Aruwa Capital invests in Nigerian hibiscus processor Agroeknor International

NIGERIA – AgroEknor International, a Nigerian fast-growing hibiscus flower exporter and wellness brand has clinched an early-stage growth equity investment from Aruwa Capital Management. AgroEknor, founded in 2013 is primarily engaged in the processing and exportation of dried hibiscus flowers, a superfood and wellness product. This funding is aimed to accelerate the company’s growth and expansion in select Asian, European and North American markets where it already has key clients. It will also enable it to acquire certifications for global food, safety and hygiene, while further spearheading its plans to…

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MCS Coca-Cola bound for growth following capital injection from EBRD

MONGOLIA – MCS Coca-Cola, Mongolia’s largest producer of soft drinks, is set for further growth following a new capital injection by the European Bank for Reconstruction and Development.  According to a statement from EBRD, the fresh funds will help the Mongolian soft drinks bottler to complete its long-term investment program.   “A senior loan of up to US$ 15 million to MCS Coca-Cola will help to finalise the construction of a new PET bottling plant,” EBRD said.   The funds will be used to install a modern and resource-efficient bottling line and to build…

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Gen Z drive demand for alcohol reduction, Innova Market Insights reveals

GLOBAL – Avoidance of alcohol is becoming the norm for a growing minority of consumers seeking to lead healthier and more productive lives.   While this trend is seen across all age groups, it is most apparent in Generation Z, with as many as a third of consumers aged 18-25 now saying that they never consume alcohol, a new report by Innova Market Insights has revealed.  Despite their desire for no alcohol, younger consumers appear reluctant to turn their backs on either the taste or sophistication of beer, wine and spirits in favor…

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Nigeria sets in motion National Egg Production Scheme to boost local production

NIGERIA – The federal government of Nigeria through the Ministry of Agriculture and Rural Development has launched a new scheme aimed to boost egg production in the country. The National Egg Production (NEGPRO) scheme, expected to run for 5 years, is aimed to strengthen the country’s poultry sector by creating awareness on utilization of the country’s production capacity, marketing and promote economic development. It is set to equally focus on stakeholders’ engagement towards piloting, facilitating and coordinating activities within the value chain. According to reports by the Guardian Nigeria, the…

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American pizzeria Papa John’s International enters Sub-Saharan Africa market

KENYA – Papa John’s International, an American pizza restaurant franchise, has announced its expansion into Sub-Saharan Africa, with plans  of opening 60 restaurants in Kenya and Uganda. The pizza delivery outfit will embark on its Sub-Saharan Africa exploration with the opening of four restaurants in 2022, beginning with Nairobi. This will be done in conjunction with its newest franchise partner Kitchen Express LTD, a subsidiary of AAH Limited. AAH IS the majority shareholder of Hass Petroleum Group, which holds a significant retail footprint in Africa. The partnership will enable Hass…

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Benin secures US$27.5m from JICA to finance Couffo’s drinking water project

BENIN – The Japanese government has awarded a grant of 16 billion CFA francs (US$27.50m) to Benin, through its international cooperation agency, JICA. The funds will enable Beninese authorities to finance the Project to Strengthen Drinking Water Supply Systems in the Departments of Couffo and Plateau, which is under development. Under this project, the Beninese government has chosen to exploit underground water resources to supply the populations of Couffo and Plateau, and to fight against water-borne diseases. Thus, new boreholes will be drilled in the two departments located in southern…

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ITFC issues US$44.9m financing to Senegal based ground nut oil processor to ensure ample raw material supply

SENEGAL – Senegal National Groundnut Company (SONACOS), has received Euro 40 million (US$44.9m) from the International Islamic Trade Finance Corporation (ITFC), to finance part of the 2021-2022 groundnut campaign. SONACOS is a public limited company that has operated in the groundnut sector in THE West African country 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 the value chain.…

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Coca-Cola Hellenic readies exponential growth in Egyptian market, plans US$1B investment

EGYPT – Coca-Cola HBC, the world’s third-largest Coca-Cola anchor bottler has revealed plans of pumping investments worth US$1 billion into the Egyptian market, after finalizing acquisition of Coca-Cola Bottling Company of Egypt (CCBCE). This was revealed by the board members of Coca-Cola Hellenic during a meeting with Egypt’s Prime Minister Mostafa Madbouli. Madbouli highlighted the government’s eagerness to provide all kinds of support to the private sector, due to its key role in creating new jobs and boosting the state’s economic growth. The premier praised the successful and prolonged investments…

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Ardagh Group invests US$200m in new UK can plant to meet rising demand in Europe

UK – Ardagh Metal Packaging (AMP), a division of Ardagh Group, is set to build a US$200 million beverage can facility near Belfast in Northern Ireland to meet rising demand from its customers in Europe.   The project is part of the firm’s multi-billion-dollar investment strategy to strengthen its recyclable metal packaging capacity in Europe, North America, and Brazil.   AMP’s CEO, Oliver Graham, said: “This exciting project is an important part of AMP’s global investment programme.   We are delighted to be investing in Northern Ireland, supporting our clients’ sustainability needs and further reducing our carbon footprint by…

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Monster Beverage mulls teaming up with Constellation Brands to unlock new revenue opportunities

USA – Energy drinks maker Monster Beverage Corp is reported to be exploring a potential deal with international beverage alcohol company Constellation Brands Inc, according to a report by Bloomberg.   The structure of a potential deal involving the companies, which have a combined market value of nearly US$92 billion, was not immediately known and it remains unclear if discussions will lead to a full merger or asset deal.   If the two companies decide to merge, it would create a beverage juggernaut with a combined market value of close to US$100…

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