Food Business Africa News

AFRICAN NEWS HEADLINES

Kenya writes off US$894.14M debt to revitalize sugar and coffee sectors?

KENYA – President William Ruto has announced the cancellation of Ksh110 billion (US$841.36M) debts owed by sugar factories and Ksh6.9 billion (US$52.78M) by coffee cooperatives?.?. .?More

Kakuzi inaugurates new Macadamia oil plant?

KENYA – Agro-food processor Kakuzi has officially inaugurated a new macadamia oil processing plant with a capacity of 1,000 litres per day, marking a significant step in its expansion and value-addition strategy?.?. .?More

D?hler to expand Paarl manufacturing plant in South Africa?

SOUTH AFRICA - Natural ingredients company D?hler has announced plans to expand its South African Paarl manufacturing plant to enhance product availability and expand customizable ingredient variety?.?. .?More

La Chocolaterie to construct US$1.6M chocolate factory in Cameroon?

CAMEROON- La Chocolaterie owner Olivier Bourdais has launched the construction of a 1 billion FCFA (US$1.6 million) chocolate factory in Obala,?set to increase high-quality chocolate production in Cameroon?.?. .?More

RCL Foods set to spin off Rainbow Chicken as separate listed entity?

SOUTH AFRICA – RCL Foods, one of South Africa’s prominent food producers, is moving forward with its plan to spin off its Rainbow Chicken division into an independent publicly traded company.?. .?More

GLOBAL?NEWS HEADLINES

Costco reports 9.1% surge in revenue in Q1 2024 ?

USA - Retail giant Costco has reported a 9.1 percent surge in total revenues to US$58.52 billion for Q1 2024, which is attributed to increased momentum in discretionary items and groceries following price reductions?.?. .?More

Danish Crown CEO Jais Valeur set to resign

DENMARK – Danish Crown, a renowned meat company, has announced the set resignation of its CEO Jais Valeur after 9 years with the company?.?. .?More

Soul of Japan K.K to construct Asia’s largest land-based salmon farm?

JAPAN – Soul of Japan K.K. has obtained a substantial US$210M long-term debt facility to establish an advanced recirculating aquaculture system (RAS) for Atlantic salmon production, processing, and pet nutrition in Tsu City, Japan?.?. .?More

Eat Just unveils enhanced Just Egg v5

USA – Eat Just?has introduced the fifth version of its popular vegan Just Egg,?Just Egg v5, seeking to narrow the gap in taste and functionality between vegan and conventional eggs.?. .?More

Global e-commerce sales to hit US$6.8T by 2028

USA- Research and advisory company Forrester has forecasted significant growth in the e-commerce market; global retail sales are predicted to surge from US$4.4 trillion in 2023 to US$6.8 trillion in 2028?.?. .?More