Notes From Africa: Capital Foods, Edita Food Industries, Bolt, WM Group, Uganda Breweries
ESM is proud to launch a new weekly series, Notes From Africa, which will bring you the latest retail, consumer goods and food and beverage stories from across the African continent. Past editions can be found here.
In this week's report:
Zambia: Government To Launch Fruit Processing Plant
Zambia's Katete district will see the opening of a new fruit processing plant in May. At a cost of 160 million kwatchas (€6 million), the project to build this factory was led by the Zambian Industrial Development Corporation (IDC). With seven production lines, it is expected to process mainly mango, pineapple and oranges. According to authorities, the machines used in the facility are being imported from India and will be installed soon. Once operational, the factory is expected to provide 200 jobs opportunities.
Sierra Leone: Capital Foods Gets Financial Boost
In Sierra Leone, leading fruit juice producer Capital Foods has received $1 million (€851,000) in investment supports to finance its expansion. The funding comes from two Dutch impact investors, Cordaid Investment Management and Triodos-Hivos Fund. It will allow the company to increase its processing capacity to three tonnes of fruit per hour and to purchase 5,000 tonnes of fruit per year from 10,000 growers. Capitol Foods produces bottled water and fruit juices under the brand name Sierra.
Egypt: Edita Food Industries Receives $6m For Its Expansion
Edita Food Industries (EFI), a leader in the Egyptian packaged snack food market, has signed an EGP 90 million (€4.9 million) financing agreement with the National Bank of Kuwait (NBK). The sum will enable the company to finance the construction of new production lines despite economic disruptions linked to the coronavirus pandemic. The company intends to consolidate its strong position in key segments such as cakes and bakery. Edita recorded stable revenues of EGP 4.0 billion (€217 million) in the financial year 2020 ended December 31.
Kenya: Bolt Launches Meal Delivery Service
Bolt, the Estonian ride-hailing business, has launched its food delivery service in Kenya, Bolt Food. The move will enable the company to take advantage of a surge in coronavirus-related meal orders. It will rely on a network of over 200 restaurants, but will likely face stiff competition from players such as Glovo, Jumia, Uber Eats and Jumia Foods. As part of its expansion, Glovo also plans to launch operations in Nigeria soon.
Angola: WM Group Inaugurates Poultry Feed Production Unit
WM Group has launched a new animal feed manufacturing unit in Cuanza Norte province. With a production capacity of 20 tonnes of feed per day, the plant covers 10 hectares. It will source its raw materials from local soybean and corn producers. With this investment, WM Group intends to contribute to the reduction of the feed deficit in the domestic market, which is affecting poultry production. According to USDA, chicken meat production has been unable to expand due to the lack of access to affordable animal feed. In the country, the majority of animal feed is imported.
Uganda: Uganda Breweries Sets Up $1 million Fund To Help Bars
Uganda Breweries, EABL's subsidiary, one of the leading beer producers, has launched its 'Raising the Bar' initiative to help pubs and bars cope with the disruption of their activities by the coronavirus pandemic. With a budget of $1 million (€851,000), it will provide financial support to operators and will facilitate the access of equipment such as hygiene kits, permanent sanitiser dispenser units, hand sanitisers and masks. Moreover, this financial boost will also enable establishments to obtain mobile bars and outdoor equipment.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Espoir Olodo. Click subscribe to sign up to ESM: The European Supermarket Magazine.