Uchumi Supermarkets receives US$6.39m write off in financial restructuring plan

KENYA – Kenyan retailer, Uchumi Supermarkets has been granted leeway by commercial banks who have agreed in principle to write off and restructure a debt settlement plan of outstanding credit owed by the Supermarket chain […]

RCL Foods reports full year loss amid challenging operating environment

SOUTH AFRICA – The South African consumer goods and milling company, RCL Foods has reported an after-tax loss of R184m (US$12.08m) for the year ending June 2019, as increased pressure on its sugar and chicken […]

Stock exchange suspends Tongaat Hullet’s Zimbabwe unit

ZIMBABWE – The Zimbabwe Stock Exchange (ZSE) has suspended Tongaat Hullet Zimbabwe’s subsidiary, Hippo Valley Estates Limited, from trading its shares on the local bourse. According to the stock exchange, the follows the sugar giant’s […]

A2 Milk reports 41.4% growth in revenues boosted by performance in China

NEW ZEALAND – The milk and infant formula products company, A2 Milk reported a 41.4% growth in full year revenue to US$830.2 million (NZD1.3 billion), on strong results in China. During the most recent twelve […]