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: Plesion Capital Invests In Releaf
Venture capital firm Plesion Capital has invested $250,000 in Nigerian start-up Releaf, an agritech firm engaged in the supply of agricultural inputs and development of palm nut extraction technologies. The investment will support Releaf's growth and help the company expand its operations beyond palm nut cultivation and processing.
Algeria: Madar Holding Establishes New Sugar Company
Madar Holding has established a new subsidiary, Tafadis that specialises in refining, producing and marketing sugar. The sugar beet refining plant, located in the Wilaya of Boumerdès, has a production capacity of 2,000 tonnes of sugar per day and is expected to create 1,200 direct and indirect jobs.
With a total cost estimated at over 24 billion dinars ($176.5 million), the plant is set to come into operation in the last quarter of 2023.
Kenya: Milk Processing Plant Commissioned
In Kenya, a milk processing plant with a capacity of 1,000 litres per hour has been commissioned in Nyeri County. The plant will produce various dairy products, including long-life milk, yogurt, and cheese, and is expected to boost the local supply of fresh milk, which stands at around 115 million litres per year in Nyeri County. Kenya is the largest consumer of milk per capita in Africa, with an annual volume of 120 litres.
Nigeria: Africainvest Acquires Stake In Justrite Retail Chain
Pan-African investment firm AfricaInvest has acquired an undisclosed minority stake in Justrite, a family-owned retail chain in southwest Nigeria. Justrite has been in business for more than 22 years and has 17 stores in Lagos, Ogun and Osun States.
Morocco: Marine Fish Farm To Be Set Up In Tangier
The National Agency for the Development of Aquaculture (ANDA) is collaborating with Israeli company Agrigo to establish an $11 million marine fish farm in the Tangier region of Morocco. Fisheries production in Morocco is around 1.4 million tonnes per year, while marine aquaculture totals only 1,300 tonnes, according to FAO data.
Angola: Coopex Montbéliarde To Invest In Dairy Sector
Coopex Montbéliarde, a French cooperative that specialises in bovine genetics, plans to import 165 head of Montbeliarde cattle to Angola this year to develop a dairy cow breeding project. Angola currently depends on imports for 90% of its dairy consumption needs. The Montbeliarde breed is known for its high productivity and ability to adapt to the climatic conditions in many African countries.
© 2023 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.