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.
Côte d'Ivoire: Nestlé Reports Lower Profit in 2023
Nestlé Côte d'Ivoire, the local subsidiary of food giant Nestlé, posted a net profit of 16.5 billion Fcfa ($27 million) across its operations in the financial year 2023, slightly down from the previous result of 16.6 billion Fcfa ($27.2 million).
This decline comes as the company's sales fell to 214 billion Fcfa ($352 million) from 227.6 billion Fcfa ($374 million) a year earlier. In the country, Nestlé produces and markets several brands, including Maggi, Milo, and Nescafé.
Nigeria: Chowdeck Raises $2.5 Million to Support Expansion
In Nigeria, food delivery company Chowdeck has secured $2.5 million in seed funding from a consortium of Nigerian and foreign investors. The company, which currently operates in eight cities, intends to strengthen its position and optimise deliveries in these locations while targeting new regions.
Launched in October 2021, Chowdeck is aiming to expand in the Nigerian food delivery market, where it faces competition from Glovo.
Kenya: Mango Processing Plant Launched
In Kenya, an integrated fruit processing plant has been launched in Tana River County, aiming to mitigate post-harvest losses. The plant has the capacity to process over 1,200 tonnes of mangoes annually. The initiative is part of the government's strategy to improve farmers' income, as Tana River is a key mango-producing area in Kenya.
Burkina Faso: Vegetable Oil Complex Launched in Bobo-Dioulasso
A new vegetable oil complex has been launched in Bobo-Dioulasso in Burkina Faso, developed by Agence Deli Internationale Prod Industries (Adiprod Industries Sa) at a total cost of 18 billion Fcfa ($29.5 million).
This new facility has a production capacity of 25,000 tonnes of shea butter and over 20,000 tonnes of edible oils from sesame, peanut, soy, and cottonseed. The unit will also produce livestock feed and soap. The unit is expected to replace the country's edible oil imports, which are around 31,000 tonnes annually.
Cameroon: Palm Oil Processing Plant To Be Developed
A new oil palm production unit is set to be developed in Cameroon. The project is expected to require an investment of 80 billion Fcfa ($131.5 million). The plant will produce refined palm oil as well as soap with the view to reducing the country's imports. Despite its potential, Cameroon faces a structural palm oil deficit, which has led to purchases of nearly 300,000 tonnes by 2023.
Gabon: MFB To Invest $1.6 Million In Les Sucreries du Gabon
In Gabon, the Turkish group MFB International has committed to investing 1 billion Fcfa ($1.6 million) in the upgrading and modernisation of the factories of Les Sucreries du Gabon. This investment is part of an agreement reached with the government that enabled the company to acquire 90% of the sugar company.
Among other announcements, MFB plans to satisfy the national market for a period of 12 months by importing 10,000 tonnes of sugar per quarter. It should be noted that Les Sucreries du Gabon has sugar plantations of more than 13,000 hectares and sells sugar on the local market under the Princesse Tatie brand.
