Saudi Arabia Drastically Reduces Poultry Imports

Over the past two months, the Saudi Food and Drug Authority (SFDA) added several new measures that will have serious repercussions on the Saudi import poultry market. On May 5, SFDA suspended 11 Brazilian poultry plants from exporting to Saudi Arabia, which accounts for 60 percent of Brazil’s poultry exports to the Saudi market.

Meanwhile, in early June, SFDA suspended poultry imports from France and Ukraine, and all three countries were suspended by SFDA for different reasons.

Currently, it remains unclear how Saudi Arabia will meet poultry consumption since it relies heavily on imports. Unfortunately, the United States will not be able to export to Saudi Arabia as long as the country maintains its strict ban against stunning during the poultry slaughtering process.

GDP Nigeria's Poultry affected by Maize Ban Brandspurng
Photo by christin hume

To date, SFDA has not provided key information on the ban, such as the reasons for the suspension, how long the suspension will last, or what the Brazilian companies should do to expedite the lifting of the import embargo.

According to some reports, SFDA suspended the 11 facilities because of contamination but no specific information was provided on the nature of the reported contamination. Several local poultry meat importers and analysts have asked that if exports were suspended because of reported contamination, why did SFDA not recall poultry meat products in the
Saudi market from the suspended facilities.

Others are also curious why Saudi Arabia banned imports effective May 5, instead of providing a grace period until May 23.

Renewed Import Interest for U.S. Poultry

The United States is one of the countries that is approved and registered with 13 poultry establishments listed as active suppliers. However, imports from the listed U.S. facilities were stopped at the end of May 2018, when the SFDA implemented a ban on the use of all sorts of immobilizations in the poultry slaughtering process.

In the aftermath of the suspension of the 11 Brazilian poultry export facilities, FAS/Riyadh has received a significant number of calls from Saudi poultry meat and product importers, who are seeking active U.S. poultry suppliers. Despite the interest, U.S. poultry exporters will not be able to meet demand as long as the Kingdom enforces its drastic ban against poultry stunning in the poultry slaughtering process.

Shoprite Opens Its 40th Store In Zambia

Shoprite, Africa’s leading retailer is continuing to expand its footprints outside its traditional market, South Africa, opening its 40th outlet in Zambia.

Located at the Jacaranda Mall in Ndola, the new branch promises to continue with its legacy of low prices, offering a variety of products, in addition to sourcing 90% of its goods and services locally.

Unlike its other operations outside South Africa, which have been impacted by currency devaluations, supply issues and low consumer spending, Shoprite Zambia has been showcasing stellar performance with sales increasing by 15.8%, in the half-year period.

“The opening of our 40th Shoprite supermarket in Zambia is a very special occasion. We converted the store from an existing opposition store and opened it in the record time of just over one month. It normally takes about 5 months to open a new store,” said Charles Bota, General Manager of Shoprite Zambia.

The retailer introduced Zambia to world-class shopping with the opening of its first supermarket in 1995, on Cairo Road in Lusaka, and has expanded throughout the country over the last 25 years.
Today, Shoprite Zambia occupies 112 000 m² of trading space and has been procuring from local suppliers since it entered the market, starting with four suppliers and growing that number to the current 150. It employs 7,800 people directly and another 1,550 indirectly (as merchandiser, butchery, cleaning and security staff).

More than 50% of Shoprite Zambia’s employees are women and 80% of jobs are occupied by youths aged 25 to 35 years.

Tetra Pak Introduces Sustainable Solutions In Nigeria’s Dairy Industry

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World’s leading food processing and packaging solutions company Tetra Pak, has donated solar-powered boreholes and stainless-steel milk collection containers to dairy-producing communities in Nigeria.

The support is aimed to enable the dairy farmers to access clean water and transportation of their fresh milk to collection centres.

Tetra Pak’s Managing Director West Africa, Oshiokamele Aruna, highlighted that as the demand for dairy products keeps rising across the world, there was an urgent need to focus on sustainable dairy development especially in Africa, as guided by the UN SDGs.

“Statistics show that with a population now above 200 million, and an annual dairy consumption approaching 1.6 billion litres, only 16 per cent of the milk consumed in Nigeria is produced locally. This means Nigeria spends an average of US$1.5bn a year importing dairy products.

“While several factors are affecting the dairy value chain in Nigeria, Tetra Pak identified the top two challenges surrounding these unpleasant statistics as being the farming communities’ lack of clean water sources for the cattle, and the unhygienic and unsafe transportation of fresh milk from the farms into the commercial milk production value chain,” he said.

The initiative aligns with the government’s goal of increasing milk production from the current 600,000 metric tonnes to 1,700,000 metric tonnes by 2024.

The boreholes being solar-powered means that these communities will have access to clean water 24/7 with no negative impact to the environment.

“Statistics show that with a population now above 200 million, and an annual dairy consumption approaching 1.6 billion litres, only 16 per cent of the milk consumed in Nigeria is produced locally. This means Nigeria spends an average of US$1.5bn a year importing dairy products.”-Tetra Pak Managing Director West Africa – Oshiokamele Aruna

They no longer have to rely on compromised water sources nearby that can spread disease in their communities.

The Dairy Hub model would ensure a consistent supply of milk produced by the communities, eliminate wastage and create a sustainable source of income for the dairy farmers.

Shifting focus to the agriculture sector, Farmforte Limited has signed a strategic Memorandum of Understanding (MOU) with the Agricultural Fresh Produce Growers and Exporters Association of Nigeria (AFGEAN); HYBR, a Pan African Innovation firm; and ALTS, a consulting and strategy development firm.

Framforte Limited is an innovation-driven and impact-oriented company with significant play in the agriculture, manufacturing, retail, and technology sectors.

The quadripartite partnership will strengthen common interest cooperation and stimulate inclusive and sustainable growth within the agricultural sector, by capitalising on the synergy and comparative advantage offered by each organisation.

The partnership combines a depth of experience in innovation, strategy, policy, and value chain development to help design and build solutions that will drive true transformation in the agricultural sector.

DMO Sells N330Bn Worth Of FGN Bonds On The Back Of A Strong FGN Bond Auction Demand

FGN Bonds

The FGN bonds market held its breath in today’s session with yields across the benchmark curve remaining mostly unchanged from the previous day levels as traders anticipated the outcome of the FGN Bond primary market auction.

Consequently, yields compressed by an average of c.1bps across the benchmark curve.

At the bond auction, the DMO shocked the market by overselling bonds by over 2.2x of the amount offered, raising a total of c.333.56bn cash across the three tenors. As expected, the auction was well-bided by market participants which steered the DMO’s appetite to raise adequate cash at a cheaper level. The stop rates closed at 12.74%, 13.50%, and 13.70% for the 2027s, 2035s, and 2050s papers floated at the auction, shedding approximately c.43bps from the previous auction stop rate.

For tomorrow, we expect activities to pick sightly in the secondary market as bargain hunters take advantage of the large auction sale to cherry-pick bonds offered at attractive levels.

Treasury Bills

It was another consecutive session with muted trading activity in treasury bills space, as the cash crunch in the Money Market continues to burden banks’ position. Yields remained steady across the treasury bills curve with little or no demand to match the few offers available during the trading session. The special bills were also offered above the 9.00% band with few trades crossed at 9.20% towards the close of business.

We expect trading activities to remain tepid in the treasury bills space as banks continue to offload their OMO/NT Bills holdings in the quest to raise cash to fund their obligations.

Money Markets

Interest rates trended up by an additional 150bps from yesterday’s closing as naira dealers scrambled to cover their positions amidst tight system liquidity with the market opening in the negative territory of -c80.27Bn. Local banks camped at the CBN Lending and Repo windows to fund their daily operations, forcing OBB and Overnight rates to close 20.00% and 21.00%, respectively.

For Tomorrow, we expect interbank rates to coast around this level with most banks remaining at the SLF window as the current cash crunch is expected to linger in the interim.

FX Market

The FX space opened the day on a sluggish as traders continued to scramble for funds amidst the poorly supplied FX market. Traded volumes increased slightly by 13% from the previous day’s close while the Naira depreciating by N1.50k to close at N411.83/$, The bided range amongst banks remained wide between N400/$ and N430/$.
At the parallel market, the cash and transfer market remained unchanged for another consecutive session.

Eurobonds

Risk cleared in the sub-Saharan Eurobond markets today in reaction to the dovish US fed comments. The ANGOLAs GHANAs and IVYCSTs bonds were the most traded today as prices strengthened by an average of +58cents. The Nigerian sovereigns were not excluded in these price gains albeit it was at a slower pace when compared to the other SSA sovereigns.

The NIGERIA Corps tickers continued to trade on a bullish note, especially on the ETINL 31s paper, which remained the most sought-after bond for investors across the tracked tickers. Price on the ETINL 31s strengthened further by additional 25cents to close at 101.75 on the offer D/D

 

Triggerfish Launches Netflix-Sponsored Pan-African Story Artist Lab

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Triggerfish today announced their call for entries for a pan-African Story Artist Lab sponsored by Netflix.

Shortlisted applicants will have three months of paid skills development with international industry experts. Nathan Stanton, a story artist on Oscar-winning features like Brave, Finding Nemo and Monsters Inc, will lead the training program.

Sponsored by Netflix and produced by Triggerfish, The Story Artist Lab builds on the success of their Mama K’s Team 4 all-female writers lab, which saw nine African women placed in the writing room for the first animated Netflix series from Africa.

“Story artists translate screenplays into animatics, the loose first version of the movie that then shapes every step of animation that follows,” says Tendayi Nyeke, Triggerfish’s Zimbabwean-born development executive. “So having skilled story artists from the continent in control of how their stories are told is a gamechanger, not only in grooming the next African directors but also in giving pre-production artists the opportunity to establish their own voice as they bring African stories to life.”

African citizens with concept art and/or storyboarding portfolios can apply until Friday, 23 July 2021 at https://www.triggerfish.com/storyartistlab/. They must be available full-time for three months from August 2021; remote working is encouraged.

Triggerfish featured prominently at Annecy International Animation Film Festival last week, winning the 2021 Mifa Animation Industry Award for the “pioneering role that the company has played in animation in South Africa, and Africa most widely.”

Recent initiatives to develop the African animation industry include the Triggerfish Story Lab, a pan-African talent search that has already seen two series greenlit for the world stage: Mama K’s Team 4 for Netflix and Kiya for eOne, Disney Junior and Disney+, as well as the free Triggerfish Academy online training course.

About Triggerfish

Triggerfish is a premium content animation studio based in Cape Town and Galway, home to crew with a love for animation and a drive to keep improving.

The 25-year-old studio is currently producing three Africa-set TV series: Mama K’s Team 4 for Netflix; Kiya for eOne, Disney Junior and Disney+; and the anthology Kizazi Moto, for Disney+.

Triggerfish’s first two films, Adventures in Zambezia and Khumba, sold nine million cinema tickets globally. Triggerfish also produced the upcoming feature Seal Team, starring Oscar winner J.K. Simmons and Emmy winner Matthew Rhys; and animated the Academy Award®-nominated Roald Dahl adaptation Revolting Rhymes as well as much-loved Julia Donaldson and Axel Scheffler adaptations such as the 2021 Annie Award winner The Snail and the Whale, 2020 International Emmy-winning Zog, the BAFTA-nominated and Annecy-winning Stick Man, and the Rose d’Or-winning The Highway Rat, all produced by Magic Light Pictures.

Triggerfish also services AAA-rated and mobile games for the likes of Electronic Arts, Unity and Disney Interactive, and is also developing a diverse slate of film and television projects for most of the world’s biggest studios.

Nestlé Unveils Perrier® Water Bottles By Ground-Breaking Recycling Technology

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Nestlé has unveiled prototypes for its Perrier® water bottles based on a novel recycling technology.

The bottles were produced as part of the Carbios global consortium to support the industrialization of an innovative technology that allows the plastic to be endlessly recycled while maintaining properties that are virtually equivalent to virgin plastics. The consortium members include L’Oréal, Suntory Beverage & Food Europe, and PepsiCo.

Using this novel technology, experts at Nestlé’s research and development center for Waters in Vittel, France produced the first Perrier® 50cl prototype bottles made from colored recycled PET materials.

The prototypes were thoroughly tested in terms of safety, quality, and performance. They were also specially adapted to withstand the pressure of carbonated water, while also incorporating the iconic design and green color of the Perrier® bottle.

While recycled PET bottles already exist in the marketplace, this new technology when developed at industrial scale, will help increase the amount of PET plastic that can be recycled.

Jean-Francois Briois, Head of Packaging Material Science and Environmental Sustainability for Nestlé Waters global R&D says, “It is very exciting to see that the quality of the prototype bottles made from 100% colored recycled PET materials is virtually identical to clear virgin PET.

Thanks to this partnership with Carbios, we are able to achieve the great challenge of combining quality, iconic design and sustainability. When we reach industrial scale, this enzymatic recycling technology will enable us to produce high-quality rPET bottles and help Nestlé in its journey to reduce the use of virgin plastics.”

The Carbios technology uses enzymes from naturally occurring microorganisms to break down PET plastic into its constituent parts, which can then be converted back into new, virgin-grade like plastic.

The ground-breaking process is also unique because it enables the production of recycled PET from any type of PET plastic, regardless of color or complexity. This allows the recycling of more types of PET plastic that would otherwise go to waste or be incinerated, thus creating an endless, fully closed loop for plastic recycling.

Nestlé’s R&D expertise and infrastructure was also leveraged to create bottle preforms using the technology for other Carbios consortium members. Each member then further blew up the preforms into specific bottle shapes according to their needs.

The Carbios partnership and resulting innovations are part of Nestlé’s continuous efforts to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of innovative sustainable packaging solutions. Nestlé also recently unveiled two new packaging innovations for its Vittel® natural mineral water bottles which are made with as little recycled plastic as possible.

Food And Agriculture Organization Launches Green Cities Action Programme

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Nairobi and Kisumu Counties are part of the pilot phase of the Food and Agriculture Organization of the United Nations (FAO)’s newly launched Green Cities Regional Action Programme for Africa.

The Programme aims to apply innovative solutions and turn urbanization into an opportunity for cities to become more sustainable, more resilient, provide access to healthy foods and ensure a better life for everyone.

The initiative aims to scale-up fast-action measures for large, medium and small cities to be more resilient, and food and nutrition secure, with pleasant natural environments, and more integrated nutritious food production and distribution systems benefiting residents and farmers alike.

Letters of intent were signed with six African cities: Praia in Cabo Verde, Kisumu and Nairobi in Kenya, Antananarivo in Madagascar, Quelimane in Mozambique and Kigali in Rwanda. The six cities will be embarking on the pilot phase of a programme designed to involve 1 000 cities worldwide by 2030.

“We can redesign our cities,” said FAO Director-General QU Dongyu in keynote remarks at the online launch. He explained: “With affordable healthy and sustainable food, with accessible green spaces, with green lifestyles, and with new jobs which our citizens need.”

He noted that the vast majority of Africa’s cities have fewer than 300 000 inhabitants. “With the right policies and planning, combined with innovative solutions, local administrations and communities can build resilience and improve the wellbeing of urban and peri-urban dwellers,” he said.

“The county government of Kisumu in the past 5 years, and with assistance of development partners has put in place several initiatives towards greening the city as well as resilient food systems. We are therefore pleased to part of this great initiative,” said the Kisumu County Governor Prof.  Anyang Nyong’o.

Salifou Ouederaogo, Minister of Agriculture, Hydro-Agricultural Development and Mechanization for Burkina Faso, hailed FAO’s initiative as timely for his country, where the share of the population living in cities is expected to double by 2050.

FAO’s programme is “a real opportunity to consolidate and scale-up pilot actions that are already underway at the national level and above all to include the Green Cities Initiative action plans to develop toolkits for developing the rural sector in our country,” he said.

Opening remarks at the high-level launch were also given by Maimunah Mohd Sharif, Executive Director of UN-Habitat, and Jean-Pierre Elong Mbassi, Secretary-General of United Cities and Local Governments of Africa (UCLG Africa), an umbrella organization for local governments across the continent.

The mayors of the six pilot cities also spoke at the event, as did senior officers from Senegal’s Ministry of Environment and Sustainable Development, the Global Fund for Cities Development and the Green Climate Fund and FAO Deputy Director-General Maria Helena Semedo.

FAO’s Director-General called upon committed cities and mayors to engage local innovators, entrepreneurs and young people to propose new solutions, digital technologies, climate-smart practices and strategies to create green jobs and enrich the connections between urban settlements and their rural surroundings. He invited authorities to engage youth, especially in places where urbanization is in an early phase and growing fast.

“We need to enable young people so they can define their own future city,” he said.

The vision

Some 55 percent of the world’s population lives in cities today, and that is expected to rise to 68 percent by 2050, with the vast majority living in low-income countries, especially in Africa and Asia. Cities provide powerful economic opportunities but can also be home to high levels of poverty and account for a large share of natural resource use, greenhouse gas emissions and food consumption.

FAO launched the Green Cities Initiative (GCI) in September 2020 at a high-level event during the 75th session of the UN General Assembly, underscoring the major role that urban demographic trends – as well as urban forestry, urban agriculture and urban food systems – are destined to play in achieving the Sustainable Development Goals and the transition to a low-carbon economy. Greener, cleaner and more resilient and regenerative towns can catalyze more self-sustaining opportunities as well as better lives.

The GCI is geared to promote sustainable and resilient local food production and short supply chains, establish green agro-processing hubs, efficient food distribution systems and food environments, and efficient circular-economy driven management of water resources and food waste. Landscape initiatives, parks and cleaner air are also an integral part of the Initiative. Increasing local food production and promoting short food supply chains has taken on new importance in the wake of the COVID-19 pandemic.

FAO is funding the initial phase and eyeing to attract more resources and interest for the full programme. The aim is to push for key innovative “quick win” actions to develop the capacity of local stakeholders in the first cities joining the project to integrate food systems, urban and peri-urban agriculture and forestry in local planning, requiring a holistic approach to governance that in the case of metropolitan areas often span several municipal jurisdictions.

That means fostering enabling environments with risk and vulnerability assessments, and targeted actions depending on a city’s characteristics. One key issue is to identify “functional territories” that underpin food systems and define urban-rural linkages.

FAO will help participating countries use geo-referenced data and other indicators to provide rapid and systematic understanding of potential vulnerabilities to shocks, identify potential biodiversity hotspots and strategic mapping of food retail environments to boost access to nutritious food where it is lacking.

Local administrations will also be helped to promote rooftop and backyard gardens, vertical farms in abandoned structures and high-tech aquaculture, as well as training locals to maximize the value of such opportunities. The Organization will also support Members to set up platforms to engage in city-to-city dialogues and partnerships.

Enyo Announces second edition of its Open Ideas Competition

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…challenges creatives on innovative recycling

As part of its commitment to support the sustainable development goal of combating climate change and enhance creativity among young minds, leading fuel retailing company, Enyo Retail and Supply Limited has announced the second edition of the Enyo Open Ideas Competition (EOIC), an annual competition that aimed at giving Nigerians the opportunity to express their creativity by providing sustainable solutions to the environment.

The 2021 edition themed ‘’Enyo Recyclit’’ is geared at encouraging participants on generating ideas to reuse, recycle and refurbish materials to conceive a service station concept and design that is futuristic.

Enyo

The competition which kickstarts on June 28, will run till October 2021. The winner of EOIC will be rewarded with N1,000,000 while the second runner up and first runner up will receive N500,000 and N250,000 respectively. The top three will also be given implementation support on their proposed designs.

Commenting on EOIC 2021, Chief Executive Officer of Enyo Retail and Supply Limited, Abayomi Awobokun said,

‘‘The EOIC provides a platform for creativity, innovation and problem-solving for young professionals. Climate change and global warming are very pertinent issues to humanity. While we encourage young people in the call to combat the issue, we also need to expose their creative side.

This will also assist in sensitizing the public on alternative ways that materials can be recycled. With the EOIC, we continue to contribute our part to achieve the goal of having a sustainable environment.  We have recorded a good level of success with the maiden edition and are proud to be at the fore of this initiative. We look forward to receiving entries from creative young people’’.

According to the World Bank, the world generates 2.01 billion tonnes of municipal solid waste annually, with at least 33 percent of that extremely conservatively not managed in an environmentally safe manner. Global waste is expected to grow to 3.40 billion tonnes by 2050, more than double population growth over the same period.

With innovations like EOIC, there is an opportunity to manage and recycle waste effectively to enhance growth. Entries received will go through a rigorous review process by renowned judges who will shortlist and announce a winner.  The inaugural edition of the EOIC had more than 350 entries. Interested participants can register on www.EOIC.com

Half the World Owns a Smartphone – Report

According to new research from Strategy Analytics, half the world’s entire population now owns a smartphone in June 2021. Some 4 billion people use a smartphone today. It has taken 27 years to reach this historic milestone.

Yiwen Wu, the Senior Analyst at Strategy Analytics, said,

“We estimate the global smartphone user base has risen dramatically from just 30k people in 1994 to 1.00 billion in 2012, and a record 3.95 billion today in June 2021. With an estimated 7.90 billion people in total on the planet in June 2021, it means 50% of the whole world now owns a smartphone. It has taken 27 years to reach this historic milestone.”

India Smartphone Shipments Soar 26% YoY to 39 Million in Q1 2021
Photo by Rishikesh Patil

Linda Sui, Senior Director at Strategy Analytics, added,

“The world’s first modern smartphone, IBM Simon, was launched commercially in the United States way back in 1994. This was followed by other famous models, such as the Nokia 9110 Communicator in 1998 and Ericsson R380 for Europe in 2000. Apple iPhone popularized the smartphone in 2007, while Google Android democratized the smartphone with an affordable software platform from 2008.”

Neil Mawston, Executive Director at Strategy Analytics, added,

“Half of humanity now owns a smartphone. The smartphone is the most successful computer of all time. Smartphones today are used by 4 billion people worldwide, from urban California to suburban China and rural Africa.

Consumers and workers love the convenience, utility, and safety of having a connected computer in their pocket. Smartphones have become an essential daily tool. We predict 5 billion people will be using smartphones worldwide by 2030.”

New GTBank Training Complex dedicated to memory of Co-founder Tayo Aderinokun

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Ten years after the passing of the co-founder and former Managing Director of Guaranty Trust Bank (GTBank), Mr Tayo Aderinokun MFR, the leading financial institution has opened its new Training Complex in his name. The Complex was commissioned on Thursday, June 24, 2021, and will be known as “Tayo’s Plaza.”

Mr Tayo Aderinokun MFR was one of Africa’s most influential and renowned bankers. Born in 1955, his passion for excellence, entrepreneurial acumen and dedication to service led to his co-founding of Guaranty Trust Bank in 1990. He became the Managing Director of the Bank in August 2002, leading it to the enviable position of one of Nigeria’s best managed financial institutions until his passing on Tuesday, June 14th 2011.

GTBank Training School
GTBank New Training School | Brand Spur Nigeria

Situated in the tranquil city of Abeokuta, Ogun State, Tayo’s Plaza houses an 8 storey training complex that includes 105 ensuite residential rooms, half a dozen lecture halls, two fully equipped libraries, an amphitheatre and a banking hall with 24 teller terminals amongst other facilities.

GTBank

All entrants to Guaranty Trust will now pass through Tayo’s Plaza, where they will undergo an intensive screening and extensive onboarding programme on delivering the best customer experience in financial services.

Commenting on the opening of Tayo’s Plaza, the Managing Director and Chief Executive Officer of Guaranty Trust Bank, Segun Agbaje, said,

“Through our new training complex, we will continue to nurture and empower young people to think critically and break new grounds in excellence.”

Renowned for its forward-thinking approach to financial services and customer engagement, Guaranty Trust Bank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa.

In 2020, the Bank was awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.