Fan Milk Ghana reports massive decline in full year profit dropping by 97% due to COVID-19 pandemic

GHANA – Fan Milk Ghana, subsidiary of multinational food-products corporation Danone has reported a 12% decline in full year revenue to GH¢373.58 million (US$64.9m), despite improved demand for the company’s products in the final quarter of the year as consumer confidence recover. The decline in turn-over is attributed to the unfavourable performance in the earlier part of the year as a result of the coronavirus pandemic, which significantly limited the movement of company’s sales representative who use bicycles to penetrate communities and local markets. Fortunately, the management kept a tight…

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Fan Milk Plc to establish dairy farm and training institute in Nigeria as part of backward integration program

NIGERIA – Fan Milk Plc, Nigerian subsidiary of multinational food-products corporation Danone, has inked a partnership agreement with the government of Ogun state to undertake a backward integration project to enhance local dairy production. The signing ceremony was undertaken on 28th January 2020, with the attendance of the French Ambasador to Nigeria His Excelency Mr Jerome Pasquier, the Regional Economic Counsellor Pascal Furth the Regional Agricultural Counsellor Sonia Darracq Managing Director Fan Milk Plc Ferdinand MOUKO, Plant Director Fan Milk Plc Olasunkanmi Olumuyi The initiative is in line with the…

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Danone’s Nigerian operating unit Fan Milk initiates backward integration program to boost dairy industry

NIGERIA – Fan Milk Plc, Nigerian subsidiary of multinational food-products corporation Danone, has partnered with the government of Ogun state to undertake a backward integration project to enhance local dairy production. The initiative is in line with the Central Bank of Nigeria (CBN) policy to discourage the importation of dairy products like milk, yogurt, cheese and other milk derivatives of which the country spends about US$1.5 billion annually. Under the project Fan Milk intends to develop a world-class dairy farm and technical institute at the Odeda Farm Institute, bringing the…

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