Maharashtra government to start online sale and home delivery of liquor

INDIA - The state government of Maharashtra is planning to legalize online sale and delivery of liquor at home in the state, the first in the country that will see sale of alcohol on ecommerce platforms. Such a bold move represents the government’s effort to control drunk driving, Times of India reports. "The main objective…

Hindustan Unilever posts 19.5% rise in profit to US$207m in second quarter

INDIA - Mumbai based consumer goods company, Hindustan Unilever has reported a 19.51% increase in net profit to US$207.33 million on account of double-digit growth across categories in the second quarter. According to the company’s regulatory filings, sales during the quarter under review stood at US$1.24 billion against US$1.11 billion in the year-ago period, up…

Nestle Nigeria partners with Lagos Business School on a Sales Academy

NIGERIA - Nestle Nigeria has collaborated Lagos Business School to start a Sales Academy geared at training and equipping its employees in line with its commitment to create an environment that allows people to learn, grow and thrive in each country where it operates, ThisDay Newspaper reveals. According to the company, the academy will deploy…

Zambia restricts maize exports to ensure food security

ZAMBIA - The government of Zambia has unveiled an administrative measure on the export of maize to neighbouring and other countries, a move the Minister of Agriculture Michael Katambo said was to ensure food security in the nation, reports Lusaka Times. According to him, the measure was not a ban but a temporary strategy attributed…

Agricultural Trust disburses US$87m for boosting agric development operations

ZIMBABWE - The Zimbabwe Agricultural Development Trust (ZADT) has provided US$87.5 million towards funding small-holder farmers and agribusinesses as it seeks to boost their operations. The Herald reports the disbursement goes to almost 530,000 beneficiaries, 26% of which are women, something in line with the government’s drive to economically empower women. According to ZADT chief…

Pick n Pay’s half year profits grow 19.1% on gains to price cuts

SOUTH AFRICA - The retailer supermarket Pick n Pay has said that half-year profits before tax grew by 19.1% to US$47.17 million boosted by massive price cuts that attracted more shoppers into its stores, reports IOL Business report. Headline earnings per share grew by 80.5%, excluding the impact of voluntary severance costs from last year’s…

Hearthside Food Solutions signs agreement to acquire Greencore USA

USA - Hearthside Food Solutions, a leading contract manufacturer, has announced the signing of a definitive agreement to acquire Greencore USA, a leader in frozen contract packaging and a top producer of refrigerated, fresh-made sandwiches, entrees, and salad kits. According to the company, the transaction marks a significant step in the further growth and development…

Famous Brands earnings to be hit by US$61m impairment from UK Gourmet Burger

SOUTH AFRICA - South African restaurant franchisor Famous Brands has announced that it expects to register US$61.06 million (R874m) impairment from its UK restaurant business, GBK which has failed to meet performance expectations, according to IOL Business Report. Gourmet Burger Kitchen it acquired in 2016 for US$146.6m has been recording losses as trading conditions continue…

RLJ Group to invest US$100m in revamping fishing industry

LIBERIA - The government of Liberia is set to receive US$100 million investment into the fishing industry from RLG Group, an innovative business network that provides strategic investments in a diverse portfolio of companies. The proceeds will go towards improving the fish industry through the development of fishing depots and the building of fish processing…

Parliament approves US$10m Agro-Business financing agreement with IDA

SIERRA LEONE - Members of parliament of the republic of Sierra Leone have approved the US$10 million agro-business financing agreement between the government and the International Development Association, reports Concord. The investment aimed at improving the agro-business sector, will focus on promotion of an enabling environment and reduce the burden and constraints faced by agro-business…