The investment will allow Fan Milk to sustain growing demand for dairy products in West Africa.
Danone has announced investment worth $25 million in its subsidiary in Ghana, adding three new production lines to its factory in the capital Accra.
The investment will allow Fan Milk to sustain growing demand for dairy products in West Africa. It is being made together with The Abraaj Group – the Dubai-based private equity investor that has owned a 51% stake in Fan Milk since the two companies’ joint buyout in 2013.
The factory expansion will be used to support the rollout of FanMaxx, a new creamy drinkable yogurt that will be available to Ghanaian consumers in June. The yogurt is a source of calcium and enriched with vitamins, with a creamy texture that makes it filling enough to be a light meal replacer. It can be consumed chilled or ambient and has a long-shelf life of four months.
The investment is proof of its commitment to local manufacturing and to continue growing the Fan Milk brand in the region for the long-term. It will create around 200 qualified jobs for the local economy.