a delicious baked cheesecake with minimal effort required. The dairy producer has launched the delectable new ‘Piece o’ Cake cheesecake mix “, an all-in-one product coming already mixed and prepared in a convenient tub. According to the company, one only needs to simply follow the easy on-pack baking instructions and you’re good to go.…

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InspiraFarms, Ifria partner to develop farm to market cold chain solutions in West and North Africa

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AFRICA – African providers of cold storage solutions, Ifria Cold Chain Development Company and InspiraFarms, have entered into a regional strategic partnership to bring together deep knowledge in the cold chain business, technology development as well as economic and financial deployment skills in African countries. The partnership leverages on Ifria’s cold chain logistics expertise together with InspiraFarms’ next-generation on-farm cold chain & food handling technology and solutions. Ifria is an integrated cold chain development company operating in franchise, license, or directly- cold chain logistics assets, ranging from added value cold storage/logistic warehouses…

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East Africa poultry company Uzima Chicken receives US$3m follow-on debt from AgDevCo

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RWANDA – AgDevCo, UK based social impact investor with a focus on Africa’s agricultural sector has made a US$3.0 million follow-on mezzanine debt investment into Uzima Chicken Limited, a poultry company operating in Rwanda and Uganda. The East African poultry farm produces and distributes Sasso breed chickens with the aim to create value for rural households by providing better quality meat and eggs for consumption and sale. Uzima provides day-old chicks through a network of hundreds of small, independent distributors who rear the birds to six to eight weeks before…

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Angolan state bags US$82m from privatization of government owned breweries, agro-livestock farms

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ANGOLA – The government of Angola has raised a total of Akz 52 billion (US$82.7m) from the privatization of 3 state-owned breweries and 5 agro-livestock enterprises, under the Privatization Program (PROPRIV), coordinated by the Institute of Assets Management and State Participation (IGAPE). IGAPE was created to manage the state’s financial assets and holdings, and carry out the privatisation and restructuring programme of the corporate public sector, according to a presidential order. The PROPRIV program is aligned with the National Development Program 2018-2022 and falls within the scope of Public Finance…

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Cadbury Nigeria reports 10% decline in full year revenue while Unilever Nigeria registers 2% top-line growth

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NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm Mondelez International has reported a 10% decline in full year revenue for the period ended December 2020, to N35.41 billion (US$86.5m). The decline, according to Naira Metrics was occasioned by the decrease in domestic and export sales, spearheaded by the impact of COVID-19, which further affected its profits. The maker of hot chocolate beverage suffered an 83% decline in profit to N172.67 million (US$422,000). Cadbury’s profitability thrives on high volume and high revenue as FMCG profit margins are usually rather…

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ITFC, OCP Africa partner to build Côte d’Ivoire’s rice value chain, Malawi government plans US$40m rice scheme

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CÔTE D’IVOIRE – The International Islamic Trade Finance Corporation (ITFC) has partnered with OCP Africa to support 20,000 rice farmers in Côte d’Ivoire’s agriculture value chain, to boost local agricultural production, minimize exposure to imports and advance food security in the country. The initiative will be undertaken trough OCP Africa’s Agribooster Program with participation from the Arab Africa Trade Bridges (AATB) Program, a multi-partner program led by ITFC. The agreement was signed by Dr. Mohamed Anouar Jamali, Chief Executive Officer of OCP Africa, a subsidiary of OCP Group, and Eng.…

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Mozambique’s Bananalândia Group eyes bigger banana export market, opening US$20m processing unit

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MOZAMBIQUE – Bananalândia Group, a major producer and exporter of bananas in Mozambique has inaugurated its new US$20 million production and processing unit in Maputo province, South of the country. The new unit according to Club of Mozambique, uses modern equipment to plant banana palms and occupies an area of 900 hectares. It currently employs 1,000 workers, with an annual production capacity of 3.5 million boxes for export, reinforcing Mozambique’s lead position in the regional banana market. Over the last decade, much has been done to make the country a…

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NBL treats Namibians abroad with iconic Windhoek Lager, commemorating 31st independence of diplomatic missions

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NAMIBIA – Namibia’s leading beer maker Namibia Breweries Limited (NBL) has donated 340 cases of Windhoek Lager, valued at close to N$ 100 000 (US$6,800) to the Ministry of International Relations and Cooperation (MIRCO), in celebration of the 31st independence of Namibian diplomatic missions abroad, officially commemorated on 21 March 2021. According to the subsidiary of the Ohlthaver & List (O&L Group), the Windhoek Lager consignment will be dispatched to the diplomatic missions of Namibia across the globe. The brewer has chosen to use its iconic premium lager to be…

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SAB to launch new B-BBEE scheme with US$371m worth of AB InBev’s shares

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SOUTH AFRICA – The South African Breweries (SAB), subsidiary of AB InBev is set to launch its new B-BBEE scheme SAB Zenzele Kabili which will own R5.4 billion (US$371m) worth of the parent compay’s shares, after the maturation of its SAB Zenzele in May 2021. SAB Zenzele is the largest B-BBEE scheme in the history of South Africa in the fast-moving consumer goods sector, with a total maturation value of R9.7 billion. Launched in 2010, the landmark scheme transaction endeavoured to give the company’s retailer partners – taverners, bottle store…

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PepsiCo Egypt launches Recycle for Tomorrow platform for plastic waste management

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EGYPT – PepsiCo Egypt has successfully launched its waste management platform “Recycle for Tomorrow” under the auspices of the Ministry of Environment, and in collaboration with Dorna initiative “Reverse credit system”. The initiative is designed and implemented by CID Consulting, with an investment of EGP 10 million (US$637,000), to be channeled towards collecting and recycling the equivalent of 8 million Kilos of the company’s plastic production in 2021, for the first phase. This unique platform contributes in achieving a sustainable model, with a special focus on how to solve and…

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