RFG holdings realises marginal rise in full year profit, plans to consolidate operations

SOUTH AFRICA – South Africa-based producer of fresh, frozen and long-life convenience meal solutions, RFG holdings has reported an 8.3% increase in turnover to R5.9 billion (US$379.2m) for the year to end September, despite difficult trading conditions caused by the Covid-19 outbreak. The group’s operating profit was consistent with the previous year at R392.0 million (US$25.19m) and the operating profit margin declined from 7.2% to 6.7%. It’s profit after tax increased by 0.3% to R216.1 million (US$13.88m) with its Headline earnings being 3.2% higher at R226.7 million (US$14.57m). The Western-Cape…

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Ethiopian coffee processor Haro Coffee ventures into packaging production

ETHIOPIA – Ethiopian coffee processing and brewing company, Haro Coffee, has diversified its business into production of disposable food and beverage packaging, investing Birr 20 million in development of a plant. The facility, resting on 650Sqm piece of land is currently under construction and is expected to be operational in two months, creating job opportunities for 30 individuals, reports Addis Fortune. Some of the products to be made at the plant will include paper cups, sugar sticks, drinking straws, bamboo stir sticks, and paper bags for takeaway service. Haro will…

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Kenya Breweries Limited revises grain demand on re-surging alcohol sales

KENYA – Kenya Breweries Limited (KBL), subsidiary of the East African Breweries Limited (EABL) has revised its demand for grains used in the production of alcoholic beverages on the back of rebound in sales. The move follows the reopening of bars, pubs and restaurants after the government eased restrictions meant to curb the spread of Covid-19, which has since boosted demand for drinks. The beer maker said in a statement that it has increased demand for sorghum and barley to 20,000 tonnes each, which is almost double the volumes projected…

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Ethiopia builds wheat production capacity with adoption of new-improved varieties

ETHIOPIA – Ethiopia, the largest wheat producer in sub-Saharan Africa is inching closer to become self-sufficient in production of the crop, following the widespread adoption of new, improved and rust-resistant wheat varieties since 2014. This was revealed by International Maize and Wheat Improvement Center (CIMMYT) who undertook the first nationally representative large-scale wheat DNA fingerprinting study, in partnership with the Ethiopian Institute of Agricultural Research (EIAR), the Ethiopian Central Statistical Agency (CSA) and Diversity Array Technologies (DArT). The study was undertaken in 4,000 plots which found that nearly half (47%)…

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Distell launches Hunters Red Apple variant drink

Company name: Distell South Africa Product type: Cider Innovation: New flavour variant Distell South Africa has added a new variant to its popular Hunters brand with the launch of Hunters Red Apple variant. With real apples, Hunters Red Apple comes in 330 ml glass bottles and is available across the formal and other outlets in South Africa. The new variant is an addition to the existing Hunters Dry, Hunters Gold, Hunters Hard Lemon, Hunters Export Extra Dry and Hunters Chilled Non-Alcoholic variants.

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Farmcrowdy unveils six business units to steer its operations in years to come

NIGERIA – Farmcrowdy, an Agritech company in Nigeria has announced the expansion of its business beyond financing, into using technology to serve all individuals across the entire agriculture value chain prioritizing stakeholder access to better yields, lower costs, and smarter marketing. The digital agriculture platform announced the diversification plan dubbed Farmcrowdy 3.0 during its 4th year anniversary celebration, reports Tech Next Nigeria. Farmcrowdy 3.0 is an umbrella platform comprising 6 business units leveraging on technology, which the company is looking to focus on in the next year to include FC…

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Southern African speciality food maker Black Mamba Foods gets backing from Enygma Ventures

ESWATINI – Black Mamba Foods, Eswatini based speciality food processor has clinched R9.2m (US$559k) worth of investment from Enygma Ventures through its female focused fund, to expand its operations. The food company manufactures a range of chilli sauces, pestos, pickles, chutneys and jams, all made from natural, fresh ingredients without artificial flavours or preservatives. “We are extremely excited about this partnership with Enygma Ventures. The financial and strategic support will allow us to scale Black Mamba exponentially. “It validates our business model, based on building a fun and modern African…

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ITFC issues grant to Senegal based ground nut oil processor to augment quality standards

SENEGAL – The Senegalese Groundnut Oil Processing Company, SONACOS has received a grant from the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group to boost its processing capabilities. SONACOS is a public limited company that has operated in the groundnut sector in Senegal for over 40 years, with an annual processing capacity of 360,000 tons. It undertakes its operations through five factories in Lyndiane, Ziguinchor, Diourbel, Louga and Dakar and works hand in hand with producers of groundnut seeds and other aspects of…

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Africa Improved Foods appoints Edouard Spicher as company’s new CEO

RWANDA – Africa Improved Foods (AIF), Rwanda based local manufacturer of fortified foods has named Edouard Spicher as the company’s new CEO taking over from Amar Ali, who has been at the helm since 2016. Taking over leadership of the company, Edouard comes with a 25 years track record as a Senior Executive in the consumer goods sector with a strong background in emerging markets. He has worked with organizations such as Fan Milk International as CEO and Nestle in different capacities, across different markets. “It is our pleasure to…

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NBL reports double digit decline in overall volume sales triggered by alcohol sale ban

NAMIBIA – Namibia Breweries Limited, a leading beverage manufacturing company in Namibia has reported a 14.6% decline in full year revenue for the period ended 30 June 2020 to N$2.6 billion (US$174.6m) from previous year’s N$3 billion (US$201.47m). According to the company, the drop is attributed to several months of lockdowns and alcohol prohibition in both its main markets i.e. Namibia and South Africa which registered a decline in volume sales. NBL’s overall volumes declined by 16.6% with the manufacturer of alcoholic, non-alcoholic and soft beverages, noting that Pre-COVID its…

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