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Notes From Africa: FKS Foods, Covertina, Country Delight Dairy

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Notes From Africa: FKS Foods, Covertina, Country Delight Dairy

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.

Côte d'Ivoire: Cocoa Processing Plant Scheduled for Launch by 2025

In Côte d'Ivoire, a new cocoa processing plant is planned to be launched by the first quarter of 2025. It will be constructed by the Senegalese agrifood company FKS Foods, a subsidiary of the Turkish group MFB International. With a total cost of 68 billion Fcfa ($114 million), the plant will possess a processing capacity of 150,000 tonnes of beans annually.

This new investment comes as the government aims to process approximately 50% of the cocoa production, which currently stands at around 2 million tonnes per year.

Egypt: Covertina to Inaugurate Confectionery Plant in 2024

Egyptian agri-food company Covertina is poised to commission a new factory in the second half of 2024, at a total cost of 200 million pounds ($6.5 million). This marks a new boost for the company, which intends to enhance its confectionery production capacity and export half of its production to the international market by year-end.

Covertina is aiming for a larger share of the local confectionery market, which generated approximately $25 billion in sales in 2023, according to data compiled on the Statista platform.

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Nigeria: Valency International to Receive $15m for Expansion

In Nigeria, Singaporean agricultural commodities trader Valency International is set to benefit from a $15 million equity investment from British International Investment (BII). This amount will be utilised to finance the construction of new food processing and warehousing facilities.

The company intends to increase its supply from this West African country to meet the demands of its international partners and customers.

Côte d'Ivoire: Cashew Nut Processing Plant Launched

In Côte d'Ivoire, a new cashew nut processing plant has been launched in Loukoukro, near Yamoussoukro. Spanning an area of 20 hectares, the plant was constructed by the agri-food company Afcott Cashew Sarl. It boasts an initial processing capacity of 20,000 tonnes per year of raw cashew nuts.

According to media reports, the plant's processing capacity will be upgraded to 50,000 tonnes by 2027. This investment should contribute to enhancing value-added in the industry, where 80% of annual cashew nut production is exported in raw form.

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Kenya: New Dairy Plant Unveiled

In Kenya, Country Delight Dairy has initiated a new dairy plant, situated in Nyahururu Town in Laikipia County. The capacity of the new plant is 100,000 litres per day.

The company aims to broaden its dairy products portfolio in the market. It is engaged in procuring, processing, and marketing milk and milk products through integrated cold chain facilities from producer to consumer.

Egypt: Delta Sugar Nearly Doubles Net Profit in 2023

Egypt's Delta Sugar Company concluded its 2023 fiscal year with a net profit of 1.62 billion Egyptian pounds ($52.3 million). This marks a 91% increase from the 850 million pounds ($27.5 million) in profits achieved the previous year. This performance was propelled by robust growth in the company's sales, which doubled to 8.33 billion pounds ($269 million).

The company witnessed an increase in production volumes of sugar and by-products such as molasses, which bolstered supply to the market. Established in 1978, Delta Sugar is headquartered in the city of Giza and is one of the country's leading sugar suppliers, with an estimated market share of 40%.

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