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 Nigeria Records 16% Growth in Net Profit
Guinness Nigeria, a subsidiary of the British drinks giant Diageo, reported a net profit of ₦18.2 billion ($23.4 million) for its 2023 fiscal year, concluding on 30 June. This signifies a 16% rise from the company's profit of ₦15.6 billion ($20.2 million) in the previous year.
As outlined by the company, this performance was primarily driven by robust growth in sales volumes. Sales rose by 11% year-on-year to ₦229.4 billion ($296 million), while taxes decreased by 62% to ₦3 billion ($3.8 million). Founded in 1962, Guinness Nigeria markets a diverse array of international spirits, beers, and beverages. Its flagship brands include Guinness Foreign Extra Stout, Guinness Extra Smooth and Harp Lager Beer.
Tanzania: Sahel Capital Announces Support For Dairy Industry
Tanzanian agribusiness company Rogathe Dairy Farm Products recently received undisclosed financial backing from private investment fund Sahel Capital.
This financial package will empower the company, which produces pasteurised milk and yoghurt, to fortify its milk supply chain, procure refrigerated trucks, and fund milk purchases from small-scale farmers. The backing arrives as the company seeks to amplify its presence in the local milk market.
Morocco: Marine Hatchery Launched
In Morocco, a marine fish hatchery has been inaugurated in the municipality of Gueznaya, situated in the Tangier-Tetouan-Al Hoceïma region. At a total cost of 120 million dirhams ($12.3 million), the new facility spans an area of 2.3 hectares. Its purpose is to generate up to 30 million fry of sea bream, sea bass, and meagre, alongside those of other cultivated fish species.
The project aims to invigorate the aquaculture sector, which currently contributes 2,000 tonnes of fish, constituting less than 1% of national fish production, estimated to surpass 1.4 million tonnes annually.
Angola: Animal Feed Factory Commissioned in Luanda
In Angola, the Omatapalo Group has inaugurated a $120 million animal feed plant in the Quiminha agropolis within Luanda province. Occupying a two-hectare area, the new plant boasts a production capacity of 10 tonnes per hour of various feeds for poultry, cattle, and pigs.
The production is intended to cater to the local market, particularly in the provinces of Luanda and Bengo, where it will be supplied in bulk or 30-kilogram bags. The plant is expected to primarily rely on harvests from the Quiminha agricultural cluster for its supply of soya and corn, the two fundamental raw materials used in feed formulation.
Côte d'Ivoire: Puratos Launches $12.1 Million Chocolate Factory
In Côte d'Ivoire, a chocolate manufacturing plant situated in the Yopougon industrial zone has been inaugurated by the Belgian confectioner Puratos. The new factory, valued at 7.1 billion CFA francs ($12.1 million), boasts a production capacity of 600 tonnes of chocolate and 750 tonnes of cocoa powder annually.
The plant is projected to generate 100 new job opportunities. With the establishment of this plant, Puratos joins other chocolate manufacturers already operating in the country, such as the French group Cemoi and the local company Tafi.
Kenya: Mauritian IBL to Take Control of Naivas
In Kenya, prominent local retailer Naivas intends to divest an additional 11% of its shares to the investment fund Mambo Retail, a subsidiary of the Mauritian group IBL. Upon finalisation, this transaction, estimated at a total cost of 5.8 billion shillings (over $41 million), will elevate IBL's ownership stake in Naivas to 51%.
With this move, the Mauritian group will become the predominant shareholder in the Naivas retail chain. Presently, Naivas operates 84 outlets across 20 towns in Kenya, surpassing all other companies in the sector, and employs over 8,000 individuals.
Article by Espoir Olodo.