Mar 24, 2017 Last Updated 10:30 AM, Mar 24, 2017

Choppies acquires Ukwala Supermarket

ABN – Botswana-based food retailer Choppies has announced that it will acquire 10 Ukwala Supermarket outlets in Kenya for R102 million.

Three of the acquired stores are based in the country’s capital Nairobi and the others are based in Nakuru and Kisumu.

Choppies will establish a joint-venture local partner in Kenya who will operate 25% of the company’s operations.

The acquisition further implements the company’s plans to expand its operations throughout Africa.

Choppies has set an expansion target of 200 stores across six African countries by year-end 2016.

@ABNetworkOnline

Sugar biofuel plant to start-up in Angola

ABN A sugar-based biofuel plant is to start operations in Angola next month after a year of delays caused costs to escalate by 50% to $750 million.

In 2015 the plant will convert 36,000 tonnes of sugar, grown on a 42,000-hectare plantation, into 6,000 cubic metres of ethanol.

The plantation and fuel plant are located 320 kilometres east of Luanda and owned by Cia de Bioenergia de Angola Lda, known as Biocom, which is partly owned by Brazilian construction company Odebrecht SA.

Biocom managing director Carlos Henrique Mathias said in an interview that the sugar plantation is the largest farm in the country and will only get bigger as the project moves into phase two.

The aim is to increase the plantation’s output to 254,000 tonnes per year by 2021, and then to double that by 2025 depending on sugar prices.

Angola currently consumes 400,000 tonnes of sugar per year, of which 225,000 tonnes are imported.

Biocom’s sugar plantation will help the country to achieve its aim of becoming self-sufficient in the commodity.

@ABNetworkOnline

Brazil invests $80m in Kenyan agriculture

ABN – The Brazilian Embassy has announced that it has invested US$80 million in Kenya’s agricultural sector.

A memorandum of understanding has been signed by the two countries, which will see Kenya acquire the loan for the mechanisation of its agriculture sector.

Kenya’s Agriculture, Livestock and Fisheries Ministry signed the MOU alongside the Ministry of Development, Industry and Foreign Trade of Brazil under the More Food International Programme,

The programme focuses on providing African countries with funds to invest in the modernisation of small scale agriculture. 

@ABNetworkOnline

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