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.
Egypt: OneOrder Raises $16 Million For Expansion
Egyptian start-up OneOrder has raised $16 million in debt and equity to finance its expansion in North Africa and the Middle East (MENA). The company will begin its geographical expansion within the United Arab Emirates.
The company also plans to develop financing solutions for its customers and further develop its platform, which facilitates the purchase, storage, and delivery of food products to restaurants and hotels.
Tanzania: Kioo Limited Secures $45m Loan
In Tanzania, glass packaging producer Kioo Limited has secured a $45 million loan from the International Finance Corporation (IFC). The line of credit will be used to boost Kioo's recycled glass production capacity to meet the needs of the local market and the sub-region.
According to IFC forecasts, the East African beverage sector is set to grow by up to 10% a year over the next five years. This represents an opportunity for the company to expand its business and strengthen its market share.
Nigeria: Enugu State To Boost Palm Oil Production
In Nigeria, Enugu State has signed a ₦100 billion ($66 million) agreement with Pragmatic Palms Limited to revitalise United Palm Products Limited (UPPL), a state government-run palm oil processing company that has around 7,400 hectares of palm plantation.
Through the agreement, Pragmatic Palms is seeking to install several pieces of equipment to boost its capacity to process palm oil and by-products such as palm kernel oil.
Côte d’Ivoire: Record Profit for Solibra in 2023
Société de Limonaderies et de Boissons Rafraîchissantes d'Afrique (Solibra) has announced a net profit of 15 billion Fcfa ($25 million) for the 2023 financial year, which represents robust growth compared to 2022. Its performance was underpinned by an increase in sales.
Following a decline in 2022, sales picked up again, reaching a record high of 311.4 billion Fcfa ($513 million) in 2023. This dynamism enabled the company to contain an increase in sales costs, which rose by 23.3 billion Fcfa ($38 million).
Zimbabwe: Delta Corporation Reports 59% Increase in Profit
Delta Corporation, Zimbabwe’s leading brewer, has posted a 59% increase in profit for the year ended 31 March. The company’s profit increased to $100.5 million, up from $63 million in the previous year, thanks to a significant rise in revenue, reaching $767.6 million – a 43% increase compared to the previous year.
Delta Corporation attributes its financial performance to record sales in its lager beer segment, which remains the main contributor to the company’s revenue generation. Delta Corporation is the biggest brewer in Zimbabwe, producing brands such as Castle Lager, Golden Pilsener, and Zambezi Lager.
Senegal: Biosene Launches Couscous Factory
In Senegal, Biosene has opened a new plant at Bambilor, in the Dakar region, dedicated to the production of couscous.
The factory, which cost 91 million Fcfa ($150,000), has a production capacity of 250 kg/hour. It is expected to enhance the company's position in the agro-food industry in Senegal.
Egypt: Mars To Invest $250m In Expansion By 2025
In Egypt, the local subsidiary of confectionery giant Mars has announced an investment of $250 million over the next 18 months to increase the processing capacity of its plant based in the city of October 6. The amount will be used to introduce two new production lines.
Local media reports indicate that the move will bring the plant's annual production capacity up to 40,000 tonnes from its current level of 25,000 tonnes. Currently, Mars operates six production lines in the country, and manufactures around 150 different product ranges.
Congo: Saris-Congo To Launch Distillery By October
Société Agricole de Raffinage Industriel du Sucre du Congo (Saris-Congo), a subsidiary of French agro-industrial group Somdia, plans to complete the construction of its Nkayi-based distillery by next October.
At a total cost of 15 billion Fcfa ($25 million), the plant is set to process 25,000 tonnes of molasses, with the aim of producing over six million litres of ethanol a year to meet the needs of the local market. In Congo, Saris cultivates over 12,000 hectares of sugar cane, producing around 70,000 tonnes of sugar a year.
