Tag: Nigeria

Africa Food Manufacturing & Safety Summit (AFMASS) Conference & Expo – Western Africa edition

AFMASS Western Africa is the largest food, beverage and milling industry's largest conference and exhibition attended by key decision makers from Western Africa Africa to trade, network and learn the latest processing, packaging and safety technologies. Bringing together delegates and visitors from Nigeria, Ghana, Cameroon, Benin, Ivory Coast and surrounding countries in Western Africa, AFMASS…

Champ Malta producer Champion Breweries profits fall 7% on rising costs

Food Business Africa

NIGERIA - Champion Breweries plc, Akwa Ibom based producer of Champion lager beer and Champ Malta has recorded 6.53% decline in profit to US$223,102.93 for the half year ended June 2018 from US$238,345.99 in 2017. According to Beverage Industry news, the decline was blamed on rising cost of selling and distribution expenses, which rose 95%…

La Casera launches affordable premium option of its apple drink

Food Business Africa

NIGERIA - The soft drinks manufacturer, The La Casera Company (TLCC) has unveiled ‘Full Option SKUs’, different sizes of its apple drink to ensure more options and affordability of the premium product, reports Beverage Industry news. The brand La Casera Apple drink which is made of 5% real apple juice, is now available in 35cl,…

AB InBev to build new brewery in Mozambique, Nigerian brewery to open this month

Food Business Africa

MOZAMBIQUE- Anheuser-Busch InBev (AB InBev), the world’s largest brewing company has said it is investing in a new brewery in Maputo, Mozambique whose construction is set to start second-half of 2019. While the sum of the transaction was not disclosed, the Belgian based brewer said the new facility will have a capacity of 2-million hectoliters…

Food Control agency shuts down Kripsy Kreme over expired ingredients

Food Business Africa

NIGERIA- National Agency for Food and Drug Administration and Control (NAFDAC) and Consumer Protection Council (CPC) have shut down Kripsy Kreme Doughnuts confectionary in Victoria Island, Lagos over use of expired fillings and imposed expiry dates, BBC reports. The move was announced after NAFDAC and CPC visited the premises to conduct a quality inspection on their…

UK firm Duet invests US$50m for a majority stake in Ajeast Nigeria

Food Business Africa

NIGERIA - UK based private equity firm Duet Private Equity (DPEL) has invested over US$50 million in AJEAST Nigeria Ltd, a Sub-Saharan Africa subsidiary of AJE Group, a multinational beverage company. According to the group, a significant share of the investment was allocated as growth capital and will aid in expanding its presence in Nigeria.…

AfDB to increase fish production in Africa by 5m tonnes by 2025

Food Business Africa

NIGERIA - The multilateral development finance institution, African Development Bank (AfDB) Group has announced it is targeting to increase aquaculture production in Africa by five million tonnes by 2025. Through its Technologies for African Agricultural Transformation (TAAT) programme, the bank is looking to increase inland water fish to enable Africa become self-sufficient in fish production,…

Flour Mills of Nigeria profits drop 26% in a challenging business environment

Food Business Africa

NIGERIA - Flour Mills of Nigeria Plc, the Nigerian agribusiness company has reported 26% decline in group operating profit from US$41.81 million to US$31 million in the first quarter ended June 30. Group revenue fell to US$368.33m, down 11% from US$412.37 million a year ago while profit before tax was US$14.40 million for the three…

Recycling alliance partners with Lagos state on plastic waste clean-up and recycling

Food Business Africa

NIGERIA - The Food and Beverage Recycling Alliance (FBRA) has signed a three-year memorandum of understanding with the Lagos State government to clean-up the state’s inland waterways of plastic and plastic and eventually initiate recycling of the same. A statement released by the group said that the initiative seeks to prevent plastic waste and other…

Guinness Nigeria appoints Baker Magunda as new Managing Director

Food Business Africa

NIGERIA - Guinness Nigeria, a subsidiary of Diageo Plc of the UK has appointed Baker Magunda as the company’s new Managing Director/ Chief Executive Officer effective 1 July 2018. Baker succeeds Peter Ndegwa who gave his notice of resignation on 30th June 2018 and the Board accepted his resignation on the same date. He joins…