PZ Cussons sells its US$1m Ushindi soap brand to Pwani Oil Products

KENYA – PZ Cussons, a personal and homecare conglomerate, has sold its Ushindi soap brand to Mombasa based Pwani Oil Products for US$1 million (KSh107 million), following competition from cheaper imports. The Competition Authority of Kenya (CAK) said it had approved the deal, underlining the trend where multinational consumer firms have been selling their products to home grown rivals. Pwani Commercial director Rajul Malde said that the firm will, following the purchase, now upscale the production and distribution of Ushindi line of products which includes bar soaps and laundry detergents.…

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PZ Cussons Ghana delists from the Ghana Stock Exchange

GHANA – The Ghana Stock Exchange (GSE) has approved the delisting of a major consumer goods company, PZ Cussons Ghana from the stock market, following the review of offer documents to initiate the process. In October 2019, PZ Cussons announced its intention to delist from the stock market following the unanimous approval of a resolution seeking to undertake the Offer and to De-List the Company from the GSE. According to PZ Cussons Ghana, the proposed de-Listing is in line with the company’s plans to achieve operational efficiency, by providing management of…

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PZ Cussons announces plans to delist from Ghana Stock Exchange

GHANA – British multinational manufacturer of personal healthcare products and consumer goods PZ Cussons has announced its plans to delist from the Ghana Stock Exchange. The manufacturer becomes the sixth company to delist from Ghana’s stock exchange within a period of two years. PZ is one of the oldest and most highly capitalized companies on the country’s bourse and being a multinational of high pedigree has always been regarded as a blue chip. Its impending delisting is therefore seen by equity investors and capital market regulators and operators alike as…

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Jumia partners with over 50 brands to expand it authorized distributors

KENYA – Jumia, an online shopping firm, has partnered with over 50 brands to launch their Official Online Stores with Jumia Mall, allowing customers to purchase their favourite products exclusively from authorized distributors. It has also signed a new partnership deal with the Postal Corporation of Kenya (Posta) that will grow the e-commerce firm’s pick-up points across the country in the wake of today’s launch of “Mall for Brands” concept. The mall service promises same-day delivery of products. The deal with the State agency will see the Africa-focused e-commerce platform…

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