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:
Kenya: Carrefour Launches 12th Store
French retailer Carrefour has opened its 12th outlet in Kenya. The new store sits on 1,500 square meters of selling space at Westgate Mall in Nairobi, and will provide employment to 200 workers. The company is aiming to strengthen its presence as it seeks to compete with Naivas, the top retailer in the country. It should be noted that since its arrival in Kenya, Carrefour has been taken up spaces previously occupied by retailers such as Uchumi, Shoprite and Nakumatt.
Mali: CEDIAM Receives €2 million To Develop Export Market
Mango processing company CEDIAM has received a $2.4 million (€2 million) loan from the International Finance Corporation (IFC). According to local media reports, the fund will be used to enhance the business' supply chain, comprised of some 2,000 farmers, and boost its exports of mango puree and concentrate to Europe. Mali is one the biggest mango producers in West Africa. Exports of the fruit have tripled over the past decade.
Ghana: Fan Milk Posts a 12% Decline In Revenue In 2020
Fan Milk Ghana, a subsidiary of the French dairy company Danone, has declared a turnover of GH¢373.58 million (€53 million) for the year ended 31 December 2020. This result represents a 12% decrease compared to the previous year. Fan Milk experienced increased demand during the final quarter of the year, it said, and reduced its cost of sales as well as operating expenses. Nonetheless, it posted a 97.6% drop in profit after tax to GH¢0.60 million (€86,000). Danone became a majority shareholder in Fan Milk in 2016. .
Kenya: Quickmart To Open New Store
Kenyan supermarket chain Quickmart is opening a new store in Nairobi’s central business district (CBD) this week. According to local media reports, the outlet will be its third in the area and will bring Quickmart’s branch network to 38 in Kenya. The store will sit on a space formerly occupied by struggling retailer Tuskys, which has already closed several of its branches. With the new project, Quickmart will seek to continue to capitalise on the growth of the Kenyan retail food sector, which is still expanding as a result of population growth; increased urbanization and rising middle class purchasing power.
Nigeria: Nigeria Breweries Registers a 4% Rise In Revenue
Nigeria Breweries, the local unit of Heineken plc, has posted a 4% increase in year-on-year revenue, to N337.3 billion (€729 million), for its financial year ended 31 December. In a press release, the company reported a rise in the cost of sales during the period under review, while it also managed to bring down administrative expenses. Profit after tax fell from N16.105 billion (€35 million) to N7.368 billion (€16 million), a 53.3% drop. Incorporated in 1946, Nigeria Breweries is one of the largest companies in Nigeria by market capitalisation and the country’s biggest brewer with well-known brands such as Star, Legend and 33 Export.
Kenya : KWAL To build A New Facility
Alcoholic beverage manufacturer KWAL has launched the construction of a new facility worth Ksh. 4 billion (€30 million) at Tatu City Industrial Park Ruiru. This investment will almost double its Kenya production capacity. The company is aiming to meet growing consumer demand for its fast-growing brands. Established in 1969, KWAL is backed by its major share-holder Distell (55.37%). It brands include the Hunters cider brand and Kibau, a brand of Kenya vodka.
© 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.