Notes from Africa: Kings Beverages, Cadbury Nigeria, ON Market, KMC, Dairibord Holdings

0

Here is the latest MYfrom the regular series, Notes from Africa, which brings you the latest retail, consumer goods and food and drink stories from across the African continent. Previous editions can be found here.

Kenya: Government launches $1.3m banana processing plant

A banana processing plant has been commissioned in Kisii County, located in southwestern Kenya. At a total cost of 158 million shillings ($1.3 million), the new unit will be able to process around 80 tonnes of bananas per day. It will rely on local farmers for its supply of raw materials. This project is expected to address some challenges such as post-harvest losses, which are linked to the lack of processing facilities as well as poor storage conditions.

Sierra Leone: Kings Beverages gets financial boost

Sierra Leone-based agribusiness, Kings Beverages, has benefited from a $5 million loan from the International Finance Corporation (IFC) and the Global Agriculture, Food and Security Program (GAFSP). With this funding, the company aims to complete construction of its water and soft drink facility. It will also introduce new product lines and increase the number of fruit suppliers it uses from 40 to 150 by 2025. Kings Beverages was established in 2000 and is one of the largest local players in the beverage industry gas in Sierra Leone.

Nigeria: Cadbury Nigeria announces lower profits in 2021

Cadbury Nigeria, a subsidiary of Mondelez International, reported profits of 449.7 million naira ($1 million) for its fiscal year ending December 2021. This figure represents a 52% decline from the same period the last year. The underperformance was driven by rising production costs as raw material prices rose and logistics costs soared. This poor result was announced despite a 20% increase in sales to 42.3 billion naira (100 million dollars) over the period. The company is headquartered in Ikeja, Lagos State, and its portfolio includes local gummies and sweets.

Egypt: ON Market raises $215,000 for expansion

In Egypt, online grocery marketplace ON Market secured $215,000 for expansion. The company intends to use this funding to expand into other cities such as Cairo, Alexandria, Tanta and Mansoura during 2022. The company, founded in 2020, offers food retailers technological solutions to create and maintain e-commerce and connect customers via its application with nearby grocery stores. The start-up aims to capitalize on the widespread use of communication technologies by consumers that has led to an increase in e-commerce activity.

Kenya: KMC obtains support of 12 million dollars to strengthen its operations

The Kenya Meat Commission (KMC) will receive 1.4 billion shillings ($12 million) to help it expand its business. Funding will be allocated through the Kenya Defense Force. With the money, KMC intends to improve the efficiency of slaughtering and meat processing operations at its production facility based in the town of Athi River. The factory currently exports around 500 tons of fresh and frozen meat to the Middle East and the rest of Africa.

Zimbabwe: Dairibord targets the South African dairy market

Zimbabwean dairy manufacturer, Dairibord Holdings, has announced plans to start exporting its products to South Africa. This initiative will enable the company to diversify its outlets and increase its export revenues. The company has already sent a team of visitors to South Africa to establish contacts with potential local distributors for possible business partnerships. In Southern Africa, Dairibord currently exports its products mainly to Zambia, Mozambique and Botswana.

© 2022 European supermarket magazine – your source for the latest news from Brand A. Article by Hope Olodo. Click on subscribe register for ESM: European Supermarket Magazine.

Share.

About Author

Comments are closed.