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.
Kenya: Coca-Cola To Invest $175 million Within Five Years
Coca-Cola Beverages Africa, a subsidiary of The Coca-Cola Company, has announced plans to invest up to $175 million in Kenya over the next five years. This investment aims to expand the company’s capacity and capabilities in the region. It’s expected to accelerate the company's expansion in Kenya as the soft drinks market continues to develop positively.
Madagascar: Pasta Production Plant Launched
In Madagascar, a pasta production unit has just been inaugurated in the town of Arivonimamo. Built by NETA Madagascar, the plant has a production capacity of four tonnes of pasta per day, using local rice flour.
The new facility will rely on local producers for its raw materials, helping to improve value-added in the region and strengthening the links between industry and local agriculture.
Morocco: Fruit Packing Unit To Be Developed
Driscoll's Morocco, a subsidiary of the American company Driscoll's, has begun the construction of a five-hectare red berries packing plant in the province of Larache. Costing a total of 150 million dirhams ($15 million), the plant is expected to create over 500 direct jobs.
This is the second plant operated by the company in Morocco, after the opening of a facility in Moulay Bousselham in the Rabat-Salé-Kénitra region.
Nigeria: Plan for 100,000-Hectare Cassava Farm Unveiled
In Nigeria, the Ekiti State Government has signed a Memorandum of Understanding (MOU) with a leading Nigerian investment company, Cavista Holdings, to establish a cassava farm spanning 100,000 hectares.
This agricultural project is expected to boost cassava production, generate jobs, and provide income sources for farmers and rural households within the state. Nigeria is the largest cassava producer in the world.
Kenya: Dune Packaging Secures Loan For Growth
Kenya's leading packaging manufacturer, Dune Packaging Ltd, has raised an undisclosed amount in equity from the Ascent Rift Valley Fund II (ARVF II) managed by Ascent Capital Management Africa II.
The company will use the funds to support its business growth in East Africa. This fundraising comes as the company aims to take a bigger share of the region's packaging sector, which is one of the most important in Africa with the growth of the food and beverage sectors.
Ethiopia: Africa Improved Foods To Invest $40 million
Rwanda-based food company Africa Improved Foods (AFI) plans to invest $40 million in the construction of a processing plant in Ethiopia.
This project aims to extend AFI's presence outside Rwanda, where it operates a single plant producing fortified foods. The company aims to serve countries in the sub-region such as South Sudan, Uganda, Ethiopia, and the DRC.
Côte d'Ivoire: Sucrivoire Posts 80% Profit Growth
Sucrivoire, a subsidiary of the French agro-industrial group SIFCA, has announced a net profit of 4.6 billion Fcfa ($7.6 million) for the first quarter of 2024. This figure is 80% higher than the same period last year.
According to the Côte d'Ivoire-based company, profit growth was driven by a 17% improvement in sales to 29 billion Fcfa ($47 million), thanks to an increase in volume sold, from 43,686 tonnes to 49,142 tonnes.
Nigeria: Edo State To Develop A 47,000 Hectare Palm Plantation
In Nigeria, the Edo State government plans to establish an oil palm plantation on a 47,000-hectare farm. The project's cost has not been disclosed. It is part of the second phase of the Edo State Oil Palm Programme (ESOPP) implemented since 2019.
Through this initiative, Edo State aims to consolidate its position as the country's main palm oil supplier, accounting for around 12% of national supply, according to official data. In Nigeria, over 3.2 million hectares of oil palm are cultivated.
