NIGERIA – But for the N23.7 billion gain realised from the sale of its remaining 15 per cent stake in United Cement Company of Nigeria (UCC) Limited, Flour Mills of Nigeria (FMN) Plc would have ended its nine months results period ended December 31, 2015 with a loss of about N3.9 billion.
SOUTH AFRICA – SA will most likely harvest 7.44-million tonnes of maize in 2016, 25% less than the 9.94-million tonnes reaped last year, because of a scorching drought, the Crop Estimates Committee (CEC) said on Wednesday.
ZIMBABWE – Zimbabwe has secured a $200 million loan facility from the Afreximbank for maize imports to avert hunger, central bank governor has said.
KENYA – The Competition Authority of Kenya (CAK) has cleared millers of price-fixing claims, throwing the government back to the drawing board in its bid to keep flour prices down.
NIGERIA – Honeywell Flour Mills Plc (HFMP), one of Nigeria’s leading milling companies has appointed of Mrs Oluseye Sandey to its Board in a bid boost the profile of the Board, and expand its capabilities.
NIGERIA – The Delta State government is determined to sell the multi-million naira Cassava Processing Factory limited to competent investors in its efforts to make investments from cassava outstrip the income from crude oil.
NIGERIA – Diverrsified commodity trader Olam International Limited has acquired Amber Foods Limited, a Nigerian miller and pasta producer for US$275 million.
ZAMBIA – Government has called on the private sector to invest in grain storage facilities as the Food Reserve Agency (FRA) silos can only hold 900,000 metric tonnes of cereal.
SOUTH AFRICA – SA may need to import as much as 5-million tonnes of maize this year, roughly half of its requirements, because of the worst drought in three decades, SA’s largest producer group said on Wednesday.
SOUTH AFRICA – Consumer brands giant Pioneer Foods believes new investment in its bakery division could unlock value in the 2016 financial year.