Here's the latest in ESM's regular series, Notes From Africa, which brings you the latest retail, consumer goods and food and beverage stories from across the African continent. Past editions can be found here.
Sierra Leone: Capitol Foods Commissions Cocoa Processing Plant
Sierra Leone-based agribusiness company Capitol Foods has unveiled a new cocoa factory in the Kenema district. The plant, the first of its kind in the country, has a processing capacity of 4,000 tonnes of beans per year. For its supply of raw material, it will rely on a network of more than 2,800 small-scale producers. In Sierra Leone, cocoa production averages 15,000 tonnes per year.
Uganda: Sekajja Agro Farms Limited Receives Financial Boost
In Uganda, poultry company Sekajja Agro Farms Limited (SAF) has benefited from $1.8 million in funding from Yield Uganda Investment, a Pearl Capital Partners' managed fund. With this funding, SAF plans to scale up its poultry production facilities and construct a new feed mill. The company will also expand its cold chain facilities and invest in a modern, automated abattoir. It aims to take advantage of the growing demand for high quality poultry products in the Ugandan and East African markets.
Nigeria: Valency Agro Secures $3.5 Million Loan
Nigerian agriculture company Valency Agro has received a three-year loan amounting to $3.5 million from Oikocredit, a social impact investor. The funding will be used to increase the company’s procurement of raw cashew nuts and enhance its capacity to process the nuts into high-quality cashew kernels for export. The company operates the largest fully-integrated cashew processing facility in Nigeria and has an installed capacity of 40 metric tonnes per day. It employs more than 800 workers and operates nine procurement and distribution centres across the country, which is the fourth-largest cashew nut producer in Africa and sixth largest in the world.
Kenya: Twiga Foods Raises $50 Million To Support Its Operations
Kenyan retailer Twiga Foods has secured $50 million in Series C funding to build new food supply chains in East Africa and neighbouring countries. The platform plans to expand into Uganda and Tanzania by the end of this year and also aims to market horticultural crops in East Africa by 2022. The company, which was founded in 2014, connects small-scale producers and informal retailers. Its services are used by more than 100,000 customers in Kenya.
Senegal: La Laiterie Du Berger Receives Funds For Expansion
Senegalese dairy company, La Laiterie du Berger has received 294 million FCFA ($518,000) in investment supports from the West Africa Trade & Investment Hub. The funding will enable the company to expand its supply network from the current 850 herders to 2,000. Founded in 2007, La Laiterie du Berger posted a turnover of approximately 9.4 billion CFA francs in 2020. It markets its products under the brand name Dolima.
Egypt: Breadfast Raises $26 Million To Support Business Expansion
Egyptian food delivery company Breadfast has raised $26 million in a financing round co-led by Vostok New Ventures and Endure Capital. The company will use this amount to expand its domestic market operations to eight new cities in Egypt. It plans to receive six million orders in Egypt over the next 12 months. The firm serves 170,000 households in Egypt with over 2,500 supermarket items.