Massmart half-year profit down 25%
SOUTH AFRICA – Retailer Massmart reported a 25.2% fall in half-year profit on Thursday as debt-laden consumers battling rising living costs cut back on spending.
LATEST NEWS
Rebasing: Nigerian economy now worth N81tn
NIGERIA – The National Bureau of Statistics (NBS) has revised the size of Nigerian economy to about N81.009 trillion following it latest final rebasing of the country’s Gross Domestic Product (GDP), using the Expenditure Approach between 2010-2013.
Nestle hires Swiss as new CEO for its Nairobi hub
KENYA – Food maker Nestlé has hired Swiss national Cornel Krummenacher as chief executive for its Nairobi hub, which oversees the Equatorial Africa market.
Nestle hires Swiss as new CEO for its Nairobi hub
KENYA – Food maker Nestlé has hired Swiss national Cornel Krummenacher as chief executive for its Nairobi hub, which oversees the Equatorial Africa market.
Nigerian cocoa growers’ shipments halt over levy dispute
NIGERIA – Cocoa shipments from Nigeria’s second-largest grower Cross River halted this week after merchants and the state government disagreed over the payment of an export levy, the Cocoa Association of Nigeria (CAN) said.
Flour Mills promises cnsistent growth, profitability
NIGERIA – Flour Mills of Nigeria (FMN) has said it is well positioned to enhance profitability and deliver long term value to its numerous stakeholders.
Dairy leads Nigerian food sector with N347bn revenue
NIGERIA – The dairy sector has emerged the second largest segment in the food and beverage industry in Nigeria with estimated revenue of N347 billion in 2013 and an estimated compounded annual growth rate (CAGR) of 8 per cent over the last three years.
Dairy leads Nigerian food sector with N347bn revenue
NIGERIA – The dairy sector has emerged the second largest segment in the food and beverage industry in Nigeria with estimated revenue of N347 billion in 2013 and an estimated compounded annual growth rate (CAGR) of 8 per cent over the last three years.
Alpha Omega gets new equipment
ZIMBABWE – Alpha Omega Dairy expects to increase production of its Munandi Lacto four-fold to two million litres per month from next month following the arrival of new equipment to be commissioned “soon”.
‘Cadbury Nigeria’s brand losing market share’
NIGERIA – Cadbury Nigeria Plc’s flagship brand, Bournvita may be losing its market share to Nestle Nigeria’s Milo, following the uninspiring performance recorded by the former in its half year results for the period ended June 30, 2014, a report has stated.
‘Cadbury Nigeria’s brand losing market share’
NIGERIA – Cadbury Nigeria Plc’s flagship brand, Bournvita may be losing its market share to Nestle Nigeria’s Milo, following the uninspiring performance recorded by the former in its half year results for the period ended June 30, 2014, a report has stated.
United Refineries gets $15m boost
ZIMBABWE – Bulawayo-based fast moving consumer goods company United Refineries Ltd, says capacity utilisation has increased to 65 percent on cooking oils from as low as 30 percent boosted by a $15 million capital injection from a new investor.
United Refineries gets $15m boost
ZIMBABWE – Bulawayo-based fast moving consumer goods company United Refineries Ltd, says capacity utilisation has increased to 65 percent on cooking oils from as low as 30 percent boosted by a $15 million capital injection from a new investor.
Distell earmarks R500m for its foray into the rest of Africa
SOUTH AFRICA – Distell Group has earmarked more than R500m for investments into various African countries and it will partly fund the war chest through a cost saving and supply chain efficiency programme, the liquor group said on Monday.
Katsande exits Nestle
ZIMBABWE – Nestle Zimbabwe Limited (Nestle) managing director Kumbirai Katsande is set to step down from the helm of the Swiss multinational local unit at the end of September after a four-year stint.
Katsande exits Nestle
ZIMBABWE – Nestle Zimbabwe Limited (Nestle) managing director Kumbirai Katsande is set to step down from the helm of the Swiss multinational local unit at the end of September after a four-year stint.
Nakumatt set to open new store in Bamburi
KENYA – Nakumatt two weeks ago opened the second of the three branches in Dar es Salaam, bringing to 50 the total number of Nakumatt stores across Kenya, Uganda, Tanzania and Rwanda.
Nakumatt set to open new store in Bamburi
KENYA – Nakumatt two weeks ago opened the second of the three branches in Dar es Salaam, bringing to 50 the total number of Nakumatt stores across Kenya, Uganda, Tanzania and Rwanda.
KFC to open more branches
ZIMBABWE – International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country.
KFC to open more branches
ZIMBABWE – International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country.
MAZ urges govt to boost maize storage capacity
ZAMBIA – The Millers Association of Zambia says the government needs to urgently review storage capacity in view of the overwhelming amount of maize collected during the current crop marketing season.
Maize prices fall in North Rift on high supply
KENYA – Maize prices in the North Rift have hit their lowest level in eight months as farmers release the produce they have been hoarding, further easing pressure on the cost of flour.
Palm oil drops below 2,000 Ringgit first since 2009 on glut
MALAYSIA – Palm oil tumbled below 2,000 ringgit ($633) a metric ton for the first time in more than five years as forecasts for a record U.S. harvest of soybeans used to produce alternative oil threaten to curb demand.
Palm oil drops below 2,000 Ringgit first since 2009 on glut
MALAYSIA – Palm oil tumbled below 2,000 ringgit ($633) a metric ton for the first time in more than five years as forecasts for a record U.S. harvest of soybeans used to produce alternative oil threaten to curb demand.