Kenya’s leading meat processing company QMP Group set for growth following Tana Africa Capital’s investment

KENYA – Mauritius based holding company, Africa Protein Holdings Limited, owners of Quality Meat Packers Ltd and Anirita Poultry Farm Plc, have received backing from Africa-focused investment company, Tana Africa Capital. The leading Pan-African private equity firm has undertaken the equity investment through its second fund Tana Africa Capital II, acquiring a minority stake in the company for an undisclosed amount. The Velji family remain the majority owner of the business, with the support aimed to transform its Kenya based business, QMP Group, into a leading African meat processing company…

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Kenyan integrated food producer SimpliFine taps into fast growing frozen food, ready-to-cook segment

KENYA – SimpliFine, a food production company offering accessible, locally sourced meat, vegetables, baked goods and other foods to restaurants, hotels, and retailers across East Africa, is set for a rapid expansion in the Kenyan market. This follows the acquisition of Alpha Fine Foods, a Kenyan producer of premium meat products, by its parent company BlackIvy. As part of its endeavours of expanding its market share in the country, SimpliFine is launching 19 new meat and vegetarian products. These include frozen meats, prepared meal accompaniments and a range of ready-to-cook…

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Ghana suspends importation of poultry from neighboring countries following bird-flu outbreak

GHANA – Ghana is on high alert following reported cases of spread of the highly pathogenic Avian Influenza in the country, that could affect about 600,000 farm animals. The West African country has confirmed an outbreak of the bird flu in seven farms located at the Greater Accra, Volta and Central regions. According to Patrick Abakeh, Director of veterinary services at the Ministry of Food and Agriculture (MoFA), nearly 6,000 birds were found to have died of the H5N1 avian flu, with the veterinary department forced to destroy 4,500 chickens…

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Zambeef offers lucrative prices to Zambian pig farmers to boost production, pork supply

ZAMBIA – Zambian Integrated cold chain food products and agribusiness company Zambeef, has of last year doubled the price it pays local pig farmers, in a bid to boost home-grown production and encourage more participation in the sector. This is also to keep pace with the continued consumer demand of pork, in the midst of a drop in pig supply due to outbreaks of swine fever. The sector has also been wallowing in the impacts of the drought experienced in 2019/20, which has pushed feed ingredient prices up and the…

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Kenya’s Lake Region Economic Block to benefit from US$1.1m fish processing plant

KENYA – Kenya’s county government, Kakamega, has commissioned a fish processing plant with a capacity to process 30 metric tonnes of fish per day, providing a ready market for farmers in the 14-member Lake Region Economic Block (LREB). The facility which has been under construction since 2009, received initial financial backing of Ksh. 60 million from the National Government with the county government spending another Ksh20m. To propel the finalization of the project, the investor running the factory, DAS Limited invested Ksh40 million. “The County Government appreciates our partners, the…

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Nestlé partners Future Meat to explore emerging technologies for cultured meat

SWITZERLAND – Swiss food manufacturing giant Nestlé  is exploring emerging technologies for cultured meat, a novel concept that is quickly gaining popularity as a more environmentally friendly alternative to animal protein.  The company in a statement said it is evaluating innovative technologies to produce cultured meat or cultured-meat ingredients with several external partners and start-ups.   Future Meat Technologies, a leading cultured-meat start-up, is one of the startups that Nestlé  has said it is working with to explore the potential of cultured-meat components that do not compromise on taste or sustainability.  “Future Meat Technologies’ novel…

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USDA to invest US$500m in enhancing resiliency, competitiveness in US meat industry

US – The United States Department of Agriculture is committing more than US$500 million to expand meat and poultry processing capacity, as part of efforts to increase competition in the market.  The pledge comes after President Joe Biden enacted a new executive order aimed at cracking down on anti-competitive practices in major sector sectors of the economy including agriculture, healthcare, and technology.     According to the USDA, key agricultural markets have become more concentrated and less competitive; with farmers and ranchers having fewer options to sell their products.  In the new US$500 million Initiative, the department will…

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Shane Smith to succeed Dennis Organ as Smithfield Foods President and Chief Executive Officer

US – Smithfield Foods, Inc., an American food company with agricultural roots and a global reach, has appointed Shane Smith to succeed Dennis Organ as president and chief executive officer.   Smith, a two-decade veteran of the company and, most recently, its chief strategy officer, will take over the role immediately, according to a statement from the company.  Prior to becoming chief strategy officer, Mr. Smith served as executive vice president of Smithfield’s European operations where he oversaw the company’s operations, capital investments, expansion into new markets, and mergers and acquisitions abroad.   Today, Smithfield’s European operations encompass nearly 18,000 employees, 21 processing facilities, 58…

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Kenyan based aquaculture entity Victory Farms ropes in new investor, gets multi-million-dollar backing

KENYA – East Africa’s largest commercial fish farm, Victory Farms, has received a multi-million-dollar mezzanine debt investment from social impact investor specializing in the African agriculture sector, AgDevCo. The investment will support the company’s continued growth and impact, including the construction of a feed mill and expansion into new countries in the East Africa region, growing its foot prints beyond Kenya. Founded in 2015, Victory Farms operates a vertically integrated business, with its own hatchery, nursery ponds and deep-water cages in Lake Victoria, plus a processing plant and a distribution…

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Indian animal protein startup Licious raises US$192m to fund future growth plans

INDIA – Licious, a direct-to-consumer fresh meat and seafood brand, has raised US$192 million in a Series F funding round led by Singapore-based investment firm Temasek and PE firm Multiples.   Brunei Investment Agency also invested in the round, which saw participation from existing investors including 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund, and Vertex Ventures Southeast Asia and India.  Founded in 2015, Lucious operates five processing centers more than 90 delivery centers across all 14 Indian cities where it currently has a presence.  The company owns and operates the entire back-end supply chain, and controls a stringent cold chain to maintain the quality and freshness of its…

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