KENYA – Nearly two million bags of maize will be released from the strategic grain reserve to millers at a lower price to curb the rising cost of flour.
NIGERIA – Shareholders of Flour Mills of Nigeria Plc have endorsed plan by the company to raise N40 billion through a rights issue to existing shareholders.
KENYA – Bread maker Broadway Limited is set for a Sh1 billion expansion of its Thika milling plant that will be partly funded by Barclays Bank.
KENYA – Cereal processor Weetabix East Africa is targeting to cut its wheat imports by 50 per cent and instead start buying the grain from local farmers.
KENYA – Millers are lobbying to import duty-free wheat after they exhaust what’s available from local farmers.
ETHIOPIA – The Public Procurement & Property Disposal Service (PPPDS), on behalf of the Ethiopian Grain Trade Enterprise (EGTE), has finally awarded two companies a 2.4 million quintal purchase of wheat at 1.08 billion Br in its latest closed bid.
NAMIBIA – Namib Mills has reacted swiftly to restore its company’s image and to dismiss any consumer concerns amid allegations that its leading maize brand, Top Score, contains a high percentage of Genetically Modified Organisms (GMOs).
KENYA – High prices set by the government has slowed down the sale of old maize stocks by the National Cereals and Produce Board, the chief executive said on Friday.
KENYA – Top managers at Haco Tiger Brands, a company co-owned by billionaire businessman Chris Kirubi and a South African firm, have been accused of profit manipulation in a scandal that has seen the managing director fired.
SOUTH AFRICA – East Africa is high on Pioneer Food’s radar, as the food producer looks to Africa’s booming economies to boost growth.