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Egyptian snack manufacturer Edita secures $5.7m in funding

Edita Food Industries, an Egyptian market leader in snack foods, has secured financing contract EGP90m ($5.7m) from the National Bank of Kuwait (NBK). The loan will be used to develop new production lines and improve production quality. The loan is …
Simbisa Brands Zimbabwe

Simbisa Brands revenues rose sharply in H2 2020

Innscor’s Simbisa Brands, the leading fast food operator in Zimbabwe, has seen half year revenues rise by 101% from ZWL3.9bn ($10.7m) to ZWL8bn ($22.1m). Operating profits increased by 75% over the same period.  Simbisa Brands operates and QSR franchises. Its …
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 …
Vivo Energy

Vivo Energy expands its network in Uganda and Rwanda

Vivo Energy, the Shell service station licensee in Africa, has added new sites in Uganda and Rwanda as it seeks to cement its market leading positions. In Rwanda, it has acquired assets from Energy Solution (ENES) and GEMECA to expand …

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 …
Shoprite Angola

Shoprite launches K’nect, its new mobile network

Shoprite has launched its new mobile network, K’nect. The network is designed to appeal to low income consumers with a simple tariff structure promising flat call and data rates. The service uses the mobile network infrastructure of Cell C, which …
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 …

Domino’s Pizza enters Ghana with Chanrai Summit Group joint venture

Domino’s Pizza has entered Ghana with franchisee Fire Foods Africa, part of Chanrai Summit Group. The pizza chain will launch operations in Ghana with two new outlets, both in Accra. It marks another market in Africa for the brand, which also has …
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 …
Carrefour MAF

Carrefour sales up 30% year on year in Kenya

Majid al Futtaim (MAF), the Carrefour franchisee in the Middle East, Egypt and East Africa, has revealed that sales in Kenya rose by 30% in 2020. The year was marked by several new store openings, including taking over Shoprite’s former …