Food Business Africa - Week 07 News

AFRICAN NEWS HEADLINES

RCL Foods issues profit warning on account of loadshedding?

SOUTH AFRICA?-?RCL Foods Ltd, a food processor and milling company in South Africa, has issued a profit warning as load shedding associated costs negatively impact margins?.?. .More

Tingo Foods to set up US$1.6bn agri-food processing plant in Nigeria

NIGERIA?-?Agri-food company Tingo Foods, has announced the beginning of the construction of a US$1.6 billion agri-food processing unit in Nigeria that, according to analysts, will revolutionize Africa's food industry??. . .More?

Facility producing counterfeit Nescafe coffee products shut down

EGYPT -?A factory producing counterfeit copies of Nescafe coffee products under the name of food and beverage giant Nestlé has been shut down by law enforcement authorities?.?. .?More

Serengeti Breweries loses?appeal against Break Point Outdoor Catering Limited

TANZANIA –?Serengeti Breweries Limited has lost an appeal as per the ruling of the commercial court against Break Point Outdoor Catering Limited for an alleged breach of a contract for the supply of beer and spirits?. . .More

New KCC requests?US$23M to implement milk powder reserve fund

KENYA -?The New Kenya Cooperative Creameries (NKCC) has asked the Kenyan parliament to allocate KES3 billion (US$23.9M) for the implementation of a milk powder reserve fund?. . .?More

GLOBAL?NEWS HEADLINES

PepsiCo begins Middle Eastern's headquarter relocation to Saudi Arabia

SAUDI ARABIA -?PepsiCo is reported to start moving its senior leadership team from Dubai to Saudi Arabia as part of relocation plans for the?Middle Eastern headquarters?amid double-digit revenue growth of the AMESA division in the full year 2022.?. .?More

Suntory Holdings to invest US$76m in two Japanese distilleries?

JAPAN?- Suntory Holdings Limited, a Japanese multinational brewing, and distilling company group, plans to invest 10 billion yen (US$76m) in renovating two distilleries, Hakushu and Yamazaki, to meet the swelling demand for whiskey??.?. .?More

Unilever's annual turnover exceeds US$64B in 2022

UK?-?Multinational consumer goods giant Unilever has delivered yet another impressive growth with an annual turnover jumping 14.5% to €60.1 billion (US$64.78 Billion) in the last financial results to be delivered by Alan Jope as CEO?. .More

American Beverage Association President and CEO Katherine Lugar exits

USA?-?Katherine Luga, the President and CEO of the American Beverage Association, a government lobbying group that represents the non-alcoholic beverage industry, will depart the office?at the end of March to the hotel industry as Executive Vice President (EVP), Global Corporate Affairs at Hilton?. .?More

CCEP adds more research partners in carbon capture and upcycling project

UK -?Coca-Cola Europacific Partners (CCEP) has signed two new partnership agreements with European research groups?to expand the research of carbon capture technologies, that will?be used to turn CO2?into valuable products for the supply chain like packaging materials and sugar?.?. .?More