Standard Bank sees sugar output growth in Africa
IOL Business - Sep 12th 2011, 09:38
South Africa's Standard Bank expects sugar production in Africa to grow, supported by increased demand and firmer prices, its head of investment banking said.
Africa's top bank by assets said it was experiencing an increased appetite for investment in sugar production and processing.
“Globally there is a top-of-mind focus on mineral resources, oil and gas as the most attractive investment opportunities. But in agriculture and sectors such as sugar, Africa has innovative and attractive investment opportunities,” Helmut Engelbrecht, the head of investment banking for Africa, said in a statement.
Engelbrecht said the growing international and local consumer demand for the commodity continued to make the sugar industry a strong investment case.
“We expect a good pipeline of funding deals in regions such as East Africa and especially in countries like Kenya, where we are seeing opportunities beginning to pick up steam,” he said.
Also boosting growth prospects was the European Union's preferential pricing policy for emerging sugar producers, such as Swaziland and Mozambique, said Engelbrecht.
The EU unveiled a new trade regime in 2009 that allowed the world's poorest countries quota and tariff-free access into the market.
ICE front-month sugar futures stood at 28.96 cents a lb, up 0.80 percent as of 0850 GMT.
Standard Bank has in the past financed expansion projects for companies such as South Africa's Illovo Sugar and Nigeria's Golden Sugar Company. - Reuters
Shares in Five Roses owner plummet after dismal trading update
28/01/2019 - 08:56
Fast moving consumer goods group AVI warned shareholders that its interim sales were flat and its headline earnings would decline by up to 7%.
What FMCG companies can learn from the online trading industry
18/12/2018 - 08:09
Fast-Moving Consumer Goods (FMCG) are, by their very nature, products that are designed to be sold quickly at a relatively low cost. Unlike luxury items that often need to sit on the shelf for an extended period of time in order to build up some exclusivity, FMCG products need to be sold as quickly as they’re advertised. With speed being the key ingredient in the FMCG industry, any weak links in the chain can harm a manufacturer's bottom-line.
Listeriosis outbreak haunts Tiger Brands
23/11/2018 - 10:06
The Listeriosis outbreak in South Africa came back to haunt Tiger Brands, with the group reporting a 26 percent decline in headline earnings per share (Heps) to 1 587 cents a share during the year to end September, while revenue fell 9 percent to R15.87.
Black Friday spikes turnover for SMEs
22/11/2018 - 10:50
Even though it is tempting to relegate Black Friday as just another marketing gimmick, the reality is that it signifies the start of a month-long consumer spending frenzy that significantly boosts retail revenues.
#WomensMonth: How do women fare in the South African retail market?
15/08/2018 - 09:06
While we focus on women in South Africa during the month of August and honour our constitution for declaring the 9th of August a public holiday; retailers continue to look closely at the overall economic status of women. How liquid is the average women consumer? What does she buy? Does she have the buying power in a household and what does that household look like?