Category: AFRICAN NEWS

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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Tunisia to continue relying on grain imports to meet growing demand

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TUNISIA – Favourable weather conditions are expected to boost production of grains in Tunisia to 1.2 million metric tonnes (MT) of wheat and 650, 000 MT of barley in the Market Year (MY) 2021/22. This is a rise from MY 2020/21 production estimates of 1.04 MMT for wheat and 465,000 MT for barley. According to a GAIN report prepared by USDA Foreign Agricultural Services, ample rainfall and good soil moisture encouraged farmers to seed larger areas in October to December 2020. The seeded area for wheat increased from 556,000 HA…

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Co-op Bank joins forces with eco.business Fund to finance sustainable agriculture in Kenya with US$10m

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KENYA – Co-operative Bank of Kenya (Co-op Bank), one of Kenya’s leading commercial banks and the primary bank for agricultural cooperative societies in the country, has partnered with eco.business Fund to avail US$10 million financing for on-lending to sustainable agribusinesses. Being the fund’s first ever investment in Kenya, it aims to provide the much-needed financing for businesses to enhance sustainable measures in their agricultural practices, particularly important in light of the challenging operating environment created by the Covid-19 crisis. According to the impact investor, the investment contributes to its mission…

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AB InBev officially cuts ribbon to fourth brewery in Mozambique worth US$180m

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MOZAMBIQUE – Anheuser-Busch InBev (AB InBev), the world’s largest beer producer through its Mozambican subsidiary Cervejas de Mocambique (CDM), has officially inaugurated its new US$180 million brewery. The new processing facility was opened by the President of the Republic, Filipe Nyusi who graced the occasion. According to reports by Reuters, the new site has a production capacity of 2.4 million hectolitres per year, with potential to expand that to 6.7 million hl. It has a filling line with the capacity to produce 80,000 bottles per hour. CDM claims that the…

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Silafrica partners with Ellen MacArthur Foundation to combat plastic waste

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KENYA – Africa’s leading plastic and packaging solutions provider, Silafrica has joined the New Plastics Economy initiative by Ellen MacArthur Foundation, strengthening its commitment to establish a global circular economy. The Ellen MacArthur Foundation is a UK registered charity which aims to inspire a generation to re-think, re-design & build a positive future through the framework of a circular economy. The foundation with members across the globe including Tetra Pak, Danone, Coca-Cola, Nestle among many others, seeks to drive momentum to reach its goal by eliminating problematic or unnecessary plastic…

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Alapala continues with global expansion, opens new office in Kenya

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KENYA – Turkey’s premier milling equipment company Alapala has expanded its presence in the Eastern African region with the opening of its new office in Kenya. Located in the country’s capital city Nairobi, the new base is part of its global expansion and is aimed to better serve its local customers. “With continued growth and our commitment to providing outstanding service, we are now even stronger in East Africa with our new office in Nairobi,” highlighted Alapala on a LinkedIn post. The announcement comes almost a year after it completed…

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