The Procter & Gamble company announced Sunday that it will inject US$50 million in Egypt to establish a new production line to manufacture masks and increase operations at the company’s two factories in 6th of October City. This comes as part of the company’s plans to expand exports and domestic manufacturing.
The new investments will be used in establishing new production lines and increasing the number of outlets, El-Afifi added in a statement released by the cabinet on Sunday. Coca-Cola is planning to invest about EGP 1 billion in 2020, he noted, adding that the company is committed to supporting community development initiatives, such as its initiatives to develop 100 of the neediest villages in the country.
Nestle, has embarked on a robust business transformation plan focused on future-proofing its business model in Zimbabwe through import substitution and development of local supply chains. Having been operational in the country for the past 60 years, the company said the strategic vision for its business is to create a solid foundation for the next 60 years and beyond, always keeping the focus on long-term sustainability.
PepsiCo Egypt has a plan to inject $515 million (EGP 8.37 billion) worth of investments into the local market during the period from 2018 to 2021. The company already allocated $100 million (EGP 1.62 billion) to invest over 2020 in Egypt, which has been a strategic market for more than 70 years. PepsiCo Egypt has new investments and expansion plans for its subsidiaries Pepsi Cola Egypt and Chipsy for Food Industries.
Dubai-based Emerging Markets Property Group (EMPG) and OLX Group, owners of homegrown technology firms Bayut and dubizzle, have announced the merger of their Mena and South Asia operations to form a Dh3.6 billion ($1 billion) Dubai-based unicorn company. The merger is the latest in a series of entrepreneurial successes that reinforce Dubai's reputation as a global hub for talent, enterprise, investment and innovation.
PepsiCo has invested in Rude Health in a deal valuing the free-from brand at more than £70m, it has emerged. The soft drinks giant acquired a 10% stake in the alternative dairy, cereal and snack business for £7.2m, according to Companies House accounts for PepsiCo Holdings. PepsiCo became the fourth largest shareholder in Rude Health after buying a slice of co-founders Nick and Camilla Barnard’s majority shareholding.
Nestlé UK and Ireland will begin sourcing Rainforest Alliance-certified cocoa for the KitKat brand in October 2020 after a decade of sourcing Fairtrade-certified cocoa. Nestlé said it seeks to “harmonize” certification for the confectionery products in its global portfolio. The company has offered financial support to Fairtrade farmers who also wish to certify their farms under the Rainforest Alliance Sustainable Agriculture Standard.
Vivo Energy, in partnership with Baobab Khulisani, agreed to form a new joint venture, trading as Synergy Foods Pty. Ltd. This new joint venture will manage and operate the KFC Namibia franchise, currently operated by Atlantic Chicken Company. Synergy Foods plans to invest to grow the KFC business in Namibia and will both refresh and improve current KFC restaurants and look to open new ones, including adding restaurants at Shell branded service stations.
The InvestGR Forum on Monday announced the start of its three-year strategic partnership with Japan Tobacco International (JTI) with this year’s event, titled “Greece in the Pole Position,” which due to the coronavirus pandemic will be online.
Nestlé brand Maggi, has launched a first-of-its-kind website in Central and West Africa, offering fresh new twists to well-known African dishes. The brand’s latest launches, are just a few of the innovative ways Maggi is meeting its consumers’ digital and nutritional appetites, while also contributing to Nestlé’s purpose of enhancing quality of life and contributing to a healthier future.
The Saudi Customs has confirmed that e-commerce transactions of goods imported from outside Saudi Arabia will be subject to a 15 per cent Value Added Tax (VAT) on or after 1 July 2020.
As Oman sees a significant rise in e-commerce business, the governments plans to Omanise the online delivery profession as a huge demand for delivery jobs in the country rises. In a statement, the Ministry of Transport said that creating a positive environment for Omanis in the ‘delivery business’ comes in the light of the growth of e-commerce and the changing consumer behaviour in Oman, especially in the current circumstances.
E-commerce giant Amazon has launched its shopping site in Saudi Arabia, rebranding Souq.com as Amazon.sa. The launch which comes amid growing interest in online shopping amid the coronavirus crisis across the world also reflects that Amazon's business interest in the kingdom did not dwindle even in the face of the e-commerce giant's CEO Jeff Bezos' tensions with Riyadh following the publication of his leaked private conversations with his girlfriend last year.
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