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.
Kenya: Naivas To Open Four More Branches
Kenyan supermarket chain Naivas has announced plans to launch four more outlets by the middle of November. The move will see the retailer’s branch network across the country grow to 90 outlets. The company is in a battle for market share growth against its closest rival in the country, QuickMart, which has opened 10 branches in the last 10 months. Naivas reported sales of Sh65.1 billion in the year ended June 2021, reporting a net profit of Sh2 billion. It employs 8,000 people.
Ethiopia: Flow Equity Raises $14m For Poultry Expansion
US-Based investor Flow Equity has received a combined $14 million in funding to grow its operations across Eastern Africa. The company operates in Ethiopia via its investment in EthioChicken, and Rwanda and Uganda via its subsidiary Uzima Chicken. With the investment, it is expected to increase its sales to meet the fast-growing demand for animal protein in the region.
Namibia: Beef Industry Gets Financial Boost
In Namibia, the Value Chain Forum has raised an additional N$27.56 million (about $1.85 million) in a second round of funding to invest in a new beef export processing facility, Savanna Beef Processors Limited. Once operational, the unit will boost slaughter cattle production and value-added meat exports. Namibia is one of the biggest players in the beef market in Africa, along with South Africa and Botswana.
Zambia: 260 Brands Receives $5m For Expansion
Zambian food company 260 Brands has received a $5 million grant from Norfund, the Norwegian development finance fund, which will enable it to finance the modernisation of a 9.6 million litre-per-year soymilk manufacturing facility,, which was launched in early September. The initiative is expected to generate 100 new jobs and increase the company's local sourcing capacity for raw materials. The number of farmers supplying soybeans to the unit is expected to increase from the current 2,500 to 12,000.
Côte d’Ivoire: Auchan Launches New Outlet
In Côte d'Ivoire, the French retail group Auchan is accelerating its expansion with the opening of a new store in Koumassi. The store is the group's seventh in the West African country, which has recently experienced strong economic growth. The move forms part of Auchan’s commitment to become a key player in mass market retail in Côte d'Ivoire.
Angola: Biagio Opens Chocolate Production Plant
Angolan firm Biagio has opened a chocolate manufacturing unit in the municipality of Cacuaco, in Luanda. The factory has a production capacity of 7,000 tonnes of chocolate mousse, cakes, puddings and other confectionery annually. It will be supplied with raw materials by cocoa produced in the province of Cabinda, sugar is sourced from Malanje, and packaging and boxes are sourced from Luanda. Biagio has been operating in Angola since 2014.
Ghana: Government Unveils Maize Processing Factory
Ghana’s government has commissioned a corn processing unit in the Sekyere Central District of the Ashanti region. At a total cost of GH¢6.7 million ($480 000), the maize factory has a capacity to process four to five tonnes of dry maize and five tonnes of maize grits per day. It is expected to employ directly 118 people. In addition, more than 600 farmers will be engaged as contract suppliers to supply maize to the factory.
© 2022 European Supermarket Magazine – your source for the latest A-brand news. Article by Espoir Olodo. Click subscribe to sign up to ESM: European Supermarket Magazine.