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Danone pours funds into Ghana dairy venture

The French food giant is injecting $25 million into a Ghanaian dairy business it acquired with The Abraaj Group in 2013.

The capital will go to expanding the production capacity of the Fan Milk factory in Accra, adding 200 local jobs in the process. Danone says in a company statement that it is committed to local manufacturing and combatting youth unemployment in the region.

It is also developing new high-nutrient products for the West African market, including an affordable drinkable yogurt that will be launched from the new factory. West Africa represents a €1.4 billion ($1.57 billion) market for Danone.

Dubai-based Abraaj has invested in numerous food and dairy companies across the African continent. Fan Milk, a 55-year-old company, sells its dairy products in seven other West African countries in addition to Ghana.

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