Local investors eyeing stake in Zimbabwe Glass Holdings

ZIMBABWE – Two local Zimbabwe companies are angling for a shareholding in Zimbabwe Glass Holdings, a wholly owned subsidiary of the state enterprise, Industrial Development Corporation of Zimbabwe. Zimbabwe Glass Industries who are the sole manufacturers of glass packaging in Zimbabwe, was closed in September 2010 for refurbishments but the company failed to secure funding, leading to its placement under judicial management in 2014. About US$10 million is required to revive the plant, whose bulk of equipment is now beyond repair. The only most valuable asset owned by Zimglass is…

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Zambia Cooperative Federation acquires majority stake in Kasama milling

ZAMBIA – The Zambia Cooperative Federation (ZCF) has entered into an equity partnership with Kasama Milling to own 70% shares in the milling company in bid to reduce the mealie meal prices. As a result of this partnership, 25kg bag of breakfast is costing K135 while 25kg bag of roller is K125 as opposed to K160 charged in most parts of the country. According to ZCF Director General James Chirwa, the federation wants to take a leading role in terms of industrializing rural areas. “We want to be the key…

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Kenyan government sets new reforms to govern the agriculture sector

KENYA – Kenyan tea farmers are set to reap big following President Uhuru Kenyatta’s directive targeting only 20 percent of local tea produce to be sold at the Mombasa Tea Auction while the remaining 80% sold directly to prospective buyers to improve farmers earnings. In addition to that, the President directed radical restructuring measures of Kenya Tea Development Agency (KTDA) and its subsidiaries to have their own respective management and regularly publish results of their sales. The Agriculture ministry is also expected to explore the option of KTDA paying farmers…

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Kenyan government rolls out anti-aflatoxin farm input country wide

KENYA – The government of Kenya has contracted a biological crop protection company, Koppert Biological Systems to distribute Aflasafe, a natural product that fights aflatoxin, to all farmers in the country. This follows the recent occurrence of cases of the prevalence of Aflatoxin in food stuffs in the Kenyan market such as Maize meal, milk and peanut butters which has led to some of the brands recalled. Agriculture Principal Secretary (PS) Prof. Hamadi Boga said that Aflasafe, a new technology developed a few years back to fight Aflatoxin in maize,…

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Mumias Sugar set to re-embark on ethanol production as part of the millers revival plan

KENYA – Mumias Sugar Company is expected to resume ethanol production Friday, 17th January 2020 after reconnection of power supply to the factory. Mr Ponangipalli Venkata Ramana Rao, the receiver-manager appointed by Kenya Commercial Bank (KCB) to oversee the revival of the miller said yesterday a team from Kenya Power had visited the factory to inspect transformers before reconnecting the power supply. “We are set to start ethanol production by Friday as we finalise plans to resume milling operations. Everything is so far moving according to plan,” he said. The…

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Rwandan government sells Burera Dairy Ltd to Zimbabwean investor Afrisol

RWANDA – African Solutions Private Ltd (Afrisol), a Zimbabwean firm which has been investing in Rwanda over the past two years, has bought off the 98.3% shareholding in Burera Diary Limited from the Rwanda Government. Mid last year the Rwanda Development Board (RDB), put three government owned companies up for sale, calling for expression of interest by private players in its efforts of promoting efficiencies in the agribusiness companies. Burera Diary Ltd was one of three public firms, alongside Nyabihu Potato Company and Rutsiro Honey Ltd. Sources say that the…

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A.T Kearney’s retail development index finds economy development, trade policy greatest factors influencing global retail growth

AFRICA— A.T. Kearney’s Global Retail Development Index (GRDI)reveals that economic development and trade policy remain the largest factors in shaping retail growth in consumer markets. While social media and e-commerce fuel the evolution of global consumers, national, regional and local realities, such as internet connectivity and the availability and cost of labour, continue to shape retail development globally, the GRDI noted. The 2019 GRDI ranks 30 developing countries on a scale of zero to 100, selected from a list of 200 nations based on three criteria. These criteria include achieving…

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French retailer Carrefour opens its first hypermarket store in Uganda

UGANDA – Carrefour Group, through its regional franchise holder Majid Al Futtain Group (MAF) has officially opened its first hypermarket store in Uganda following successful launch of the retail business in Kenya. Opened at the Oasis shopping mall in Uganda’s capital, Kampala, the store covers 2800 m² area, housing more than 20,000 local and international branded products. The entry of the retailer into the second East African country, has boosted its economy as they have so far recruited 130 Ugandan employees, contracted 60 external local companies and engaged 230 Ugandan…

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Agriculture enterprises to benefit from new USAID, Awash bank finance partnership

ETHIOPIA — The U.S. Agency for International Development (USAID) and Awash Bank have announced a new partnership that will make up to US$6.4 million in financing available to microfinance institutions and small- and medium-sized agricultural businesses in Ethiopia. Under a USAID Development Credit Authority (DCA) agreement, this program will expand commercial bank lending into underserved areas. It will also provide the private capital needed to help farmers and businesses intensify production, and support Ethiopia’s efforts to modernize its agricultural sector. “We believe that the current engagement with USAID strengthens the…

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Ezdehar acquires stake in Egyptian convenience foods manufacturer Rich Food Industries

EGYPT – Ezdehar Management, a private equity fund manager through its first fund, the Ezdehar Egypt Mid-Cap Fund has acquired an undisclosed stake in Rich Food Industries, a fast-growing manufacturer of convenience foods focused on the animal protein segment in Egypt. With its innovative and high-quality product range, Rich Food has rapidly grown its market share since its establishment in 2009 with strong presence in modern grocery retailers.  The Company offers a range of innovative products across both the chilled and frozen meat segments including beef, poultry and turkey with…

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