Diageo maintains organic sales forecast despite uncertainties in global trade policies

UK – Multinational spirits maker, Diageo said that it expects to meet its full-year organic sales targets, adding that it had a good start to 2020 financial year. In a trading commentary ahead of the […]

Cargill to sell its interest in asset management subsidiary CarVal Investors

USA – Cargil has agreed to sell its ownership and economic interest in CarVal Investors to a partnership comprised of the firm’s senior management team. CarVal Investors is an alternative investment fund manager and independently […]

Rhodes Food reports single digit growth in turnover amid challenging environment

SOUTH AFRICA – Rhodes Food Group, a South Africa-based producer of fresh, frozen and long-life convenience meal solutions reported 8.8% growth in turnover for its African operations during the 10 months ended July 2019. The […]

Ghana’s Niche Confectionery secures US$8.82m financing to expand production capabilities

GHANA – Niche Confectionery Ltd, a chocolate manufacturer and subsidiary of Niche Cocoa Ltd Ghana has signed a US$8.82 million financing agreement with The Netherlands Development Finance Company (FMO) to support expansion of its cocoa […]

Famous Brands reports growth in half year sales despite straining UK business

SOUTH AFRICA – Famous Brands, South African restaurant franchisor has reported a 6% rise in systemwide sales for half year ended August 2019 despite a slump in sales at Gourmet Burger Kitchen (GBK) as it […]

Commodity trading platform Binkabi partners Unity Bank to boost agricultural lending

NIGERIA – Binkabi, Nigeria’s blockchain based commodity trading network has partners with Unity Bank Plc to launch an agro-commodities trade platform to improve lending of the agriculture sector. Binkabi is a platform for issuing trading […]

Botswana retailer Choppies Supermarket to exit Kenyan market

KENYA – Botswana based Choppies Supermarket has revealed plans to exit the Kenyan market four years after acquiring Ukwala stores for US$10m (Sh1bn) following challenges of growth and financial constraints. The Botswana retailer started as […]

Fonterra delays annual results reporting date to finalize accounts after write-downs

NEW ZEALAND – Fonterra has advised a change of date for reporting its audited financial results for the financial year ending 31 July 2019. The dairy cooperative, which was previously expected to report the financial […]

Cargill plans US$120.5m investment in expanding Côte d’Ivoire’s cocoa grinding plant

CÔTE D’IVOIRE – Multinational agribusiness company, Cargill has unveiled plans of investing US$120.5million in expanding its cocoa grinding plant in Micao, Côte d’Ivoire, reports Ecofin. The investment will see the company increase the facility’s annual […]

Yili posts strong half-year results as its global expansion gains momentum

CHINA – Yili Group, a state-owned Chinese dairy company, posted net profit of RMB 3.8bn (US$505 million) during its first half of 2019, supported by continuous expansion in Southeast Asia. Yili’s global operating revenue grew […]