Food Business Africa News
AFRICAN NEWS HEADLINES
Uganda Bureau of Standards appoints new Executive Director
UGANDA – The Uganda Bureau of Standards (UNBS) has announced the appointment of James Nkamwesiga Kasigwa as its new Executive Director, effective May 2024, replacing Dr. David Livingstone Ebiru, who was dismissed from the position in July last year . . . More
East Africa coffee sector to receive US$60M trade finance facility
EAST AFRICA – International Finance Corporation (IFC) and Absa Group Limited have joined forces to offer a commodity trade finance facility of up to US$60 million to Volcafe, seeking to bolster operations in East Africa and support coffee farmers in the region . . . More
Kenya to develop national tea brand for global market
KENYA – Kenya’s President William Ruto has unveiled plans for the government to collaborate with a UK-based company to create a distinct Kenyan tea brand for international markets to enhance the country’s earnings from tea exports by elevating its visibility and market value . . . More
Viral disease CSSVD slashes cacao harvests by up to 50%
CÔTE D’IVOIRE – The rapidly spreading Cacao Swollen Shoot Virus Disease (CSSVD) threatens cacao harvests in cocoa-producing countries, slashing harvests by up to 50% in some areas . . . More
Kenya revises tax remittance policy for alcohol makers
KENYA – Kenya’s Treasury Cabinet Secretary is seeking approval to extend the tax remittance period for alcohol manufacturers to five days from the previously effected 24 hours following widespread criticism and concerns over falling profits . . . More
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GLOBAL NEWS HEADLINES
Nestlé to invest US$196.5M in Brazil to boost Nescafe production
BRAZIL – Nestlé has announced plans to invest 1 billion reais (US$196.5 million) in Brazil by 2026 to ramp up production capacity and expand out-of-home sales of its Nescafe lines, focusing on attracting younger consumers . . . More
Atlantic Sapphire appoints Pedro Courard as new CEO
NORWAY – Atlantic Sapphire has announced the appointment of a new chief executive officer effective August 2024 succeeding founder Johan Andreassen, who stepped down from the role six months ago . . . More
AB InBev reports 2.6% growth in revenue in Q1
BELGIUM – AB InBev, the world’s largest brewer, has reported a 2.6 percent increase in revenue year-on-year to US$14.55 billion in the first quarter of 2024, despite a 0.6% drop in volumes sold by the brewing giant . . . More
Ingredion reports 12% decline in revenue in Q1
USA – Ingredion has reported a notable 13% increase in net income to US$216 million despite witnessing a 12% decline in reported revenue to US$1.88 billion during the first quarter of 2024 . . . More
Alabama State bans lab-grown meat
USA – Alabama Governor has signed the Alabama Bill prohibiting the “manufacture, sale, and distribution of food products made from cultured animal cells,” becoming the second state in the U.S. to ban lab-grown meat, following Florida’s similar action earlier this month . . . More