Food Business Africa News - October 31

AFRICAN NEWS HEADLINES

Oyster Agribusiness raises US$2M for climate-smart farming in Ghana

GHANA – Oyster Agribusiness, an?agritech firm,? has raised US$2 million in funding to scale up its climate-smart agricultural programs, targeting a larger network of farmers and enhancing Ghana’s agricultural resilience amid ongoing climate challenges?.?. .?More

Kakamega County allocates US$5.4M for Madala Tea Factory

KENYA –?The county government of Kakamega has set aside KES700 million (US$.43M) to restart the construction of the long-awaited Madala Tea Factory, which was initially launched in 2016? .?. .?More

Green Climate Fund approves US$134M for climate resilient agriculture in Somalia

SOMALIA?– The Green Climate Fund (GCF) has recently allocated US$134 million to two projects aimed at strengthening climate resilience in the agricultural communities of Somalia and Iraq?.?. .?More

South African sugar industry seeks health promotion levy reevaluation

SOUTH AFRICA – South Africa’s sugar industry associations have appealed to the government to uphold its commitment to initiate consultations to adjust the Health Promotion Levy (HPL)? .?. .?More

PepsiCo names Felix Enwemadu as new GM for Foods Division in Nigeria?

NIGERIA – PepsiCo has appointed Felix Nnamdi Enwemadu as the new General Manager of its Foods business in Nigeria as the company aims to deliver?high-quality products for Nigerian consumers??. . .?More

WORLD NEWS HEADLINES

GranTerre Group’s Salumifici merges with Parmacotto to form US$1.19B entity

ITALY – Salumifici GranTerre, a subsidiary of GranTerre Group, is merging with cured meats producer Parmacotto, creating a delicatessen enterprise with a combined annual revenue of €1.1bn (US$1.19B)?. . .?More

Heineken reports 3.3% growth in net revenue in Q3

NETHERLANDS – Heineken N.V. has reported a 3.3 percent organic growth in net revenue, reaching €9,072 million (US$9.8B) for the third quarter of 2024?. . .?More

Arla Foods Ingredients explores acid whey upcycling

DENMARK – Arla Foods Ingredients is presenting a new concept, “Upcycle Your Whey to Value,” designed to repurpose acid whey—a primary byproduct of Greek yogurt and other strained dairy items—into high-protein dairy products??. . .?More

Blue Revolution Fund bags US$100M to support?aquaculture startups

EUROPE – The Blue Revolution Fund (BRF)?has raised €93 million (US$100m)?to support early-stage aquaculture startups working on improving ocean ecosystems?. . .?More

Diageo invests US$32.4M to boost Guinness 0.0 production

IRELAND – Diageo has announced an additional €30 million (US$32.4m) investment into expanding the production of Guinness 0.0 at its St James’s Gate facility in Dublin, Ireland??.?. .?More

PAST NEWS HEADLINES

IMCD opens food and nutrition applications lab in Kenya?. . .?More

Kerry Group continues US$324M share buyback?.?. .?More

Tanzania Breweries signs deal to empower entrepreneurs?. . .?More

Coca-Cola reports 1% plunge in revenue in Q3 2024?.?. .?More

BATN Foundation launches poultry farming initiative to support women in Nigeria?.?. .?More