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…

Nigeria’s beverage firm CWAY Group adds yogurt to its portfolio to meet demand

Food Business Africa

NIGERIA - CWAY Group, the food and beverages maker has expanded its fruit-flavoured milk drink portfolio with the addition of a new yogurt line in a bid to meet consumer demand in the country, reports Beverage Industry News. According to the company, growth in the sub-sector is being driven by the nation’s rising population as…

Coca-Cola Nigeria launches affordable 1litre PET bottle of Coke ‘Mama’

Food Business Africa

NIGERIA - Coca-Cola Nigeria has unveiled a new affordable 1litre PET bottle of Coke, Mama that celebrates family integration by ‘encouraging intimate family moments and making every moment worth sharing’. According to BeverageIndustryNews, Mama is further demonstration of Coca-Cola’s commitment to uplifting and uniting families and friends, as they join and share meals and intimate…

PZ Cussons Nigeria posts 14.3% dip in revenue hurt by low consumer demand

Food Business Africa

NIGERIA - The personal healthcare and consumer goods company, PZ Cussons Nigeria has posted 14.3% decline in revenue to US$43.77 million strained by low consumer spending in the first quarter of 2018/19 financial year. The Nigerian unit of the British conglomerate recorded a net loss of US$572,655.62 in the period ended 31 August attributed to…

Nigeria’s sugar production misses target by 510,000T on massive importation

Food Business Africa

NIGERIA - Nigeria’s sugar production has failed to reach the set target by 510,000 tons over a period of four years to August 2018, blamed on massive importation of the commodity, New Telegraph reports. Nigeria has allowed sugar producers to import refined sugar into the country but their inability to meet the projected target every…

Honeywell Flour Mills revenue grows 34% as it plans to open new Sagamu factory

Food Business Africa

NIGERIA - The wheat based products manufacturer Honeywell Flour Mills Plc has announced 34% growth in revenue to US$197.80 million from US$147.17 million recorded in the year 2017, even as it plans to start production on the new factory in Sagamu next month. According to the Guardian, the company’s gross profit grew by 26% from…

SON develops international standards for staple food products

Food Business Africa

NIGERIA – The Standards Organisation of Nigeria (SON) has developed international standards for most of the country’s staple food products such as garri, dry beans, soya beans, rice to aid acceptance of its agricultural products in the international market. According to Director, Standards Development, Chinyere Egwuonwu, the standards were developed to ensure they meet the…

Nigeria to exit rice import by 2020 as States embarks on large-scale production

Food Business Africa

NIGERIA – Nigeria’s minister of agriculture and rural development, Audu Ogbeh has said that the country is looking to exit rice importation by 2020 even as state governments embark on mass production to boost food security. The federal government is committed to enhance rice production in the country with plans to become a net exporter…

Nampak shares rise after securing US$894m fund package

Food Business Africa

SOUTH AFRICA - Africa’s leading packaging company Nampak has released a trading update showing it had secured US$894.04 million long-term funding package in the 11-month period ended August, sending its share price 2.02% higher at $1.06 on bourse, reports IOL Business Report. The period was characterized by a strong first-half growth as volumes at Bevcan…

Coca-Cola to complete acquisition of Nigeria’s largest juice company, Chi Limited

Food Business Africa

NIGERIA - The world’s soft drinks giant, Coca-Cola is planning to acquire the remaining 60% stake in Nigeria’s leading juice and snacks producer, Chi Limited with the deal to close early next year. The Coca-Cola company entered an agreement to acquire an initial minority equity shareholding (40%) in the juice and snack producer Chi Ltd…