Food Business Africa News - October 21

AFRICAN NEWS HEADLINES

Ethiopia’s coffee, tea, and spices export revenue up 46%

ETHIOPIA – Ethiopia has recorded a 46 percent increase in revenue to US$621.98 million from the export of 115,851.77 tons of coffee, tea, and spices during the first quarter of the current fiscal year?.?. .?More

Heineken coy on Komari Beverage acquisition in Ethiopia

ETHIOPIA – Heineken has declined to comment on reports that the global brewing giant has reached an agreement to acquire Ethiopia-based Komari Beverage??.?. .?More

Egypt’s Entlaq acquires stake in Brotinni?

EGYPT – Entlaq has acquired a stake in Brotinni, an Egyptian startup specializing in dark butchers’ technology and smart food solutions, aiming to revolutionize meat production with innovative, eco-friendly technologies?.?. .?More

Ghana COCOBOD implements zero borrowing model

GHANA - The Ghana Cocoa Board (COCOBOD) has introduced a zero-borrowing arrangement to finance cocoa purchases for the 2024/2025 crop season aimed at eliminating the need for loans from external sources?.?. .?More

Coca-Cola introduces Wozzaah Zero Sugar to Nigerian market

NIGERIA –?Coca-Cola has introduced its limited-edition soft drink, Coca-Cola Wozzaah Zero Sugar, into the Nigerian market, targeting the younger generation, specifically Gen Z consumers . . .?More

WORLD NEWS HEADLINES

Nestlé cuts full year outlook following 2.4% decline in sales

SWITZERLAND – Nestlé has cut its organic sales growth forecast for 2024 following a 2.4 percent decline in sales for the nine-month period ending September, as consumer demand continues to soften in the face of high food inflation?. . .?More

Pernod Ricard records 5.9 percent sales decline in Q1 FY 25

FRANCE – Pernod Ricard SA has reported a 5.9 percent decline in organic sales €2.78 billion (US$3B) in its first fiscal quarter of FY 2025 amid sluggish consumer demand in China and ongoing challenges in the U.S??. . .?More

Plukon Food Group acquires HKFoods’ operations in Denmark?

DENMARK – Plukon Food Group B.V. is set to expand in Denmark following approval of its bid to acquire HKFoods’ operations in the region by the Danish Competition Authority??. . .?More

Anora Group CEO Jacek Pastuszka to retire

FINLAND -?Anora Group CEO Jacek Pastuszka has informed the company’s board of directors of his intention to step down from the role just after one year at the helm?. . .?More

Canada allocates US$5.1M for poultry sector research

CANADA – CANADA – Canada’s Agriculture Minister, Lawrence MacAulay, has revealed plans to inject a US$5.1 million to facilitate ongoing research projects aimed at advancing the country’s poultry sector??.?. .?More