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.
Nigeria: Guinness Unveils New Spirits Production Line In Lagos
The Nigerian subsidiary of Diageo, Guinness Nigeria, has launched a new spirits production line at its brewery in Ogba, in the city of Lagos. The $2.2 million facility will increase the production capacity of its Orijin brand. This investment is part of the group's strategy to meet growing consumer demand for the brand in its portfolio and in particular for spirits. The company reported sales of 160 billion nairas ($389 million) in its fiscal year 2021 ended August 31.
South Africa: Poultry Producer EFRCH Receives Backing From Zebu Investment Partners
South African poultry company Elgin Free Range Chickens Holdings (EFRCH) has received a boost from investment fund manager Zebu Investment Partners (ZIP). The value of the investment was not revealed, but it should be sufficient to enable the company to consider new growth opportunities in the South African poultry market, which is the largest on the African continent.
Nigeria: Farmforte Inaugurates New Cashew Processing Unit In Edo State
Nigerian agribusiness firm Farmforte has launched a cashew processing unit in Benin City, Edo State, located in the southwest of the country. The plant has a daily processing capacity of 24 tonnes of cashew nuts, and is capable of producing 5,400 tonnes per year. The unit should provide a secure outlet for more than 2,000 small producers in the region, it said.
Ghana: Cargill Launches New Cocoa Processing Line
In Ghana, Cargill has launched a new production line at its Tema-based cocoa processing plant. At a total cost of $13 million, the new line brings the plant's processing capacity to 90,000 tonnes of cocoa, up from 75,000 tonnes previously. The processing plant was launched in 2008 and currently employs 530 people.
Nigeria: Aruwa Capital Takes Stake In AgroEknor
Private equity firm Aruwa Capital Management has acquired a stake in Nigerian agro-industrial company AgroEknor, which specialises in the production and export of hibiscus flowers. The undisclosed cost of the transaction will enable the company to increase its market share in the local industry by improving its harvesting, drying, packaging and export operations. It also plans to expand its global presence in select Asian, European and North American markets, to capitalise on the booming hibiscus market, which is expected to grow 7.5% annually between 2021 and 2025 to reach a total value of $490 million. Established in 2013, AgroEknor has exported about 15,000 tonnes of GMO-free hibiscus since its inception.
Nigeria: Johnvents Industries Launches Cocoa Processing Plant
Nigerian agribusiness company Johnvents Industries has unveiled a N15 billion ($36 million) cocoa processing plant in Akure, Ondo State. This plant has a capacity to process 40 tonnes of beans per day, with its products mainly destined for foreign markets. The unit already employs 100 people and is expected to generate over 200 new jobs for its staff. Johnvents Industries Limited was officially established in 2016, and is also involved in cassava, corn, sorghum, soybeans, cowpeas and millet production.