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Kraft Heinz buys Assan Foods to help accelerate growth in Africa

Kraft Heinz will purchase Assan Foods from Turkish conglomerate Kibar Holding, for approximately $100m. Assan Foods manufactures table sauces and has been a production partner for Kraft Heinz since 2019. Kraft Heinz plans to use Assan Foods to expand its presence …

Nigerian challenger supermarket chain Marketsquare opens its 16th store

Marketsquare, one of a growing number of challenger supermarket chains in Nigeria has opened its 16th store in the country. The new outlet is in Benin City, along Auchi Road. It is the company’s second outlet in the city. Marketsquare …
Nigeria country profile

Nigeria Country Profile

This report provides key information on Nigeria. It covers the economic landscape, key demographic indicators, living standards and income as well as logistics and infrastructure.

Ports operator DP World launches a new ecommerce platform in East Africa

Dubai-based DP World, the ports operator with operations in Senegal, Egypt, Mozambique, Somaliland, Rwanda, Algeria and DRC, has launched a new e-commerce platform in East Africa. The platform, called Dubuy,  allows vendors to connect with buyers in African markets. The delivery …

Pricepally raises six figure pre-seed round, looks to expand nationally

Pricepally, the Nigerian food buying platform where consumers can group together to get bulk discounts, has raised a raised a six-digit pre-seed funding round. The company is now looking to move into new markets, including Abuja and Port Harcourt. It is …
Shoprite Angola

Shoprite finds a buyer for its stores in Nigeria

Shoprite has found a buyer for its store network of 26 supermarkets in Nigeria. Nigerian shopping mall owner Persianas will buy Shoprite’s Nigerian subsidiary, Retail Supermarkets Nigeria Limited. The acquisition, which is subject to regulatory approval, will see it take over …
Cadbury Nigeria

Cadbury Nigeria’s revenues fell 10% in 2020

Cadbury Nigeria has reported a 10% decline in full year revenues for the period ended December 2020, to N35.4bn ($86.5m). Profits fell by 83% to N172.7m ($0.4m). The company has blamed the decrease on the COVID-19 pandemic. Cadbury Nigeria, which …

Ever Given, the Suez blockage and the impact on African consumer markets

On Tuesday 23rd March, the 400-meter, 224,000-tonne Ever Given container ship ran aground at the south end of the Suez Canal, blocking it completely. As it’s firmly grounded on both banks, efforts to refloat it are underway but it will take time. Some …
Jumia logo

Jumia looks to raise an additional $400m to cover costs

Jumia is selling 9m American depositary shares (ADS) in a move to raise more cash. The sale will raise almost $40m. It comes months after the company sold 7m shares to raise $243.2m. Jumia is still losing money and for …
Burger King, Africa

Burger King signs up Allied & Wow as its partner to enter Nigeria

Burger King has signed a development agreement with Allied & Wow to enter Nigeria. Allied & Wow is headed by Antoine Zammarieh, the former COO of Eat’n’Go, the Domino’s Pizza franchise holder in Nigeria. It has been a long time coming. As far …
Nigeria country profile

Nigeria’s food price inflation soars to 22%

Nigeria’s food price inflation has soared to 21.8% in February 2021. It is the highest rate of food price inflation in Nigeria since October 2005. Nigeria’s National Bureau of Statistics (NBS) has blamed the rise on prices for bread, cereals …

Facebook set to launch Instagram Lite in Africa

Facebook has announced the launch of Instagram Lite in sub-Saharan Africa. This lightweight version of the Instagram app, which is being rolled out in 170 countries, uses less data and is better suited for lower quality mobile networks. Instagram Lite …
Africa dot map

The Implications of the AfCFTA

This report provides in-depth data on the implications and impact of the African Continental Free Trade Area.

Konga

Nigerian ecommerce player Konga opens a new store in Owerri

Konga, the Nigerian Jumia ecommerce competitor, is opening a new bricks and mortar store in Owerri. Konga already has stores in Lagos, Abuja, Warri, Ibadan, Enugu, Uyo, Port Harcourt and Kano. Konga says the benefit is that customers will be able …

Mamuda Group inaugurates its new confectionery factory in Kano

Nigerian manufacturer Mamuda Group, better known for its leather tanneries, manufacturing of polypropylene sacks and agricultural trading businesses, has inaugurated a biscuit and chocolate manufacturing factory on the Challawa Industrial Estate in Kano, in Nigeria’s north. The factory is being billed as …