Notes From Africa: AB InBev, Uzima Chicken, Agthia Group, Cadbury Nigeria, Les Ateliers de Corinne
ESM is proud to launch a new weekly series, Notes From Africa, which will bring you the latest retail, consumer goods and food and beverage stories from across the African continent. Past editions can be found here.
In this week's report:
Mozambique: AB InBev Launches New Brewery
AB InBev has launched a new $180 million (€151 million) production facility in Mozambique. Located in Marracuene, the plant has a production capacity of 2.4 million hectolitres per year, which will eventually be increased to 6.7 million hectolitres. This is the largest private investment in the Mozambican brewing sector. This unit, which will be managed by its local subsidiary Cervejas de Mocambique (CDM), employs 200 people. Heineken also recently started producing beer in Marracuene, in 2019, following a $100 million investment in an 800,000 hectolitre per year plant.
Côte d'Ivoire: Diamond Company To Establish Cashew Processing Plant
In Côte d'Ivoire, a new cashew nut processing unit is to be established in the town of Sikensi, in the south of the country, by the African Diamond Company. It will have an initial processing capacity of 20,000 tonnes in its first year of operation, which will be increased further to 30,000 tonnes in the second year. The project is expected to provide 350 jobs. Côte d'Ivoire is the world's largest producer of cashew nuts, with a crop of 849,000 tonnes of raw material in 2020.
Rwanda: Uzima Chicken Receives Support For Expansion
In Rwanda, the poultry company Uzima Chicken has received a $3 million (€2.5 million) financial package from AgDevCo, a specialist investor in African agriculture. The funding will be used to expand the company's operations in a bid to strengthen its presence in the various segments of the poultry chain, as well as market its products in other countries of the Great Lakes region. The company is currently investing in a modern hatchery unit in the Bugesera district, and aims to reach a production capacity of between 8 million and 10 million chicks per year in the medium term. Uzima Chicken launched its operations in Rwanda in 2017, and the company is also present in Uganda.
Egypt: Agthia Group Buys Stake In Local Meat Producer
Egyptian meat processor Atyab has sold 75% of its share capital to the Emirati agri-food group Agthia. The transaction, valued at 3.2 billion Egyptian pounds (€171 million), will enable Agthia to benefit from Atyab's production capacity of 70,000 tonnes of meat per year. It will also provide the business with the opportunity to position itself in the growing Egyptian beef market. According to the USDA, Egypt consumes about 700,000 tonnes of beef per year.
Senegal: Food-Tech Start-Up Les Ateliers de Corinne Gets A Boost
Senegalese food start-up Les Ateliers de Corinne (LADC), based in Dakar, has secured funding, of an undisclosed amount, from investment fund WIC Capital. The start-up, founded in 2014 by Corinne Erambert, specialises in digital culinary marketing. The investment will enable the company to purchase professional equipment, facilitating its growth, as well as acquire a new premises.
Nigeria: Cadbury Nigeria Records a 10% Drop In Turnover In 2020
Cadbury Nigeria, a subsidiary of Mondelez International, has posted revenue of N35.41 billion (€78 million) for its financial year ended December 2020, which is 10% lower than the previous year. The company cited poor economic conditions due to the coronavirus pandemic, which impacted on local sales and product exports. As a result, the company saw its profit fall by 83% to N172.67 million (€381 million), from N1.07 billion in 2019.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Espoir Olodo. Click subscribe to sign up to ESM: The European Supermarket Magazine.