Admarc seeking US$135.2m loan to finance purchase maize produce from Malawian farmers
MALAWI – The Agricultural Development and Marketing Corporation (Admarc) of Malawi is seeking K100 billion…
Financials & Economy
PepsiCo reports strong first quarter as revenue grows 10% to US$13.88bn
USA – PepsiCo has released its first quarter 2020 financial report, posting stronger than expected…
Olam secures US$176m to consolidate its cocoa and agribusiness operations
SINGAPORE – Global food and agri-business company, Olam International and its wholly owned subsidiary, Olam…
Corn, soybean growing areas in the United States hit hardest by COVID-19
USA – The Coronavirus pandemic has had far reaching impacts on different farming communities in…
PepsiCo-backed plastic recycling fund invests US$6m in two Asian firms
SINGAPORE – The Circulate Capital Ocean Fund (CCOF), an investment fund dedicated to the alleviating…
Starbucks partners with Sequoia Capital China to invest in tech companies
CHINA – Starbucks has announced a strategic partnership with leading investment firm, Sequoia Capital China…
India craft beer brand Bira 91 raises US$30m to expand its footprint
INDIA – Bira 91, a craft beer brand owned by B9 Beverages, has raised US$30…
Unilever Nigeria reports 52.6% decline in profit driven by drop in revenue
NIGERIA – Consumer goods firm, Unilever Nigeria has reported a 30% drop in the top line revenues…
Cadbury Nigeria posts 26% rise in first quarter profit despite 8% decline in revenue
NIGERIA – Cadbury Nigeria, subsidiary of snack and confectionery firm, Mondelez International has released its unaudited financial…
Choppies postpones release of audited financial results due to the Covid-19 pandemic
BOTSWANA – Botswana based retailer, Choppies supermarket whose 2018 results were delayed by more than…
Nestlé reports first qurter sales decrease by 6.2% to US$21.35 billion
SWITZERLAND – Nestlé has reported 6.2% decrease in total sales for the first quarter of…
Nigerian Breweries posts 31.4% decline in profit in the first quarter
NIGERIA – Nigerian Breweries Plc has released its latest earnings report for the first quarter…
Inari secures US$45m to bring innovative agric technologies to the market
USA – Inari, a US biotechnology company revolutionizing agricultural R&D, has entered into a US$45…
KKR makes US$500m equity investment in US Foods Holding Corp
USA – Global investment firm, KKR – through its affiliates – has announced a US$500…
Israeli startup Cannibble FoodTech eyes listing on a major stock exchange
ISRAEL – Cannibble FoodTech, an Israeli-based food-tech developer of cannabis-based edibles targeting a variety of…
Coca-Cola’s revenues decline as the business environment proves challenging
USA – The Coca-Cola Company has reported a 1% decline in net revenues during the…
Danone lifts first-quarter sales amid Covid-19, withdraws full-year guidance
FRANCE – Danone, the French multinational food and beverage giant has reported a 3.7% growth…
Canadian beverage tech company Province Brands closes US$1.6m funding round
CANADA – Province Brands of Canada, a beverage technology company that has developed a first-of-its…
Chr. Hansen Chief Financial Officer Søren Westh Lonning steps down
DENMARK – Global bioscience company, Chr. Hansen has announced the departure of its Chief Financial…
American fast casual restaurant chain Shake Shack raises US$150m
USA – Shake Shack, a New York-based causal restaurant chain, has raised an aggregate of…
Canopy Growth announces changes to global operations to drive strategic focus
CANADA – CBD-infused beverage producer, Canopy Growth Corporation has announced a series of global operational…
Smithfield Foods avails US$100m responsibility bonus to its team members
USA – Smithfield Foods has announced that it will provide a US$100 million Responsibility Bonus…
Nigerian Stock Exchange lists Flour Mills US$55.16m medium term bonds
NIGERIA – In line with its arrangements to maintain operations in the face of the…
Carrefour Kenya records a 28% increase in annual sales to US$175.9m
KENYA – French retail chain Carrefour has recorded a 28 percent jump in sales to…