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.
Senegal: Fruitales Gets Financial Boost
Senegalese food company Fruitales has received 300 million FCFA (€457,000) in funding from the investment company Teranga Capital. The investment will enable the firm, created in 2005, to capitalise on its experience in agribusiness to scale up quickly and efficiently. Fruitales is aiming to make a strong commitment to producers to strengthen the local fruit and vegetable value chain and expand in Senegal, in the sub-region and worldwide.
Morocco: Agroberries To Invest $40m In Blueberry Production
In Morocco, the Chilean fruit company Agroberries plans to install three blueberry plantations with a total area of 300 hectares by 2023. The investment will cost $40 million and will enable the company to expand its sales in the European Union and United Kingdom.
The company also plans to acquire an additional 700 hectares of farmland, which will be dedicated to other berry varieties in the coming years. Founded in 1996, Agroberries is one of the leading players in the global berry market. The company operates farms covering more than 2,500 hectares worldwide.
Angola: Fazenda Filomena To Produce One Million Eggs Per Day
Fazenda Filomena, one of the main players in the Angolan poultry industry, intends to build a new unit to boost its egg production to one million eggs per day by 2023, up from the current 700,000. The factory, which consists of three new poultry production facilities is being built on its site in Caxito, in the province of Bengo. This new facility will be completed next year. Angola produces between 65 and 70 million eggs each month.
Nigeria: Guinness Nigeria Sees 32% Drop In Net Profit
Guinness Nigeria, a subsidiary of the British group Diageo, posted a net profit of ₦2.7 billion ($6 million) in the first quarter of its 2023 fiscal year, ended September 30. This was down 32% on the previous year and came despite an 11% increase in revenue to ₦52.8 billion ($121 million).
According to the company, the decline was due to an increase in its net financial costs, which more than doubled over the period, as well as administrative, marketing and product distribution expenses. Guinness Nigeria’s portfolio includes brands such as Guinness Foreign Extra Stout and Malta Guinness.
Ethiopia: Pepsico To Inject $40m To Expand Its Potato Chip Production
In Ethiopia, PepsiCo has finalised an investment proposal of 2 billion birr ($40 million) in its subsidiary Senselet Food Processing, a local company specialised in the production of potato chips. The package will be used to finance the development of new potato chip flavours as well as the installation of additional production lines at the plant, as the company wants to increase potato chip production capacity tenfold.
The move is expected to create 500 new jobs eventually, bringing the total number of people employed by Senselet in Ethiopia to 800.
Nigeria: Kaduna State To Build Artisanal Food Processing Centers
In Nigeria, the Kaduna State government has commenced construction of 15 artisanal food processing centers. The initiative will target the maize, milk and ginger value chains. Some seven units will be dedicated to maize processing, five for milk, while ginger will be processed in three units across different areas. The facilities are expected to reduce post-harvest losses and improve the income of smallholder farmers.