Coca-Cola Beverages Africa officially sets up business in Lesotho, acquires Maluti Mountain Breweries

LESOTHO – Coca-Cola Beverages Africa (CCBA) has now expanded its operations into Lesotho with the acquisition of Maluti Mountain Breweries’ interest in the soft drinks business and renamed it Coca-Cola Beverages Lesotho (CCBL). The deal was signed on 6 October 2020, and all the necessary regulatory approvals were obtained with reports by Bizcommunity indicating that the entity will commence distributing Coca-Cola products from May 2021. The non-alcoholic, ready-to-drink business in Lesotho will now operate as a subsidiary of CCBA, with management control. CCBA joins the Lesotho National Development Corporation (LNDC)…

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IFAD injects US$62m in Lesotho to boost food security through SADP II

LESOTHO – The United Nations International Fund for Agricultural Development (IFAD) has announced US$62m in funding to boost food security and nutrition, mitigate the impact of climate change and strengthen livelihoods for 160,000 poor rural households in Lesotho. According to IFAD, the funding will provide the means for a six-year extension of the successful Smallholder Agriculture Development Project (SADP I). The agreement for the SADP II was signed by Gilbert F. Houngbo, the president of IFAD, and Thabo Sophonea, minister of finance. The total project financing comprises of US$50 million…

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Canopy Growth announces changes to global operations to drive strategic focus

CANADA – CBD-infused beverage producer, Canopy Growth Corporation has announced a series of global operational changes which the company expects to further optimize production, better align supply and demand, and improve efficiencies in its global operations. As part of its ongoing strategic review of the business, Canopy Growth announced that it is targeting a transfer of ownership of all of its African operations to a local business. The company has decided to exit the African market. Canopy Growth revealed that it has entered into an agreement to sell all its…

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1K1V completes recapitalization of Lesotho based aquaculture company SanLei

LESOTHO – One Thousand & One Voices (1K1V), a private family capital fund backed exclusively by industry-leading families from around the world, has announced the successful recapitalization of SanLei, its specialist aquaculture portfolio company headquartered in the Kingdom of Lesotho. As part of the transaction, Mergence Investment Managers acquired a significant minority interest in SanLei on behalf of its Lesotho pension fund client. The transaction positions SanLei to accelerate its expansion towards becoming the largest trout operation of its kind in Africa with the benefit of a strong Lesotho-based shareholder…

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Private capital fund 1K1V invests in Lesotho-based healthy food company

LESOTHO – One Thousand & One Voices® (1K1V), a South African capital fund, has announced its growth capital investment in The Rosehip Company, an export-focused healthy food company based in the Kingdom of Lesotho.  The investment by the private family capital fund, which is backed exclusively by industry-leading families from around the globe, is set to enable Rosehip expand its production capacity and broaden its international footprint.  “We see great business expansion potential and opportunities to enhance our strategy and operations arising from 1K1V’s investment of Three-Dimensional Capital® in our…

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South Africa bans meat imports from Lesotho after anthrax outbreak

SOUTH AFRICA – South Africa has imposed a ban on imports of meat, live animals and animal products from Lesotho following an anthrax outbreak.  According to a Business Day report, the Veterinary Authority of Lesotho has reported three anthrax outbreaks to the World Organisation for Animal Health. The first outbreak was reported on May 12 and had subsequently resulted to death of a total of 24 cattle. The South African department of agriculture has urged all local livestock owners to ensure their herd’s vaccination against Anthrax is up-to-date by carrying…

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