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: Orda Receives Financial Boost
Nigerian restaurant management startup Orda has raised $1 million in pre-seed funding to support its growth on the African continent. The company intends to expand into South Africa by the end of this year. Launched in 2020, Orda operates a platform that integrates payments, logistics and inventory management for local restaurants and small eateries.
Ethiopia: Diageo Sells Meta Abo Brewery
Spirits group Diageo has sold its Meta Abo Brewery, located in Sebeta, Ethiopia, to BGI, the local subsidiary of the Castel group. The plant has a production capacity of 1.7 million hectolitres per year. With this transaction, BGI is seeking to consolidate its leading position in the market, where it has been operating since 1998. It has a production capacity of 3.5 million hectolitres and operates five plants in the country.
Kenya: Kentaste Products Secures $1.5 Million For Expansion
Kenyan agribusiness company Kentaste Products has obtained a $1.5 million loan from AgriFI to strengthen its presence in the country. With this funding, the company plans to double the number of coconuts it processes, while also doubling its supply network. Founded in 2008, Kentaste Products operates two factories, in Malindi and Kwale, along Kenya’s coast. The company boasts fair-trade certification and manufactures organic coconut-based products, namely coconut milk, coconut cream, coconut flour, virgin coconut oil and desiccated coconut.
Guinea: Salambandé Agro-Industrie Commissions Hatchery
In Guinea, poultry company Salambandé Agro-Industrie has launched a hatchery in Kakoulimaya, Coyah, following an investment of 7 billion francs ($774,000). It has a holding capacity of 4.5 million chicks per year, which will eventually be expanded to 15 million chicks. The company intends to strengthen the broiler production capacity of the sector and reduce imports of frozen chickens from Brazil and Europe.
Kenya: Sasini Achieves Strong Financial Performance In 2021
Sasini plc, one of the largest agricultural companies in Kenya, has ended its 2021 financial year with good results despite the coronavirus pandemic. The company recorded a turnover of Sh5.2 billion ($46 million), an increase of 30% more than the previous year. In addition, it saw a sharp increase in net profit, from Sh12.6 million to Sh573.2 million ($5 million). This performance was driven by increases in the volume and value of its flagship products, such as coffee, macadamia nuts and tea.
Benin: Tolaro Global Launches $10 Million Project To Boost Organic Cashew Nuts
Beninese cashew processing company Tolaro Global has partnered with the West Africa Trade & Investment Hub (Trade Hub) to implement a $10 million project. The three-year initiative is expected to increase the company's annual processing capacity to 8,000 tonnes, up from the current 6,000 tonnes. It also intends to help more than 3,800 farmers to boost their production of certified cashew nuts, from 1,567 tonnes to 8,000 tonnes. Tolaro Global was founded in 2011 and is based in the city of Parakou, northern Benin.