Pearl Dairy ventures into honey production injecting US$2.7m worth of investment

UGANDA – The largest dairy processor in Uganda, Pearl Dairy Farms is seeking to diversify into commercial honey production, investing more than Ush10 bn (US$2.7m) into the venture. According to reports by Daily Monitor, the dairy processor will undertake the initiative in partnership with local dairy farmers as it seeks to diversify both the company and farmers’ incomes, given challenges that have faced the milk production and processing industry. More than 10,000 dairy farmers in the south western districts of Ntungamo, Kabale, Lyantonde, Mubende, Mbarara, Kiruhura, Bushenyi, Rukungiri and Sheema have been…

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Cameroonian agro-pastoral company signs US$16.2m agreement with API for construction of dairy plant

CAMEROON – Cameroonian agro-pastoral and industrial company of Ngaoussai in Adamaoua region, has signed a XAF9 billion (US$16.2m) investment agreement with Investment Promotion Agency (API) for the construction of a dairy plant. The plant will be utilized for the processing of milk, yoghurt, cheese and biogas. Upon completion of the project, it is set to create about 220 jobs, reports Business in Cameroon. Going by the country’s 2013 law on private investment which was revised in 2017, the structure will benefit from tax and customs incentives for five to ten years. Adamawa…

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Tunisian dairy firm Land’Or to invest US$11.3m in new plant in Morocco

MOROCCO – Land’Or, Tunisian dairy manufacturer has unveiled that it will be investing US$11.3 millon in setting up a new plant in Morocco. According to a Morocco News report, Land’Or said it be commissioning operations of the facility in the first quarter of 2021. The company will build the 3,300 square meter plant in a 1.3 hectare plot in Kenitra, near Rabat for local production of canned cheese, melting cheese, and fresh cheese. Land’Or seeks to sell most of the products in the Moroccan market as part of its strategy…

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Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

TANZANIA – The NMB Bank, a commercial bank in Tanzania, has set aside US$217.65 million (Tshs500 billion) to finance milk processing ventures in a bid to boost several milk processing plants in the country. The financial institution said that the funding, which will be available as a credit facility, is also aimed at boosting milk consumption per capita and increasing efforts of creating a ready market for the dairy sector. According to Mboka Mwanitu, NMB’s Research Officer, the move is geared towards assisting milk processing industry in the country adding…

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Brimstone exits Clover buyout deal following criticism from anti-Israel group

SOUTH AFRICA – Brimstone Investments Corporation, a South African investment firm has announced that it will not participate in the US$343.95 million acquisition deal of South Africa’s largest dairy firm, Clover Industries. Brimstone’s decision to pull out from the deal follows continued pressure arising from criticism by the lobby group Boycott, Divestment, Sanctions (BDS) South Africa on its involvement in the transaction led by an Israel based company. The acquisition is led by Israeli beverage firm Central Bottling Company (CBC), part of Milco SA in which Brimstone will hold a…

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French dairy group Lactalis buys Egyptian food company Greenland

EGYPT – French dairy giant Lactalis has acquired Egyptian food and beverage company, Greenland Group through its joint-venture facility, Lactalis-Halawa in a transaction whose price was not disclosed. Based in Cairo, Egypt, Greenland is a private company operating within the food, beverage & tobacco sector focusing on packaged foods & meats.  It mainly operates in cheese, and has five production sites in Egypt employing 1,250 people. In the statement announcing the deal, Lactalis said the acquisition will strengthen the joint venture’s position as the major dairy products manufacturer in Egypt. “The…

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