Zimbabwe Tea producer Tanganda to relist on ZSE after 14-year hiatus

ZIMBABWE – Zimbabwean dominant conglomerate Meikles Limited, is seeking to unbundle its agro-business operation, Tanganda Tea Company Limited and separately re-list it on the Zimbabwe Stock Exchange (ZSE). The relisting of the country’s largest producer, packer and distributor of tea comes 14 years after it voluntarily delisted from the ZSE in 2007, following the merger of its parent company and Kingdom Bank to form Kindom Meikles. The merger only lasted for barely 3 years as both businesses went separate ways in 2010. The blue-chip company has indicated that Tanganda’s listing…

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Milk production in Zimbabwe plummets on back of poor producer prices

ZIMBABWE – Zimbabwe has been hit by a serious milk shortage, with dairy farmers citing viability challenges emanating from poor producer prices. Zimbabwe Association of Dairy Farmers (ZADF) chairperson Kudzai Chirima told Standard Business that prices offered by milk processors to farmers were not viable, making some of them divest from the venture and engage in other farming activities. “We have a milk shortage in the country. Farmers realized that it’s not viable to produce milk at the moment because of the prices that are being paid by processors. The…

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PepsiCo reports strong Q1 performance as Deliveroo’s orders more than double

US – US beverage and snack company PepsiCo has reported strong Q1 results with organic net revenues jumping 2.4% and first-quarter net revenues jumping 6.8% to US$14.82 billion. Pepsico’s impressive Q1 performance mainly benefited from accelerated return of the foodservice channel and the acquisitions of Chinese snack company Be & Cheery and South Africa’s Pioneer Foods. This acquisition’s impact could also be reflected in the company’s operating profit stood which jumped 20% to US$2.31 billion, up from US$1.92 billion last year. Division wise, PepsiCo’s Frito-Lay North America unit delivered 3%…

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SIG to build US$48m plant in Mexico to support continued growth in North America

MEXICO – Switzerland-based aseptic carton packaging manufacturer, SIG Combibloc, has announced that it will invest around €40 million (about US$48 million) to construct a new production plant in Queretaro, Mexico. This is in an effort to support the company’s continued growth in North America. The facility is expected to open in the first quarter of 2023, creating around 200 jobs. It will particularly enable the company to establish “state-of-the-art” production capabilities for the printing, cutting and finishing of carton packs. SIG says the new facility will also bring it closer…

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Diageo, Bacardi launch new products to expand respective ready-to-drink portfolios

UK – Alcohol beverage manufacturing giant Bacardi is expanding its Bombay Sapphire portfolio with the addition of two new ready-to-drink (RTD) gin and tonic offerings. Simultaneously, its UK-based peer Diageo has introduced a new ready-to-drink can of Gordon’s 0.0% alcohol-free spirit mixed with tonic for on-the-go summer occasions. Bacardi’s new Bombay Sapphire and light tonic is made using the brand’s London dry gin, blended with light tonic and is reported to contain only 98 calories. Meanwhile, Bombay Bramble and tonic features the brand’s berry-flavoured Bombay Bramble gin and is said…

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QSIT implements Artificial Intelligence solution for Egyptian agriculture sector

EGYPT – Esri, the global company involved in location intelligence, has announced that Egyptian partner Quality Standards for Information Technology (QSIT) has successfully implemented the Crop Mapping and Field Boundary Detection solution for the Agricultural Research Center (ARC) in Egypt. QSIT implemented an artificial intelligence (AI) and remote-sensing spatial analysis solution to establish a dynamic, seasonal digital inventory of crop patterns. It integrates satellite imagery, field observations, data feeds, and geospatial AI (GeoAI) capabilities to support Agricultural Engineering Research Institute (AEnRI) in maximizing crop yields from limited resources. The company…

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Grupo Bimbo to transition Canadian operations to 100% green energy

CANADA – Canadian operations of Mexican multinational food company Grupo Bimbo are set to transition to 100% green energy following the signing of two virtual power purchase agreements (VPPAs) with Renewable Energy Systems (RES). The two fifteen-year agreements were made through Grupo Bimbo’s wholly-owned subsidiary, Bimbo Canada, and will see the development of two wind and solar projects in southern Alberta, totalling 170 MW of installed capacity. Peter Clibbon, RES senior VP of development, said: “RES is proud that its Alberta wind and solar projects are helping Bimbo Canada meet…

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Burger King to heighten competition in Nigeria’s fast-food sector with inaugural entry by Q4

NIGERIA – World’s second-largest fast-food hamburger chain Burger King is set to open its first outlet in Nigeria by the fourth quarter of 2021. This was revealed by Antoine Zammarieh, Managing Director of Allied Food & Confectionery Services Limited in a LinkedIn post, after signing a development agreement with Burger King for the Nigerian market. “I believe this would be a tremendous step towards giving more confidence into the Nigerian market and consumers in general, especially during these hard times. I always believed in Nigeria and in its people. “As…

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Dominos becomes the first US food service restaurant to use fully autonomous vehicles for pizza delivery

US – American multinational pizza restaurant chain Domino’s has launched an autonomous pizza delivery service in the US city of Houston, allowing customers to experience futuristic delivery services handled by robots. Domino’s is collaborating with robotics company Nuro which will provide the robot and oversee the logistics behind the success of the autonomous delivery service. “We’re excited to introduce our autonomous delivery bots to a select set of Domino’s customers in Houston. We can’t wait to see what they think,” said  Dave Ferguson, Nuro co-founder and president, According to Domino’s,…

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Shoprite finds buyer for Nigerian unit, awaits regulatory approval

NIGERIA – Africa’s largest retailer Shoprite Holdings is said to have found a buyer for its Nigerian subsidiary, Retail Supermarkets Nigeria Limited. Reports by Reuters indicate that Nigerian property group Persianas emerged the winner of a bidding process organized to find a buyer for the business. The Palms shopping mall owner who also houses a Shoprite store in the West African country’s commercial capital, Lagos, is arranging debt for the buyout. While the asset has been valued by the seller at N30 billion (US$73 million), it’s not yet clear how…

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