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:
Kenya: Tropikal Brands Launches New Breakfast Cereal Brands
Kenya-based food manufacturer Tropikal Brands has unveiled 'Nutripro Cornflakes', a new brand of nutritious breakfast cereal. The product, which is available in packs of 500 grams, was developed by the company's food division and is sugar-free. In Kenya, the breakfast cereals market is one of the most dynamic in East Africa. The family cereal is the largest segment of the total market, which also includes children’s cereals and hot cereals.
South Africa: AgVentures Acquires Online Farmer Marketplace Skudu
Agrifood tech investor AgVentures has acquired the online marketplace Skudu, which trades agricultural inputs and produce. According to local media reports, the transaction aims to expand the presence of the e-commerce platform beyond South Africa with plans to expand to the rest of the continent in the future. Through this partnership, Skudu expects to benefit from the agri-industry and technology expertise of AgVentures. The company connects buyers and sellers of agricultural and also advises farmers about soil management and input planning.
Ethiopia: New Edible Oil Processing Unit Opens in Amhara
In Ethiopia, a new vegetable oil factory has been launched in the Amhara state, following an investment of around Birr 4.5 billion (€93.5 million). According to the authorities, the edible oil plant has a capacity to produce 1.5 million litres of palm oil per day. When fully operational, it is anticipated to create 3,000 jobs and to cover 60% of Ethiopia’s cooking oil demand, which has expanded rapidly during the last decade as the population has grown. Total edible oil consumption stands at more than 600,000 tonnes per year, of which 95% is imported. In Ethiopia, Niger seed, cottonseed, soybeans and sunflower seeds are the main crushed oilseeds to produce cooking oils.
Egypt: LuLu Hypermarket Opens Third Store
LuLu Hypermarket, the fastest growing retail chain in the Middle East and Asia, has launched its third store in Egypt and 200th globally. The new outlet is located in Cairo, on a 8,700 square-metre site and will offer over 30,000 types of goods to customers, according to a press release. It cost EGP 165 Million (€8.7 million) to develop. This launch is a part of the company's expansion plan, which aims to open 11 hypermarkets and four mini-markets in Egypt over the next three years. LuLu Hypermarket opened its first hypermarket in Egypt in 2015.
South Africa: Coca-Cola Beverages To Increase Employee Share In Business
Coca-Cola Beverages South Africa (CCBSA) plans to offer 10% of its shares to its employees. Through the scheme, the 8,000 employees of the soft beverage giant will now own 15% of the business. The move forms part of compliance measures announced in 2016, when the company acquired SAB Miller and pledged to enhance its black economic empowerment (BEE) status. Coca-Cola Beverages Africa (CCBA) is biggest bottling company in Africa.
Nigeria: Domino’s Pizza Franchise Holder Reopens Outlet
Eat’N’Go, the master franchise holder of Domino’s Pizza Nigeria, has relaunched its outlet located in Saka Tinubu street, Victoria Island, Lagos. The fast-food chain shut down operations in last October due to a fire outbreak. Eat’N’Go was founded in 2012 in Nigeria. The Quick Service Restaurant subsector is one the fast-growing in Nigeria’s foodservice industry, which is worth more than $3 billion, according to USDA.
© 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.