Business

Olam Agri set to transform Ghana’s pasta industry with new production facility

Published

4 months ago

August 30, 2024

Olam Agri set to transform Ghana’s pasta industry with new production facility

Olam Agri, a global leader in food and agriculture, is set to transform the pasta market in Ghana with the construction of a new state-of-the-art pasta production facility and the expansion of its wheat flour production capacity. The facility is planned in two phases, and when completed will have the volume capacity potential to meet the entire demand for pasta in Ghana. As the one and only pasta production facility in Ghana, it will bring the products closer to the Ghanaian consumer. Premium wheat will be sourced and milled for pasta production directly by Olam Agri for better quality control.

Baibhav Biswas, Country Head of Olam Agri in Ghana, said: “With this facility, we will be able to bring high quality, highly nutritious, and affordable pasta products closer to our Ghanaian consumers than ever before. This speaks of our commitment to Ghana and our efforts to contribute positively to the economic development and food security in the country thanks to greater stability in the supply and affordability of pasta. We hope that this raises the bar for the entire industry. It is an exciting chapter for Ghana’s food landscape, and the future of pasta looks bright and delicious.”

Olam Agri has a 30-year track record in Ghana as a major provider of food and agriculture products. Over the years, the company has invested in high-quality infrastructure and competent human resources to ensure the production of quality products that meet local demands and international standards.

Growth of Olam Agri in wheat and pasta in Africa

Olam Agri has established a strong and trusted wheat milling and pasta production business in Africa over the past 14 years. It produces wheat flour in Ghana, as well as in Nigeria, Senegal and Cameroon with domestic distribution in all of these markets and exports to Benin, Togo, Burkina Faso Chad, Central African Republic, Mali and Guinea. The company currently produces pasta in Nigeria for domestic retail consumption under a strong stable of consumer brands such as ‘Mama Gold’, ‘Crown Premium’, ‘First Choice’ and ‘Bijou’.

Olam Agri’s Global Managing Director for Processing & Value Add, Saurabh Mehra said: “Olam Agri is known for its capabilities in global sourcing and origination, processing and manufacturing as well as end-distribution of wheat flour and pasta. Our expertise in wheat milling operations, consumer insights and on-the-ground network has allowed us to foster long-term relationships with consumer and business customers. This expansion in Ghana comes amidst growing demand in the country and broader region for high quality food products. It is underpinned by a number of long-term fundamentals including demographic change, increasing urbanisation, and the development of the food sector, including the downstream sectors. We are committed to building our processing footprint in Ghana.”

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

14 hours ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

21 hours ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

2 days ago

December 20, 2024

Sahara Weekly

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.

The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.

“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.

The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.

Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.

The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.

This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.