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...
Long4Life shares soar as sales jump to ZAR3.6 billion
Shares in South African investment firm Long4Life leapt 5 percent last week as the company posted better-than-expected sales for fiscal 2018 – it’s first full-year report since it listed on the South African stock exchange in 2017, according to a report published by...
Not on my watch: Ugandan Cabinet oppose medical cannabis plan
The Ugandan First Lady, Janet Musevani and her cabinet have spoken against a decision to allow an Israeli company to grow marijuana for medical use in the country, according to a report published by All Africa. Musevani dubbed the suggestion that cannabis be...
Things can only get better? PZ Cussons issues trading update
PZ Cussons has released a trading update in respect of the year to May 31, 2019. The UK beauty manufacturer, who has struggled due to ‘extremely challenging conditions’ in Nigeria, issued profit warnings in both December and January. However, in its latest update, the...
Lululab launches AI skin care assistant at Beautyworld Middle East
AI beauty start-up lululab debuted its AI skin care assistant, LUMINI, at Beautyworld Middle East this week. The Samsung spin-off’s latest launch is said to provide customers with bespoke skin care solutions via a three-step service (face scanning, skin analysis and...
Unilever Mashreq has piled EGP500 million into Egyptian infrastructure in 3 years
Unilever Mashreq’s Marketing Director has revealed that the company has invested heavily in infrastructure in Egypt over the last three years, according to a report published by Mena FN. Sherine Abdel Moneim estimated total spend since 2016 at EGP500 million, as the...
Kenyan socialite Amber Ray launches lipstick range
Kenyan Instagram influencer and model Amber Ray has launched a range of lipsticks, according to a report published by Pulse. “Finally guys, am honored to introduce my lipstick line Zumaridi by Amber, it’s light, doesn’t stain and it lasts long and no cracked lips. It...
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