Egypt’s wheat stockpile reaches sufficiency level until February 2020

EGYPT — Egypt, the world’s largest buyer of wheat, has built up enough grain reserves to accommodate consumption needs until February 2020, according to the country’s Supply Ministry. The news comes just a few days after the General Authority for Supply Commodities purchased 405,000 tonnes of Russian, French and Ukrainian wheat. In September, the U.S. Department of Agriculture (USDA) in a Global Agricultural Information Network report indicated that wheat production in Egypt is projected to increase 4% over the previous year to 8.7 million tonnes. According to World Grain, the…

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Pick n Pay opens next generation store concept to consolidate market presence

SOUTH AFRICA – Pick n Pay, supermarket chain store in South Africa has opened the refurbished-On Nicol store, in Johannesburg, strengthening the retailer’s Next Generation store concept aiming to attract more affluent consumers as retailers fight for market share intensifies. According to iol business report, its rival Shoprite has also introduced new FreshX concept stores to attract more affluent consumers as retailers compete with Woolworths. “The extensive upgrade at On Nicol strengthens the retailer’s Next Generation store concept with a strong emphasis on fresh food and convenience to create a…

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AfDB approves US$1m grant to boost food and nutrition in Angola

ANGOLA – The African Development Bank has approved a grant of US$1million to boost children’s food and nutrition security program in Bié province, Central Angola. This follows the submission of proposal for the grant for Emergency Food and Nutrition Security in September by the government after a severe drought hit the province, aggravated by below-average and erratic rainfall. This plunged 2.3 million people into a food security crisis, among which 49, 131 are estimated to be children under the age of five suffering from malnutrition. The humanitarian condition in the…

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International Breweries shareholders approve raising capital through Rights Issue

NIGERIA – The shareholders of International Breweries Plc have approved the company’s ‘Rights Issue’ as proposed by the Board of Directors and further authorised the board to take all steps required to give effect to the resolutions as approved. In a statement released to the Nigerian Stock Exchange (NSE), it read, “International Breweries Plc hereby notifies The Nigerian Stock Exchange that the Shareholders of the Company at the General Meeting held on 15 October, 2019 approved the Rights Issue as proposed by the Board of Directors and authorized the Board…

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Ethiopia Trade Ministry to fashion the National Laboratory with equipment worth US$5m

ETHIOPIA – Ethiopia’s Trade Ministry will be equipping the National Laboratory with Laboratory equipment worth US$5m to be procured with financial support from the World Bank. The equipment will be used for standardisation, accreditation and conformity assessments of export items i.e. agricultural, textile and leather products. The procurement is part of the National Quality Infrastructure Development Project, which aims to boost exports with 50 million dollars in financing from the World Bank. The project will benefit exporters, private quality assessment service providers and regulatory authorities reports Addis Fortune. For the…

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Islamic Development Bank finances US$26m livestock production project in Gambia

GAMBIA – Gambia’s Ministry of Agriculture has launched a US$26m small ruminant production and enhancement project with financing from the Islamic Development Bank (IDB). The small ruminant production and enchantment project is a four-year initiative and will be financed through a two-step finance approach focusing on four major areas. According to the Minister of Agriculture Amie Fabureh, “The focus is on enhancing small ruminant development through herd health support mechanism, increasing productivity through genetic improvement and improved feed system, production and marketing management, innovation of portion processing techniques and access…

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Naivas widens footprint at the Coast of Kenya with 56th branch

KENYA – Kenyan retail chain Naivas supermarkets has opened its 56th branch in Kenya’s Coastal region, Mombasa’s Central Business District, as part of its expansion plan targeting other regions outside Nairobi where most of its growth has happened. The new branch is located along the busy Digo road right next to Bima Towers, occupying at least 22,000 square feet of retail space. This brings its total number of outlets countrywide to 56 after it opened its 55th and 3rd branch in Ngong town last month. “Our target is to serve…

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Choppies opens bid for its South African assets in refinancing plan

SOUTH AFRICA – Choppies Enterprise has opened bids for its 88 stores in South Africa to settle its outstanding debt until the 28th of this month to expedite the sale process. In August the Botswana retailer had identified its South African business as distressed and earmarked for disposal together with its Tanzanian business which they have started to receive interest on. In addition, its Kenyan operations is continuing with its offloading process. Beginning of the month, the retailer closed its third outlet in Kenya following its prior closure of its…

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Danish beverage company launches SMA SHOTS into the Nigerian Market

NIGERIA – Spivi, Danish beverage firm has launched a new product known as SMA SHOTS into the Nigerian market. SMA SHOTS come in two flavours i.e. strawberry flavour package in a red bottle and strong menthol flavour in a black bottle. It has a lower alcohol content and tasty, made mostly for the young crowd. Packaged in an angelic and longer than normal bottle, it is easily noticeable with unique colours. The Scandinavian beverage company has been exporting SMA SHOTS in several countries like Denmark, Norway, Sweden, Finland, Germany, Japan…

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Ethiopian government flags off construction of US$167m irrigation projects

ETHIOPIA – Ethiopia’s Ministry of Water, Irrigation & Energy has began the construction of three irrigation dams in Oromia Regional State, Southern Ethiopia at a total cost of 4.9 billion Br (US$167m). Located in Chelchel Raytu Bale, Welmel Bale and Upper Guder areas, the dams are expected to irrigate 20,000ha of land and benefit 39,000 households, reports Addis Fortune. The three dams, which will create jobs for as many as 1,000 people, will be completed within two to three years, according to Leliso Edoshe, director of contract administration and design…

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