Baking and dairy ingredients specialist Synercore secures US$4.7M from Norfund to fund expansion plans

SOUTH AFRICA – Norfund, the Norwegian investment fund for developing countries, is investing ZAR 80M (US$4.7M) in convertible debt in the expansion plans of Synercore Holdings, a South African food ingredient manufacturer. Established in 2016, Synercore has a specialty in the formulation and manufacture of food ingredients which it sells to fast-moving consumer goods companies, precisely in the dairy and…

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Tiger Brands appoints Pieter Craill as new Finance Director for cereals

SOUTH AFRICA – South African packaged goods company Tiger Brands has appointed Pieter Craill as the Financial Director for cereals effective from 1 February 2023. Peter joins the company from confectionery products maker Aldor Africa where he held the position of head of finance and administration. He previously served as the Chief Finance Officer of Mister Sweet, a major confectionery…

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Gavin Hudson resigns as Tongaat Hulett CEO amid delayed business rescue plan

SOUTH AFRICA-Gavin Hudson has resigned as CEO of Southern Africa’s biggest sugar group Tongaat Hulett effective February 28 adding another blow to the company’s business rescue plan. His resignation follows the second postponement of the publication of the sugar company’s business rescue plan by a month according to the group’s business rescue practitioners (BRPs). Tongaat Hulett has been in existence…

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South African prices for frozen potato chips set to fall as anti-dumping duties lapse

SOUTH AFRICA-The anti-dumping tariffs on French fries placed on three European countries by the International Trade Administration Commission of South Africa (Itac) have lapsed creating room for cheaper imports. This means relief to potato consumers according to frozen food importer Hume International. In July last year, concerns were raised about higher prices and even shortages after the International Trade Administration…

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Nambu Group secures funding to upgrade and expand alternative protein production facilities

SOUTH AFRICA- Nambu Group, a speciality in converting food waste into high-value protein feed has secured funding from South African Impact investor E Squared Investments to upgrade and expand its facilities. Founded by Allan Gray Fellow Founder and CEO, Lowell Scarr, Nambu Group upcycles food waste by feeding them to insects which are then converted into high-value protein feed for…

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South African sugar industry could suffer losses of up to US$41.9M due to load shedding

SOUTH AFRICA – South Africa’s cane growers have appealed to the government to implement measures to mitigate the impact of load-shedding which if not checked will see the industry lose R723 million (US$41.9M) this year. However, the estimate’s scenario modeling applies to load-shedding at stages 4-6 which if escalated to stages 6-8, the industry could lose more than R1.8bn (US$104.3M)…

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South Africa to maintain status as corn exporting country despite a decline in annual production

SOUTH AFRICA- The Foreign Agricultural Service of the US Department of Agriculture (USDA) is confident that South Africa will maintain its status as a corn exporting country despite declines in production. According to USDA, the estimate for South Africa’s total corn crop (subsistence and commercial production) remains unchanged at 15.6 million metric tons for the marketing year 2022/23. The forecast…

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South Africa’s  sugar sector forecasts higher sales, calls for exemption from HPL

SOUTH-AFRICA-The South African sugar sector forecasts meeting local sales of 300,000 tonnes as it marked year 3 under the all-important Sugarcane Value Chain Master plan 2030 but the Health Promotion Levy (HPL) may limit its realization. Trix Trikam, executive director at the South African Sugar Association (SASA), laments the imposed tax on sugar which according to him harms the sector…

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PepsiCo SSA launches US$16.92M production line to boost its Weet-Bix capacity

SOUTH AFRICA – PepsiCo Sub-Saharan Africa has launched a new production line at its Weet-Bix plant in Atlantis, West Cape worth R300m (about US$16.92m) in a quest to boost its production capacity. Weet-Bix was first introduced in South Africa in 1930 and remains South Africa’s number one-selling breakfast cereal. Made from whole grain wheat, Weet-Bix has for generations held pride…

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Montego Pet Nutrition consolidates Gauteng operating units into newly built manufacturing hub

SOUTH AFRICA – Montego Pet Nutrition (Montego), Africa’s largest privately owned pet care manufacturer, has completed construction of its purpose-built facility located in Centurion, Gauteng – South Africa worth R30m (US$1.74m). The new establishment, sitting on a 21,600m2 piece of land features a production hub, storage space, distribution center and offices, and is set to consolidate all three of its…

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