SOUTH AFRICA - Retailer Pick n Pay on Monday flagged that both headline earnings and earnings a share would drop more than 20 percent in the half year to June as costs related to its voluntary severance programme (VSP) weighed heavily on its balance sheet.
SOUTH AFRICA - Tongaat Hulett recently launched a project to build a refinery annexed to its Xinavane Sugar Mill at a recent ground-breaking ceremony by its CEO Peter Staude and the Prime Minister of Mozambique, Carlos Agostinho Do Rosário.
ETHIOPIA - The Ethiopian Meat & Dairy Industry Development Institute reported that the country generated 104 million dollars from meat, honey, wax, fodder products, and milk and dairy exports during the recently ended fiscal year.
KENYA - East African Breweries Limited (EABL) will borrow the Sh15 billion it needs to build its new brewery in Kisumu. The brewer said on Friday it will not be turning to its shareholders to fund the project through equity after it received an approval from the board to borrow.
TANZANIA - Tanzania’s antitrust agency has fined East African Breweries Ltd an undisclosed amount over failure to meet the terms attached to the deal when the company acquired a controlling stake in Serengeti Breweries.