Nurevas is a manufacturer and marketer of high-quality processed foods. Despite a large and growing retail and food services market in Ghana, less than 15% of demand is met by local processing capacity. There has been insufficient investment in local food production and this has given rise to the growth of distributors who import large volumes of processed foods into Ghana. Nurevas seeks to position itself as the leading West African manufacturer of high-quality sauces, spreads and condiments.
AgDevCo’s $4.0m investment is providing Nurevas with the capital required to deliver on co-packing agreements with international and local brands and to grow sales of its own-brand products into the Ghanaian and West African market. The funds will be used to add a packaging line and fund marketing expenditure.