Pick n Pay has reconfirmed that its long awaited entry into Nigeria will take place with local conglomerate AG Leventis. The company has also revealed plans to double store numbers of its discounter format Boxer to 600 within the next …

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 …

Shoprite has confirmed it will close its two remaining stores in Kenya, in an otherwise impressive set of annual results that have seen group sales increase by 6.4% to R156.9bn ($9.32bn) in the 52 weeks to 28th June 2020. There is …

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 …

The Central Bank of Nigeria has introduced strict new controls that affect how importers and distributors can access fx they need to pay for goods brought into the country. If they continue, the new controls will add cost to the …

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, 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 …

In news that will shock few people in Nigeria, Shoprite has confirmed its exit from the country. For the financial year ended June 2020, the Nigerian stores registered a sales decline of -6.3% year on year, in Rand terms. In …

Nigeria’s B2B e-commerce startup TradeDepot has raised $10m in a new round of funding. The company, which has a distribution network of 40,000 small retailers in Nigeria, was launched in 2016. TradeDepot reportedly received a $3m investment from digital investor Partech in a …

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 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 …

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 …

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 …

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 …