Teddy Sagi snaps up Wow Cosmetics
Billionaire Teddy Sagi has struck a deal to acquire Israeli make-up brand Wow Cosmetics for US$15.7 million via his London-based Fiver firm, according to a report published by Globes. The deal will allow the brand to launch an e-commerce site as well as expand its...
Tanzanian government to support burgeoning cosmetics industry
The Tanzanian government has pledged to support its burgeoning cosmetics industry in the hope that the country will reap the rewards in the form of job creation, GDP growth and infrastructure improvements, according to a report published by The Citizen. “The sector...
Symrise to launch R&D facility in Nigeria
Symrise is set to launch a new laboratory in Nigeria, according to a report published by Vanguard. Located in Lagos, the R&D facility will open at the end of this week, and represents an increased commitment to the East African market as well as providing the...
Ex Frutarom chief steps down from CBD firm
The former CEO of flavors and fragrance giant Frutarom, Ori Yehudai has resigned from his role of Executive Chairman at Sade Group, according to a report published by Globes. Yehudai joined the CBD manufacturer in May. Globes reports that it is not known whether the...
Africa anticipating beauty and fashion boom as trade agreement comes into force
The African continent is hoping that a landmark trade agreement, the African Continental Free Trade Agreement, which wipes out tariffs for a number of FMCG goods between member states will boost trade in clothing and cosmetics, according to a report published by the...
Mum’s the word: Kenya’s MumsVillage launches online shop
Kenyan parenting website MumsVillage has launched an online shop to sell mum and baby products, according to a report published on Business Insider by Pulse. The online community participated in impact investor Gray Matters’ digital acceleration program earlier this...
We want to become a shea hub: Nigeria reveals ambitious plans for shea farmers
The Nigerian government is hoping to transform the country into a ‘shea hub’, exporting high quality shea butter and shea-based products in order to boost employment and the economy, according to a report published by The Nation. At present the country accounts for...
Solabia takes majority stake in Israeli Algatechnologies
French biotech firm, Solabia has acquired an 80 percent stake in Israeli Algatechnologies from Grovepoint and JCA Charitable Foundation, according to a report published by Globes. Terms of the deal were not disclosed, but the deal is estimated at around US$80 to 100...
Turkey mirrors U.S. with cosmetic import tariff reductions
Turkey has mirrored the move by the U.S. to half Turkish import tariffs last week with the Turkish Trade Ministry having announced a reduction in tariffs on U.S. imports, according to a report by Reuters. The move follows a previous tariff price hike from both...
Strike action hits Dis-Chem’s earnings
South African pharmacy chain Dis-Chem’s earnings missed analyst estimates after industrial action affected performance in the final quarter of the year, according to a report published by Reuters. The drugstore operator was expected to report earnings of 87 cents per...
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