Apr 25, 2018 Last Updated 9:12 AM, Apr 25, 2018

Tanzania implements agriculture insurance

ABN – Tanzania is implementing agriculture insurance to help the 80% of its population that relies on the sector for income.

It is hoped that the insurance will help solve most of the risks associated with farming.

These risks have been prohibiting about 80% of the population from accessing lending houses.

Israel Kamuzora, the commissioner for insurance, said: "Crop and agriculture insurance is fundamental to the national economies as adverse weather events like drought, floods and storms that cause heavy losses to farmers pose a major threat to production and reduced farmers' incomes.”

@ABNetworkOnline

Nigerian Breweries introduces sparkling drink

ABN – Nigerian Breweries has created a new alcoholic beverage called ACE Passion Apple Spark.

It will be the first sparkling alcoholic drink that the company has produced.

Walter Drenth, marketing director at Nigerian Breweries said: ACE Passion Apple Spark is a cool innovation from Nigerian breweries and it is certain this Christmas will be very exciting for young consumers who like to enjoy the good life with friends and family.” 

The new drink will be introduced in 2015 and targets Nigeria’s youths.

@ABNetworkOnline

Famous Brands acquires a stake in Cater Chain

ABN – Johannesburg-headquartered Famous Brands (JSE: FBR) has acquired a 75% stake in Cater Chain Food Services for an undisclosed sum.

Cater Chain owns 15 production facilities containing the latest technology processing equipment and large freezers.

Famous Brands hopes the acquisition will bring it closer to its aim of becoming a total food service solutions company.

Famous Brands CEO Kevin Hedderwick said: “This acquisition appealed to us for a number of reasons.

“The major upside will be the opportunity to integrate currently outsourced business into the facility at a relatively low cost of entry and derive an immediate income stream compared to the alternative of constructing a purpose-built facility, which would entail higher set-up costs and a three to four year lead-time before synergies could be leveraged through the business.

“In addition, the facility will provide additional storage capacity in terms of our bulk beef requirements.”

@ABNetworkOnline

This Month's Issue

abn v5iCover finalweb

rgn-web-banner