The Fair Factory Development Fund is to invest in coconut processing in Ghana. This new investment was recently approved by the fund's Investment Committee.
It involves an investment in Melach Coconut Oil in Ghana. This company was founded by Michael Anan. The company's vision and approach when it comes to sustainable development and food security are perfectly in line with the values of the Fair Factory Development Fund.
Oil and residues
Melach processes coconuts, using the whole nut. The main product is oil, which is obtained by pressing the white pulp. The residual streams are used for ingredients for soap (potash), activated charcoal, fuel and chicken feed.
Capital from the fund will be used to invest in a new factory, machinery to increase production capacity and setting up a demo farm for farmers, among other things.
Founder and owner Micheal Annan learned about the coconut oil industry in Thailand. Back in Ghana, he was surprised that so little was being done with the coconuts in Ghana. Many coconuts fall off the tree after which they rot away. He used the knowledge he gained to build up Melach. Ghana has good coconut potential. In addition, there is sufficient staff available to process coconuts into (mainly) oil.