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 to commission Africa’s first automated rice seedling factory in Calabar

Food Business Africa

NIGERIA - Nigeria’s President Buhari is set to commission Africa’s first automated rice seed and seedlings factory in Calabar, Cross River State as part of the country’s initiative to agricultural diversification. The factory is located in the Cross Rivers rice city and according to New Telegraph, the rice project is expected to boost the state’s…

Footprint to Africa stakes US$16.68m in new yam and plantain processing plants

Food Business Africa

NIGERIA - The premium African news media and investment company, Footprint to Africa has invested more than US$16 million for new yam and plantain processing plants in order to enhance food security in Nigeria. The initiative is part of plans to bridge Nigeria’s food gap as well as achieve the government’s diversification agenda for the…

Hollandia launches new soy milk sachet to expand portfolio

Food Business Africa

NIGERIA - Chi Limited, Nigeria’s fast-moving consumer goods company has launched 100ml soya milk sachet, an additional range to its soya milk brand portfolio, Hollandia. The offering, available in resealabe Tetra Pak gives customers more choice among its soya milk products and according to the firm, the move is meant to deliver value by making…

AfDB to invest US$120 million to boost cassava and rice production

Food Business Africa

NIGERIA - The African Development Bank Group has revealed plans to invest US$120 million over the next two to three years in the production and transformation of cassava among other important commodities. As part of a strategy to achieve agricultural diversity, the funding will also boost production of maize, sorghum/millet, wheat, livestock, aquaculture, high iron…

AB InBev’s Nigerian Subsidiary Int’l Breweries restructures its board

Food Business Africa

NIGERIA - International Breweries Plc (IB Plc), the company unit of the world’s biggest brewer AB InBev has announced major restructuring of its Board of Directors after completing a three-way merger with Intafact Beverages Limited and the Pabod Breweries Limited. The Board has appointed Igwe Nnaemeka Alfred Achebe as its new chairman to succeed Sunday…

World Bank, federal government opens up markets for rice farmers

Food Business Africa

NIGERIA - The Federal Government of Nigeria in collaboration with the World Bank is opening new market frontiers for rice farmers by linking them with off-takers and aggregators, reported This Day Nigeria. Through the Ministry of Water Resources, the government organised a business forum bringing together rice farmers, off-takers and other value chain actors in…

Nigeria’s new excise duty on alcoholic beverages kicks off June 4

Food Business Africa

NIGERIA - The Federal Government of Nigeria has announced that the excise duty rates on alcoholic drinks and tobacco approved by President Buhari kicks off on Monday 4 June 2018. The Vanguard quoted the Minister of Finance, Mrs Kemi Adeosun who said the new excise duty rates would spread over a three-year period from 2018…

Nestle shareholders approve US$60.38m in dividends

Food Business Africa

NIGERIA - Nestle Nigeria’s shareholders have approved US$60.38 million final dividend for the year ended December 31, 2017 as recommended by directors, calling on the company to issue bonus shares to the shareholders at the end of 2018 financial year, reported the Vanguard. According to them, the issuance of bonus shares would make the stock…

FrieslandCampina WAMCO’s sales grew 13.2% despite economic challenges

Food Business Africa

NIGERIA - FrieslandCampina WAMCO Nigeria Plc, maker and distributor of dairy products has said that sales for the full year 2017 grew 13.2% to US$387.8 million from US$342.78 million in the previous year. According to the company, the financial results for the period were marred with economic challenges including foreign exchange constraints, high inflation rate…