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Nigeria’s government set to ban alcohol sold in sachets by 2023/4

Nigeria’s National Agency for Food and Drug Administration and Control (NAFDAC) is looking to phase out the production and sale of alcoholic drinks in sachets and small bottles by 2023/2024. NAFDAC and Ministry of Health officials have also met alcoholics drinks …
Nigerian dairy industry

Egyptian cheese company Domty and FrieslandCampina form partnership

Egyptian cheese producer Domty and FrieslandCampina have signed an MoU to explore joint business opportunities in Africa. The companies plan to collaborate to export cheese to other African countries. Domty was founded in 1988 in Egypt. It is a leader in the Egyptian …
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Jumia Q2 results – losses narrow, consumer numbers grow

Internet retailer Jumia’s Q2 results show losses are narrowing, consumer numbers have grown and the COVID-19 pandemic has been a mixed blessing – driving sales of FMCG products but hitting big ticket items, discretionary products and Jumia Food, its food …

GB Foods opens new $14.3m factory in Nigeria’s Ogun State

GB Foods, manufacturer of the popular Gino tomato paste brand, has inaugurated its new N5.5bn ($14.5m) factory in Ogun State. The new factory will be used to make its mayonnaise brand, Bama, for the Nigerian and West African market. The …

Nigerian buying platform Pricepally raises funding from GreenTec Capital Partners

Pricepally, the Nigerian buying platform, has secured an undisclosed investment from Germany’s GreenTec Capital Partners. Lagos-based Pricepally matches bulk buyers with farmers, manufacturers and wholesalers and offers 24-48 hour delivery on orders. Pricepally launched in November 2019. It has seen a …

Guinness Nigeria warns sales have been hit hard by COVID-19

Guinness Nigeria issued a notification of material circumstances, warning of the adverse effect of the COVID-19 lockdown on economic activity. It has particularly noted the impact on the on-trade sector. You can view Guinness Nigeria’s notification of material circumstances here. Guinness Nigeria has …
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Mr Price exiting Nigeria, Shoprite may follow

South African retailer Mr Price will exit Nigeria. The affordable clothing, sports goods and homewares retailer has said it will exit in H1 of its 2021 financial year. It has already closed four of its five stores in the country. Trendtype …
Nigerian dairy industry

FrieslandCampina WAMCO’s turnover in Nigeria up 8.5% year on year

In Nigeria FrieslandCampina WAMCO, has revealed its turnover for the financial year ended 31st Dec 2019 reached N161.8bn ($417.8m), an increase of 8.5% on 2018. Profit before tax was N18.7bn ($48.4m), up 15% on 2018. The company has warned that despite …

Google-supported startups trying to reinvent logistics in Africa

20 startups have been selected as part of the 5th edition of Google for Startups Accelerator Africa Program. Among them are three companies seeking to reinvent logistics in African markets: Thumeza, Amitruck and Send. Google’s prestigious Startups Accelerator Africa Program …