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: Agro Bar-Magen Gets $4.5 Million In Funding
Nigeria's Agro Bar-Magen, a feed manufacturing company, has received $4.5 million in funding from the World Bank. This support will help increase local manufacturing and distribution of feed additives, and expand feed processing operations in Nigeria, the company said. The firm, which has been in operation since 2009, is one of the leading suppliers of feed additives to the Nigerian livestock market. It produces vitamin and protein premixes and imports a wide range of additives and raw materials for the Nigerian feed industry.
Côte d'Ivoire: Mango Processing Plant Opens
The Côte d'Ivoire government has inaugurated a mango processing plant in Sinématiali, in the north of the country. Built on one hectare, it has a construction cost of FCFA 482 million. With an annual crushing capacity of 3,840 tonnes, the company is expected to produce 64,000 litres of mango juice per day and 576 tonnes of mango purée per year. This industrial processing unit will significantly reduce post-harvest losses of mango, estimated at 44%.
Mozambique: Maize Processing Plant Opens In Nampula
Mozambique president Filipe Nyusi has unveiled a maize processing plant in the northern province of Nampula in Mozambique. The plant, which follows an investment of 128 million meticals ($2 million) has a processing capacity of 24,400 tonnes of corn per year and a storage warehouse for 7,500 tonnes of maize. It will serve as an outlet for the surplus corn crop produced in the region and also for other surrounding areas. The initiative is expected to eventually benefit more than 60,000 small-scale farmers operating in the area.
Kenya: Iprocure Raises $10.2 Million To Expand Operations
Kenyan agritech iProcure has raised $10.2 million in Series B funding. The agricultural supply chain platform plans to use the sum to strengthen its business in its two main operating markets in Kenya and Uganda, and to enter Tanzania. iProcure, which currently connects 5,000 agri-retailers to agricultural producers, also plans to strengthen its partner and retailer base and expand its last-mile delivery services. The firm provides procurement and distribution services to agri-traders as well as data-driven market intelligence and inventory management.
Togo: Government To Install Soybean Crushing Plants
The Togo government plans to launch a number of soybean processing plants on the on the Adétikopé Industrial Platform (PIA), which have led to an investment of more than 165 billion FCFA ($251 million). With operations set to begin soon, the new factories will make it possible to transform around 240,000 tonnes of 100% local soybeans per year. The factories, also equipped with refining units, will produce edible soybean oil, roasted soybeans and soybean meal. According to authorities, the production of soybean oil will replace the import of edible oils in the country and create more than 350 jobs. The country produced more than 200,000 tonnes of soybeans in 2021.
Nigeria: Omnibiz Raises $15 Million
Omnibiz, a Nigerian B2B e-commerce company, has secured a $15 million in pre-series funding, led by Timon Capital. With this round of financing, it intends to continue its development, particularly in second-tier cities in Nigeria such as Ilorin, Asaba and Akure. Founded in 2019, Omnibiz serves retailers by helping them with last-mile delivery, sourcing, working capital, inventory management, and operational tools to track sales, costs, prices, and profits. The company boasts operations in Nigeria and Ghana.