After taking the domestic biscuit market by storm, Olam’s Nutrifoods Biscuit Company is headed for the gaping West African export market following the completion of major expansion works and launch of its factory in Tema last week Friday.
Jointly owned by Olam International (75%) and Sanyo Foods of Japan (25%), the Nutrifoods facility is currently the leading biscuit factory in Ghana. It produces an assorted brand portfolio which includes two of the most popular biscuits in the country – the King Cracker and the Perk Shortcake.
The company invested US$8.25 million in expansion work, upgrading the capacity of the facility with new state-of-the-art production equipment and technology including an additional third production line.
The expansion has strengthened Nutrifoods’ position as the number one biscuit producer in Ghana. Commanding a 30% share of the Ghanaian market and an unbeatable benchmark in quality, the company produces international standard products for local market tastes.
Notably, the expansion has increased employment opportunities offered by the company, providing an additional 150 jobs and raising the existing workforce to 600 employees, of which 99% are Ghanaians.
The completion of the expansion project is hailed by stakeholders as a major milestone not only for Nutrifoods but also for the entire food manufacturing sector in Ghana. An inauguration ceremony held at the factory was attended by the Minister of State for Trade and Industry of Singapore, Dr. Koh Poh Koon and Ghana’s Minister for Trade and Industry, Mr. Alan K. Kyerematen.
At the event, Dr. Koh congratulated Olam on the inauguration of their new factory and expressed hope that more Singapore companies can participate actively in Ghana’s growth. He also noted that Singapore companies are not just investing in the physical infrastructure but also in building human resource capabilities for Ghana’s future, with companies such as Olam sponsoring educational programmes in Ghana.
Minister of Trade and Industry, Mr. Alan Kyerematen, was full of praise for Singapore and Olam throughout the inaugural ceremony, urging Ghanaian entrepreneurs to take a cue from the Asian economic giant’s success story by starting off in their own small ways, with expansion and growth as the ultimate objective.
He said the private sector would always play a crucial role in the country’s developmental agenda and assured Olam that government would support its biscuit company to achieve the dream of penetrating the West African export market by creating the enabling environment for all private businesses to thrive.
“There are a lot of opportunities out there for Ghanaian companies, especially with the African market now about to become globalized. Looking back about ten years ago, you realised that the local biscuit market had been seized by all sorts of foreign imported products.
“But the fact that today our shelves are full of quality made-in-Ghana biscuits is proof that Ghanaians did not necessarily crave for foreign products; we simply look out for quality and I think Olam’s Nutrifoods company has made the mark, ” he said.
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