Tech

SA’s asset management firm Rohatyn Group sells beverage firm to Indian company

Published

8 months ago

April 13, 2024

South Africa-based asset management company, Rohatyn Group, has announced the sale of its beverage manufacturing and distribution firm, Beverage Company Proprietary Limited (BevCo), to India-based Varun Beverages Ltd (VBL), the makers of popular fizzy drink, PepsiCo.

BevCo, which was established in 2018 through the acquisition and merger of Little Green Beverages and SoftBev, has consolidated its position as the largest independently owned beverage producer and distributor in South Africa.

BevCo, with a wide portfolio of its own brands and energy drinks as well as franchise rights from PepsiCo in South Africa, Lesotho, and Eswatini, and distribution rights for Namibia and Botswana,
operates five manufacturing facilities across South Africa with an installed capacity of 3,600 bottles per minute.

BevCo CEO, Peter Spies, who announced the deal, said in a statement:

“Management and shareholders had a clear long-term aspiration for the business and remained focused on accelerating the execution of new revenue streams and building scale, while retaining alignment with key stakeholders.

“The sale of BevCo to Varun Beverages has proven that scaled South African businesses have the potential to attract global trade players to the continent.”

Also reacting to the deal, Glynn Potgieter, Managing Director at TRG, and board member of BevCo, said:

“The macro conditions in our markets continue to pose challenges to sale processes.

“We believe successful realization strategies require years of strategic planning and building businesses that have unique, identifiable, and realizable value to a known universe of acquirers.

“We are convinced that successful exit processes in these challenging markets require skilled negotiation, resilience, tenacity, and, above all, a collaborative mindset.

“Since 2018, the number of total employees at the company has increased nearly four times, and the company reached gross sales of approximately 63 million cases per year.

“The product offering also expanded, adding the manufacturing and distribution of PepsiCo brands in the region.

“The company has achieved growth through innovation in its products and services, regional expansion, and a focus on sustainable business practices.”

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Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

11 hours ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation

Tech

Moroccan retail-tech startup Z raises $1.5m to drive intense growth

Published

4 days ago

December 15, 2024

Isaac Dachen

Morocco-based B2B retail-tech marketplace, ZSystems, has announced closing a $1.5 million seed funding round which will see it carry out its ambitious expansion dreams.

In a statement by co-founder and CEO, Meriem Benabad, the funding round was led by Morocco-based Venture Capital firms, MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures.

“This funding marks a pivotal moment for Z, as we aim to scale operations and bring cutting-edge solutions to traditional retail.

“Our vision is to empower small businesses and unlock growth across Morocco and Africa,” Benabad said.

According to Benabad, the newly acquired capital will support Z’s technology development, product catalogue expansion, and preparation for its next growth phase.

“Z is reshaping the retail landscape by integrating technology and innovation across the value chain. Its scalable platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market,” he added.

Founded in 2022 by the trio of Benabad, Samer Choumar and Youssef Ait-Haddouch, Z’s platform empowers traditional retailers and brands with direct access to consumers, reviving competitiveness in traditional trade (hanouts), which accounts for 85% of the FMCG market.

Since launch, the startup has helped over 15,000 active retailers, and seen more than 800,000 orders placed.