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 …

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 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 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’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 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 …

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 …

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 …

Nestlé has announced bold plans to reach into 120,000 villages in India in the next two to three years. The Swiss giant estimates that the average size of the target villages is 5,000 people and that, if successful, it can …

Majid Al Futtaim (MAF) has revealed plans to open more than 100 Carrefour stores this year across the Middle East, Africa and Eastern Europe in 2021. The new store openings would see its total store network rise from 358 stores …

Streaming service Spotify is expanding into more than 80 new country markets, as well as adding 36 new languages to its platform. The expansion will include 40 African countries, including Angola, Cameroon, Côte d’Ivoire, Kenya, Tanzania, Uganda, Ghana and Nigeria. Spotify …

Eat‘N’Go, the Cold Stone Creamery franchise holder in Nigeria has launched a new web app to support online ordering for customers. Eat‘N’Go continues to launch new stores in the country, and operates more than 100 stores nationally. Eat‘N’Go is also the …

Unilever engineers have created a prototype nano factory capable of fitting in a 40ft container. The prototype can take raw materials, process them, package and label them. It is currently being trialed in the Netherlands, producing liquid bouillon. Unilever says …

Leading UK supermarket chain Sainsbury’s has selected International Distribution Network (IDN) as its distributor partner in the Middle East and North Africa. The Omani-based distributor, which was founded in 2020 will look after Oman, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Jordan, Pakistan and Egypt from its operations …