AB InBev fishes out for innovative ideas through Beer Garage Africa Innovation Challenge

AFRICA – AB InBev, world’s renowned beer company, AB InBev has partnered with Hindsight Ventures to launch the Beer Garage Africa Innovation Challenge, which will offer startups access to venture development and grant funding. With over 500 brands and over six million B2B customers in over 100 countries, AB InBev launched Beer Garage a few years ago with the objective of driving innovation by building a strong community of ecosystem stakeholders. As part of this initiative, the beer major is now launching the Beer Garage Africa Innovation Challenge, a pan-African…

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AfDB promotes agribusiness in São Tomé and Príncipe with US$10.7m grant offered to SMEs

SÃO TOMÉ AND PRÍNCIPE – The African Development Fund (ADF), an entity of the African Development Bank Group, has issued a grant of US$ 10.7 million to São Tomé and Príncipe for the implementation of the first phase of the Zuntámon Initiative, focused to supporting growth of SMEs in agriculture industry. The Zuntámon Initiative will focus its interventions on commodities to which women and youth are actively contributing, as well as export products with high growth potential such as cocoa, coconut and horticultural products. The focus on these products and…

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Afri-Plastics Challenge shifts to second strand seeking new solutions to reduce plastic usage across Sub-Saharan Africa

AFRICA – The government of Canada in partnership with Nesta Challenges, have launched the second strand of the Afri-Plastics Challenge, focusing on creating solutions. This strand invites individuals or organisations with a new or early-stage idea that seeks to reduce or eliminate plastic usage across Sub-Saharan Africa to apply for the Afri-Plastics Challenge. The challenge’s first strand, Accelerating Growth, was launched in July 2021 and it is ongoing, showcasing the best innovations designed to improve plastic waste management in a socially and environmentally responsible way. For the second strand, Creating…

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AfDB to equip 40 million farmers with modern, climate resilient technologies by 2026

AFRICA – The African Development Bank (AfDB) has announced plans to reach over 40 million farmers with modern and climate resilient technologies in the next five years. According to the multilateral financial institution, its Feed Africa Strategy through its Technologies for African Agricultural Transformation (TAAT) programme has so far provided 11 million farmers across 29 African countries with proven agricultural technologies for food security. The AfDB maintained that food production has expanded by 12 million metric tonnes under the initiative while saving US$814 million worth of food imports. The President,…

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NEOGEN, Hendrix Genetics partner to introduced improved poultry stock breeds in Africa

AFRICA – Hendrix Genetics, a multi-species animal breeding, genetics and technology company, has partnered with NEOGEN Corporation, maker of comprehensive solutions dedicated to food and animal safety, to improve poultry genetic performance in Africa. NEOGEN’s animal safety segment is a leader in the development of genomic solutions along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care, and disinfectants. Under the partnership, the company will support the implementation of genomic selection into Hendrix’s Sustainable Access to Poultry Parent Stock in…

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Dubai’s food, beverage trade with Africa hits 4-year high at US$2.4 billion in 2020

AFRICA – As the world moves closer to achieving a global economy, Africa is fast emerging as one of the most important markets for the United Arab Emirates. Dubai’s food and beverage (F&B) trade with Africa hit a four-year high at US$2.4 billion in 2020, according to a recent analysis by the Dubai Chamber of Commerce and Industry. The value of trade last year, which doesn’t include tobacco, was 18 percent higher compared to the previous year and the highest since 2017. During the five-year period 2015 – 2020, the…

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Sahel Capital, KfW launch US$24m Social Enterprise Fund for Agriculture in Africa

SUB-SAHARAN – Sahel Capital, a private equity firm, has launched a US$24 million Social Enterprise Fund for Agriculture in Africa (SEFAA), sponsored by the German development bank, KfW. Sahel will act as investment adviser to SEFAA, an impact fund with the goal of reducing poverty by investing in social agricultural enterprises (SAEs) in sub-Saharan Africa. In addition to SEFAA’s targeted impact of reducing poverty through its investments, the fund is also expected to create and preserve jobs and deliver on six of the UN sustainable development goals (SDGs 1, 2,…

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Condiment maker GBfoods attains full ownership of Africa’s operations

AFRICA – Global culinary products manufacturer GBfoods has undertaken a share buy-back at its African unit GBfoods, from private equity investment firm Helios Investment Partners. Established in 2017, GBfoods Africa was a joint venture created by Helios and GBfoods through the combination of GBfoods’ existing bouillon cubes business in Africa and the acquisition of brands Gino, Pomo, Jago, and Bama. Under the new deal, Helios has sold its 49% stake in the company to its partner and co-shareholder, after successful execution of its value creation strategy which has resulted in…

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PepsiCo lays down strategies to drive sustainability across its operations in sub-Saharan Africa

AFRICA – PepsiCo has heightened its commitment to the sub-Saharan market under the newly launched Pep+ (Pep Positive) plan, a strategic end-to-end transformation initiative with sustainability at its core, aimed at inspiring positive change for the planet and its people. Pep+ is aimed to guide the food manufacturer on how to transform its business operations: from sourcing ingredients, making and selling its products in a more sustainable way. This is as it leverages on its more than one billion connections with consumers each day to take sustainability mainstream and engage…

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AfDB unveil initiative to secure climate-resilient water and sanitation services in 5 drought-prone countries

AFRICA – The African Development Bank, in partnership with the Nordic Development Fund and the Government of Denmark are seeking to roll-out a program to strengthen access to climate-resilient water and sanitation resources in Burkina Faso, Ethiopia, Mali, Niger and Somalia. The new initiative is set to enhance the sustainability of water systems through the construction or upgrade of existing infrastructure. Under the program, the partners will support feasibility studies to prepare bankable projects that contribute to increased financing for water, sanitation and hygiene services, improving human health, child education…

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