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: Releaf Raises $3.3 Million To Expand Business
Nigerian agritech firm Releaf has secured $3.3 million in funding to support the launch of two new palm nut extraction technologies.
This funding follows a $4 million seed funding round in September 2021, which was used to establish Releaf's palm oil extraction plant. The company aims to capture a larger share of Nigeria's $3 billion palm oil market.
Morocco: Kenzpat Launches $19 Million Couscous And Pasta Factory
Moroccan food company Kenzpat has opened a new factory in the Skhirat region dedicated to the production of couscous and pasta.
The factory, which cost 200 million dirhams ($19 million), has an annual production capacity of 15,000 tonnes of couscous and 23,000 tonnes of pasta. It has already created 220 direct and indirect jobs.
Zimbabwe: National Foods Plans To Launch New Flour Mill by March
Zimbabwean agribusiness giant National Foods Limited (NFL) is building a new flour mill in Basch Street, Bulawayo City, which is due to be commissioned by the end of the first quarter. The new plant will increase NFL's supply of wheat flour by 2,000 tonnes per month.
The move is a part of an expansion plan that also includes the construction of a feed manufacturing facility, as well as the establishment of a pasta and cookie factory in the capital city of Harare. The company operates in several business segments, including cereals, oilseeds, cookies and animal nutrition.
Côte d'Ivoire: Afrique Phyto Plus Gets Financial Boost
Ivorian agricultural inputs trading company Afrique Phyto Plus Group has received a €5.5 million ($5.8 million) mezzanine debt investment from UK-based investment firm AgDevco. The funding will help Afrique Phyto Plus increase its distribution capacity in Côte d'Ivoire and throughout West Africa, as well as expand its presence in new markets in the Sahel and Central African regions.
The company, which was founded in 2023, aims to increase its production volume and improve the availability and accessibility of certified inputs for smallholder farmers.
Gabon: Turkish Investors To Launch A New Fish Processing Company
Businessmen from Turkey plan to establish a fish processing company in Gabon called 'Bon Gabon'. The cost of the new unit has not been disclosed, but it is expected to enhance the fishing sector's contribution to GDP and reduce imports on the international market.
Nigeria: Shea Butter Production Unit Announced in Kwara State
The Kwara State Executive Council has approved the establishment of a shea butter manufacturing unit on a site in Kaiama by agro-industrial company SAO-Agro Allied Company.
The unit, which will cost 2.6 billion nairas ($5.8 million), will have a processing capacity of 50 tonnes of shea nuts per year and provide employment opportunities for more than 10,000 women and youth involved in shea gathering. Nigeria produces approximately 370,000 tonnes of shea butter annually according to 2017 data from the Central Bank of Nigeria (CBN).
© 2023 European Supermarket Magazine – your source for the latest A-brand news. Article by Espoir Olodo. Click subscribe to sign up to ESM: European Supermarket Magazine.
