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.
Benin: India's NKS To Invest $22 Million In Cashew Processing Plant
India's Nand Kishore & Sons (NKS) is to establish a new cashew nut processing unit in the Glo-Djigbè Industrial Zone (GDIZ), in Benin. At a cost of $22 million, the plant will have a processing capacity of 30,000 tonnes of raw materials per year. Construction will begin in December with a launch date expected in August 2022. This initiative aims to increase the value created by the cashew industry. The country produces about 150,000 tonnes of cashew nuts per year.
Ethiopia: Ethio Agri-CEFT To Develop Cooking Oil Production Facility
In Ethiopia, agribusiness company Ethio Agri-CEFT plans to commence construction of an edible oil production unit. The new facility will be the largest unit of its kind in the country and will also produce animal feed from by-products. It is expected to reduce Ethiopia's reliance on cooking oil imports – according to the US Department of Agriculture, the country purchased about 400,000 tonnes of cooking oil, valued at $283 million, in 2019/2020.
Zimbabwe: National Foods Holdings To Invest $4 Million Into New Plant
In Zimbabwe, National Foods plans to invest $4 million into the development of a new cereal manufacturing facility. With this investment, the company intends to extend its range of breakfast cereals and extruded snacks. According to local media reports, the launch will occur progressively from mid-2022 as the company intends to increase its share of the market. The group’s overall volumes for the full year ended June 2021 increased by 15% to 525,000 tonnes, compared to the prior period.
Nigeria: Agricorp Injects $9.7 Million Into Poultry Production
Agribusiness company Agricorp International has invested 4 billion nairas ($9.7 million) in seeking to stimulate poultry production in Nigeria. The financial package will seek to bolster production in Kwara, Kogi and Nasarawa states. The company plans to increase this initial capacity to 40 million birds by 2025.
South Africa: Exeo Capital Invests In Cheese And Wine Manufacturer
In South Africa, the Exeo Capital fund has acquired a stake in Fairview Wine and Cheese for an undisclosed amount. The transaction will provide the company with fresh capital to strengthen its production and marketing activities in the South African market. Fairview Wine and Cheese is based in the Paarl region of the Western Cape.
Zimbabwe: United Refineries To Grow 10,000 Hectares Of Soybeans In 2021/22
Zimbabwean-based agrifood company United Refineries has unveiled plans to produce 10,000 hectares of soybeans during the 2021/22 season. As part of this goal, the company intends to roll out its independent farmer contracting program on a large scale. Through this initiative, United Refineries intends to improve its supply of raw materials to achieve a capacity of processing 72,000 tons of soybeans per year. It also intends to reduce the country's soybean imports, which were valued at $128 million in 2020.