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.
Zambia: Seba Foods Secures $10m Loan
In Zambia, the U.S. Development Finance Corporation (DFC) has granted a $10 million loan to agribusiness firm Seba Foods. This financing will support the expansion of the Zambian firm's food production and storage capacity, strengthening the country's food value chain with its consumer products based on local flours.
Nigeria: Plan for 30,000-Hectare Rice Farm Unveiled
In Nigeria, the Sujimoto Group, a luxury real estate developer, plans to establish a 30,000-hectare rice farm in Enugu State. The Sujimoto Farm Estate will also include the installation of a paddy processing plant capable of producing around 800,000 tonnes of milled rice annually.
This new agricultural project aims to increase rice production, boost self-sufficiency, and stimulate the state's economic growth by creating over 10,000 jobs, particularly for young people and women.
Kenya: Naivas Unveils New Outlet
Kenyan supermarket chain Naivas has inaugurated a new store along the Thika Road highway, marking its second store opening this year and bringing the total number of Naivas outlets to 103. This expansion coincides with Quickmart, its close rival, racing to gain market share with the opening of its 60th store in Narok town. Established in Nakuru in 2006, Naivas employs a workforce exceeding 7,000 employees and currently operates in 16 counties.
Cameroon: Commissioning of Wheat Flour Mill Plant
In Cameroon, a wheat processing plant has been commissioned in Douala. Built by the Turkish industrial group Imas, the plant belongs to the miller World Food Industry. It has the capacity to process 160 tonnes of wheat per day into flour.
This new project should enable the company to meet the population's needs and extend its presence in the country, where it already has a unit with the same processing capacity, scheduled for delivery in 2021.
Nigeria: Nestlé Nigeria Reports Net Loss of $49m
Nestlé Nigeria, the local subsidiary of food giant Nestlé, reported a net loss of ₦79.5 billion ($49 million) across its operations in the financial year 2023, compared to a profit of over ₦ 49 billion ($31 million) a year earlier. This result comes despite a 22.4% increase in sales to ₦547 billion ($336 million) and a 42% rise in operating profit to ₦ 123.7 billion ($80 million).
Financing costs increased tenfold to 227 billion naira, while foreign exchange losses were estimated at ₦ 195 billion ($119.5 million). Nestlé Nigeria produces and markets several brands, including Maggi, Milo, Nescafé, and Nestlé Pure Life.
Egypt: Launch of New Poultry Processing Plant
In Egypt, Cairo 3A for Poultry, a subsidiary of the Cairo 3A agri-food group, inaugurated a poultry processing plant in the industrial zone of the town of 10 Ramadan in the Sharkia governorate. Costing a total of 600 million pounds ($19.4 million), this new unit is equipped to produce 9,000 tonnes of poultry products annually, including nuggets, fillets, and whole chickens.
This potential is set to be doubled to 18,000 tonnes over the next few years. This new investment should enable the company to increase local production to meet domestic demand for poultry products while supporting export opportunities.
