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.
Nigeria: Nigerian Breweries Reports Net Loss in 2023
Nigeria Breweries plc, a subsidiary of Heineken, reported a net loss of ₦105.7 billion ($73 million) in its 2023 financial year, compared to a net profit of ₦13.9 billion ($9.3 million) the previous year.
The company's operating profit fell by 15% to ₦44.5 billion ($30.6 million), while revenue for the period amounted to ₦600 billion ($409 million), registering a 9% year-on-year growth. The devaluation of the naira in its foreign currency transactions resulted in financial losses estimated at ₦153 billion ($104 million). The company's portfolio includes brands such as Amstel Malt, Strongbow, and Apple Cider.
Benin: Pineapple Processing Unit Launched
In Benin, a pineapple juice production unit was recently inaugurated in the commune of Zè in the south of the country. Costing 145 million Fcfa ($240,000), the unit was built by the agrofood company Bio-Pharm.
It will source its raw materials from the region, as well as from other major fruit-producing regions in the country, such as Allada, Tori-Bossito, and Toffo.
Nigeria: Palm Oil Processing Plant Commissioned
In Nigeria, an oil palm production plant has been launched at Akwukwu-Igbo in Delta State. With a processing capacity of 10 tonnes per hour of palm nuts, the construction of this new oil mill is part of a public-private project initiated with the agro-industrial group Norsworthy Farms & Agro Allied in 2017.
The partnership includes the development and operation of a palm plantation covering more than 2,000 hectares.
Morocco: Marjane Launches New Outlet In Laâyoune
The Moroccan retailer Marjane has inaugurated a hypermarket in the town of Laâyoune in Western Sahara. Occupying an area of 1.25 hectares, this new outlet required a total investment of 210 million dirhams ($21 million).
The outlet will focus on fresh produce such as fruit and vegetables, butchery, and fish products. With the opening of the Laâyoune hypermarket, Marjane Group has expanded its branch network to 171 nationwide, including 42 hypermarkets.
Tanzania: East Africa Foods Gets $2m In Support
Tanzanian food company East Africa Foods (EA Foods) has received $2 million in funding from EDFI AgriFI, the European venture capital fund, and financing facility for agricultural SMEs. The financing will enable the company to continue its growth in Dodoma and Zanzibar.
The company, which collects and distributes agricultural produce directly to urban retailers, supermarkets, and restaurants, plans to extend its reach and impact to more than 15,000 farmers and 10,000 small retailers by 2025. The firm, which has been in business since 2013, utilizes technology as well as cold chain infrastructure.
South Africa: Hatch Africa Raises $9.5m For Poultry Farming
Poultry company Hatch Africa has raised $9.5 million from AgDevCo and IDH Farmfit Fund to develop poultry farming in other African countries, including Kenya, Ghana, and Côte d'Ivoire. Hatch Africa plans to increase the number of chickens sold each year from 45 million to 340 million.
The South Africa-headquartered company's vision is to reach every farmer and achieve one chicken per person per year in every country where it operates.
