BUA Foods, one of Africa’s leading FMCG companies has taken delivery of the first of two
shipping vessels to augment its sugar export operations to the West African market, which
kicked off successfully earlier this year. BUA Food’s export of refined sugar will benefit the
economy, providing alternative source of income, while significantly diversifying the
company’s markets.
The vessels will depart and berth at BUA’s port and terminal increasing export capacity
while reducing operating cost. The Mitsubishi of Japan built vessel is named MV Bundu –
after the area in which the refinery is located. The vessels cargo capacity is suited to
enhance quick and sustainable delivery of more refined sugar in the face of growing
export demand from across the African region.
The refined sugar of high-grade quality is processed from BUA Foods’ ultra-modern
sugar refinery located in Port Harcourt. This state-of-the-art refinery with a capacity of
750,000 metric tons, is also equipped to process all grades of sugar.
“As we drive our business for growth with focus on sustainable returns, and benefit to all
our stakeholders and the Nigerian economy, owning a shipping vessel is an important
step in BUA Foods strategy” said the Chairman BUA Foods Plc, Abdul Samad Rabiu. “We
see an increased and continued demand for refined sugar across the region with
attendant increase for logistics support to aid timely delivery, which is why it is
important for us to strengthen our current capability with an own-controlled asset as we
advance further in our business strategy. These new vessels will create operational
efficiencies in our business and open possibilities for new services.”
With this acquisitions, BUA Foods is well positioned to take advantage of the AfCFTA,
considering its investments in the food sector over the years.
“Owning a vessel to export sugar is a crucial enabler of flexibility and agility in our total
supply chain as it allows our customers to tackle time-critical fulfillment challenges due
to timely availability of their goods,” said MD BUA Foods Engr. Ayodele Abioye. “As we
expand our customer base into the region, we strongly believe in working closely with
them towards meeting and surpassing their needs in time and in full”.
To further strengthen its export drive, a second shipping vessel is expected to arrive by
the end of the second quarter of 2022 to promote cross border trade to businesses
across the West African region and other African countries.
