Mar 18, 2018 Last Updated 10:53 AM, Mar 16, 2018

ACCBC to invest $500m into MENA region

ABN – Aujan Coca-Cola Beverages Company (ACCBC) will invest US$500 million in its expansion in the Middle East and North African (MENA) region over the next three years.

The company handles the manufacturing and distribution of brands such as Rani and Barbican.

ACCBC CEO Nicolaas Nusmeier said: “Major investments in capacity, geographical coverage, and brand development will allow us to capitalise on the growth potential for the beverage industry in the MENA region.”

The company also plans to invest in a factory in Egypt that will supply and manufacture brands for African markets.

Phil Gandier, the MENA head of transaction advisory services at EY, said: “The majority of MENA M&A transactions tend to occur in consumption-led sectors such as food and beverage, retail, health care and education, which have little correlation to economic activity and changes in oil price, so the positive trend is expected to continue.”

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AH-Vest acquires tomato processing facility

ABN – South Africa-based AH-Vest (JSE: AHL) has acquired Tiger Brands tomato-processing factory in Limpopo for an undisclosed sum.

The factory is located in Tzaneen where more than 60% of South Africa’s tomatoes are produced.

Following recent shortages of tomato paste in South Africa, AH-Vest has had to rely on the importation of products.

Rossi Catelli will also be providing the newly acquired-facility with state-of-the-art equipment to increase its production capacity.

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Kenyan government invests $5.5m into Mumias Sugar

ABN – Kenya’s government has announced plans to invest US$5.5 million into the country’s largest sugar company Mumias Sugar (NSE: MSC).

Around 30% of the country’s annual sugar is produced by Mumias Sugar, which has been struggling for money recently.

Following the investment the government will change the company’s management and prosecute any managers who may have played a part in the company’s near collapse.

The company dismissed two managers last year due to questionable sugar sales and importation transactions.

Agriculture minister Felix Koskei said the company’s decline was: “largely due to key lapses in management and governance which have resulted in the company incurring losses or being locked into unfavourable trading arrangements.

“Given the strategic role that the company plays in the Kenyan economy we shall do all it takes to rescue this market leader.”


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