FanMilk Posts 23% Growth in 2024, Targets Cold Chain Expansion and Sustainability Milestones

FanMilk PLC, one of Ghana’s iconic dairy and beverage producers, has recorded a 23% increase in volume for the year 2024, attributed to a refreshed market strategy, aggressive trade empowerment initiatives, and a focus on sustainability and talent development.

Speaking during the Ghana Stock Exchange’s (GSE) “Facts Behind the Figures” session, FanMilk Managing Director Lionel Parent described the year as a “transformative one defined by resilience, renewed consumer connection, and operational discipline.” He emphasized that the revival was driven by Project SANKOFA, a multi-pronged initiative that revitalized FanMilk’s market presence.

“Our efforts to rekindle pride in the FanMilk brand while strengthening vendor support and distribution fundamentals have been at the center of this year’s success,” Mr. Parent stated.

The company’s revamped Route-to-Market model saw significant distributor reinforcement, onboarding of 50 new agents, and revised trade incentives that yielded measurable commercial success. Today, FanMilk’s national footprint includes 800 active agents, 21 key distributors, and almost 7,000 street vendors.

Trade Empowerment and Inclusive Growth

Under Project SANKOFA, FanMilk introduced multiple grassroots initiatives:

• Over 2,700 vendors trained in hygiene, sales, and finance through the Fan Academy.

• “Right to Dream” initiative provided full business setups for 15 top-performing vendors.

• 45,000 trade premiums—such as vendor footwear—distributed under “Project CEO.”

• “Happy Feet” programme encouraged innovation and health safety among vendors.

“These interventions not only grew our reach, but also inspired loyalty and professionalism across our vendor network,” Mr. Parent told The High Street Journal.

Boosting Efficiency and Community Engagement

Operational improvements also played a critical role. FanMilk eliminated production bottlenecks, enhanced receivables recovery, and revamped its factory leadership team for continuous improvement.

On the sustainability front, the 2024 School Caravan, run in collaboration with the Ghana Education Service, reached 90,000 pupils across 100 schools. Students were engaged on healthy snacking habits and recycling. Since its inception, the programme has reached 390,000 students and collected over three million wrappers for recycling.

“We’re not just about profit—we are committed to leaving a legacy through education and sustainability,” Mr. Parent noted.

Investing in People and Workplace Culture

FanMilk hired 30 new full-time staff and introduced employee well-being initiatives that improved staff retention by 50%, revenue per employee by 64%, and volume per employee by 17%. Ninety-seven percent of staff participated in the company’s annual satisfaction survey, with strong results on inclusion and engagement. Collective bargaining agreements were also finalized with union leaders.

Looking Ahead to 2025 and Beyond

As FanMilk marks its 65th anniversary in 2025, its new strategic focus—dubbed Project KILIMANJARO—will center on expanding its cold chain capabilities to meet rising urban and peri-urban demand. This includes investments in energy-efficient infrastructure, such as boreholes, and a sharpened focus on talent retention and skills development.

“Our goal is to build a high-performing, sustainable business driven by purpose and people,” Mr. Parent added.

GSE Applauds FanMilk’s Leadership

Commenting during the session, Deputy Managing Director of the GSE, Mr. Frank Berle, commended FanMilk’s broader commitment beyond profits.

“FanMilk exemplifies what we expect from modern businesses—impacting not just shareholders, but the wider society. You’ve moved beyond being just a corporate entity,” he said.

Mr. Berle also shared positive market updates, revealing that the GSE Composite Index had risen by 29.7% and the financial index by 34%, contributing to a market capitalization growth of over 65%. “Investor confidence is returning, and we commend companies like FanMilk for their role in this resurgence.”

FanMilk PLC, a Danone subsidiary, remains a mainstay of Ghanaian households and continues to be a benchmark for inclusive growth, innovation, and community-driven business.