Business news from Ukraine

BOLT RAISES EUR 20 MLN OF INVESTMENT TO DEVELOP SERVICES IN EASTERN EUROPE (INCLUDING UKRAINE) AND AFRICA

Bolt, a ride-hailing service, has raised EUR 20 million of investment from the International Finance Corporation (IFC), a member of the World Bank Group, to increase access to mobility services in Eastern Europe (including Ukraine) and Africa (Nigeria and South Africa), the press service of the company reported on Thursday.
“Technology can and should unlock new pathways for sustainable development… Our investment in Bolt aims to help tap in to technology to disrupt the transport sector in a way that is good for the environment… and provides safer and more affordable transportation access in emerging markets,” IFC Chief Operating Officer Stephanie von Friedeburg said in a statement.
“We are looking forward to partnering with IFC to further support entrepreneurship… and increase access to affordable mobility services in Africa and Eastern Europe. Together with the investment from the European Investment Bank last year, we are proud to have sizeable and strategically important institutions backing us and recognising the strategic value Bolt is providing to emerging economies,” Bolt CEO Markus Villig said.
In Ukraine, Bolt ride-hailing service was launched in summer 2018.

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UKRAINIAN KSG AGRO RAISES EXPORT OF AGRICULTURAL PRODUCTS TO ASIA AND AFRICA

KSG Agro agricultural holding in 2020 increased export of agricultural products to African and Asian markets by 46%, to 7,770 tonnes, the holding’s press service has said.
“Last year, we expanded our presence in export African and Asian markets. In the context of the quarantine crisis, the issue of diversifying supplies and expanding the range of products supplied is especially acute,” Serhiy Kasyanov, the head of the board of directors of KSG Agro, said.
According to the agricultural holding, in 2020, the export of wheat flour to Libya increased by 3.6 times compared to 2019, to 3,000 tonnes.
It is clarified that KSG Agro exported 172 tonnes of sugar to Libya, 4,000 tonnes of corn to Malaysia, 600 tonnes of barley to Oman.
KSG Agro is a vertically integrated holding. It is engaged in pig breeding, production, storage, processing and sale of grain and oilseeds.
For the nine months of 2020, the agricultural holding received $ 4.77 million in net profit, which is 52% less than in the same period in 2019, revenue decreased by 17%, to $ 14.67 million.

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UKRAINE CONSIDERS SOUTH AFRICA AS ONE OF MOST IMPORTANT TRADING PARTNERS IN AFRICA

Deputy Head of the President’s Office of Ukraine Ihor Zhovkva and South Africa Ambassador Andre Johannes Groenewald discussed the further development of the bilateral cooperation.
“The parties identified the priority steps to intensify the political dialogue between the two countries and discussed the further schedule of high-level contacts, taking into account the development of the epidemiological situation in the world,” the press service of the President’s Office said.
During the meeting, Zhovkva spoke about the importance of further deepening economic cooperation and noted that Ukraine considers South Africa as one of the most promising trade partners in Africa.
The importance of closer and more constructive interaction between Ukraine and South Africa under its non-permanent membership in the UN Security Council was also emphasized.
“During the meeting, a number of other issues of a bilateral nature were also discussed, including the interaction of the two countries in the fight against the [coronavirus] COVID-19 pandemic and the modalities of the early evacuation of Ukrainian citizens from South Africa,” the presidential press service said.
Zhovkva congratulated the South African Ambassador on Nelson Mandela International Day, which is annually celebrated on the birthday of the politician.

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UKRAINIAN USPA FRUIT AND USAID LAUNCHES PROGRAM FRUIT EXPANSION TO AFRICA AND MIDDLE EAST

First Ukrainian Apples Producers aggregation platform (USPA FRUIT) jointly with USAID Competitive Economy Program in Ukraine start a joint initiative entitled “the Fruits Expansion to the Countries of the Middle East and Africa,” under which Ukrainian fresh fruit producers will receive help to enter new markets. According to a press release of the USPA FRUIT platform, under the initiative trade and economic missions for companies-members of the platform to the Middle East and Africa will be organized. Ukrainian producers will also have access to market analytics, which in the future will help them conclude deals for the supply of fresh fruits (apples, cherries, blueberries), increase export sales and create new jobs.
“Establishing stable supplies will be preceded by a detailed study of the Middle East and Africa markets, which will help USPA FRUIT identify priority exports, develop and implement pricing and marketing policies for each country in the region, which in turn will create competitive entry and consolidation in these markets. Within the project, USPA FRUIT aggregation platform organizes trade and economic missions to Egypt, Qatar and the Kingdom of Saudi Arabia, what will help to establish program supplies of fresh fruits from Ukraine,” USPA FRUIT said.
Fresh fruits from the USPA FRUIT aggregation platform have been presented in the UAE market for three years already, but there are still many opportunities for development within the markets of the Middle East and Africa.

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USPA FRUIT FROM UKRAINE TO EXPAND WITHIN MIDDLE EAST AND AFRICA

Fresh fruits from the USPA FRUIT aggregation platform have been presented in the UAE market for three years already, but there are still many opportunities for development within the markets of the Middle East and Africa, the use of which will further strengthen the position of Ukrainian suppliers in the regions, diversify sales, increase competitiveness and profitability of exports of the platform ‘s member companies.

USPA FRUIT, together with the USAID Competitive Economy Program in Ukraine are launching a joint initiative «Fruits’ Expansion to the Countries of the Middle East and Africa,» within the framework of which to study markets perfectly, work to develop the export potential of platform’s members companies and organize trade missions. This will help to establish stable supplies of Ukrainian fruits to the markets of the Middle East and Africa, as well as to diversify supplies.
Establishing stable supplies will be preceded by a detailed study of the Middle East and Africa markets, which will help USPA FRUIT identify priority exports, develop and implement pricing and marketing policies for each country in the region, which in turn will create competitive entry and consolidation in these markets.
Within the project, USPA FRUIT aggregation platform organizes trade and economic missions to Egypt, Qatar and the Kingdom of Saudi Arabia, what will help to establish program supplies of fresh fruits from Ukraine.
For Ukrainian producers-members of the aggregation platform, it is an opportunity to enter new markets, increase export sales volumes and create new jobs.

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AFRICA TO BE IN LIMELIGHT OF RENEWED COUNCIL OF EXPORTERS AND INVESTORS UNDER FA MINISTRY OF UKRAINE

Africa will be in the limelight of the renewed Council of Exporters and Investors under the Foreign Affairs Ministry of Ukraine, said Foreign Minister Dmytro Kuleba adding that development of cooperation with the African states was one of the priorities of the foreign policy of Ukraine. “Only few days ago, we launched the Council of Exporters and Investors at the Ministry of Foreign Affairs. It now unites 120 leading Ukrainian export-oriented companies. The purpose of this agency is to simplify trade and investment between nations, and Africa will be in the limelight of this Council,” he said in a video address on the occasion of Africa Day posted on ministry’s Twitter on Monday.
Kuleba said that Ukrainian companies were already exporting grain, drinks, meat, equipment and machinery to the African countries. “The IT sector is one of the most promising in our relations,” the minister added.
He emphasized that one of the priorities of Ukraine’s foreign policy was the development of cooperation with the African states.
“Good relations between us symbolize the great prospects of our cooperation and will lead our nations to prosperity and a better life,” he explained.
According to Kuleba, now 20,000 students from Africa are studying in Ukraine, and Ukraine will be glad to see more of them.
“I’m glad that more and more Africans are choosing Ukraine for higher education. Currently, 20,000 students from the African countries are studying in our country, and we welcome more,” said the foreign minister.

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