Ezdehar acquires stake in Egyptian convenience foods manufacturer Rich Food Industries

EGYPT – Ezdehar Management, a private equity fund manager through its first fund, the Ezdehar Egypt Mid-Cap Fund has acquired an undisclosed stake in Rich Food Industries, a fast-growing manufacturer of convenience foods focused on […]

Malawi Agricultural and Industrial Investment Corporation launched

MALAWI – The newly established Malawi Agricultural and Industrial Investment Corporation (MAIIC) is now in full force to drive private sector led economic development in the country. MAIIC chief executive officer, Taziona Chaponda said during […]

African Development Bank approves US$124.2 million loan for water sector reforms in Nigeria

NIGERIA – The Board of Directors of the African Development Bank have approved a US$124.2 million loan to finance the Urban Water Sector Reform and Akure Water Supply and Sanitation Project in Nigeria to address […]

Varun Beverages Zimbabwe commission US$20m manufacturing plant

ZIMBABWE – Varun Beverages Zimbabwe (Pvt) Limited, franchise bottler of PepsiCo in the country has officially commissioned the US$20 million second phase of its manufacturing plant in Harare. Varun Beverages produces brands that include Pepsi, […]

PE firm DOB Equity invests in Tanzanian vanilla flavour manufacturer NEI

TANZANIA – Dutch DOB Equity, a family-backed impact investment firm has invested in Natural Extracts Industries (NEI), a natural vanilla flavour manufacturer, based in Moshi, Tanzania. NEI sources green vanilla pods from small-holder farmers in […]

Kenyan agri-tech startup Farmshine secures funding from American investor

KENYA – Kenyan agri-tech startup, Farmshine, has raised US$250,000 investment from US-based impact investor Gray Matters Capital’s gender lens sector-agnostic portfolio coLABS (GMC coLABS) to expand its operations. Farmshine operates a global agriculture platform where […]

Bidco Africa and Land O’Lakes commission US$12m upgraded animal feed plant

KENYA – Edible oils manufacturer, Bidco Africa, has teamed up with American conglomerate Land O’Lakes to invest KSh1.2 billion (US$12m) in the upgrade of an animal feed factory in Nakuru, Central Kenya. According to Business […]

Kenyan speciality tea processor secures seed capital from Sinapis

KENYA – Tumoi Tea, a Kenyan speciality tea processor start up has bagged US$10,000 seed capital from Sinapis, a global business accelerator during their annual business plan competition held in Nairobi, Kenya. Tumoi Teas produces […]