A group of multinational firms with operations in Africa have come together to launch the Africa Plastics Recycling Alliance in a bid to reduce the problem of plastic waste across the continent.
The companies – Diageo, Unilever, The Coca Cola Company, Nestlé and Promasidor unveiled the alliance at the CEO Africa Forum in Kigali, Rwanda.
Promasidor Nigeria Limited, makers of Cowbell and Loya milk, among others recently held its Distributors Forum in South Africa, and its Nigerian distributors were flown to Cape Town for the event dubbed – ‘Promasidor Distributors Forum’.
Japanese food and ingredient manufacturer, Ajinomoto has agreed to buy a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen).
The stake gives Ajinomoto access to Promasidor’s distribution network in 36 African countries. The deal values Promasidor at about $1.6bn.
Ajinomoto seeks to attract Africa’s growing middle class consumers to its products. The company sees rising demand for low-priced foods and daily essentials on the continent.
Japanese firm Ajinomoto and PepsiCo are among companies vying for a stake in African dairy and drinks company Promasidor.
The deal which could put a price of $1bn on Promasidor will give the buyer access to the firm’s distribution network across Africa.
Promasidor Nigeria Limited, maker of Cowbell milk among other products has introduced two new infant milk formulas to the Nigerian market – Cowbell Tina 1 and Cowbell Tina 2.
The products were unveiled at a Breastfeeding symposium organized by the company and titled “The Nutrition Wisdom of Infant Feeding Choices”. The event was held at the Civic Centre, Victoria Island, Lagos.
