FanMilk PLC, a leading dairy and beverage producer in Ghana, has reported a 23% increase in total volumes for 2024, driven by a revitalised outdoor channel strategy, expanded distribution network, and renewed trade partnerships under its ‘Bring Back the Pride’ ambition.
Managing Director of company, Mr. Lionel Parent, described 2024 as “a transformative year marked by resilience, innovation, and renewed commitment to reconnecting with Ghanaian consumers.”
Speaking at the Facts Behind the Figures session organised by the Ghana Stock Exchange (GSE), he attributed the company’s performance to improved trade fundamentals, stronger product availability, and disciplined cash receivables management.
“At the heart of our growth was Project SANKOFA, which helped restore pride in the FanMilk brand and reignited momentum across our distribution ecosystem,” Mr. Parent said in an exclusive with The High Street Journal.
The company’s revamped Route-to-Market strategy saw the strengthening of high-performing distributors, the recruitment of 50 new agents, and an overhaul of trade terms to reward results. FanMilk’s network now boasts 800 net agents, 21 key distributors, and nearly 7,000 street vendors nationwide.
He further provided an update on the overall performance of the equity market, stating: “As of yesterday, our composite index has gone up to about 29.7%. The market is doing well. And the financial index has gone up by about 34%. All these things impact our market capitalization, which has grown by over 65%. Our different market is also recovering substantially, and we notice that the market is having stronger confidence relative to what happened previously. The Ghana Fixed Income Market has grown by over 50% and it is growing substantially.”
Empowering the Trade Ecosystem
Project SANKOFA’s four key pillars underpinned the brand’s trade resurgence:
• Fan Academy trained over 2,700 vendors in safety, sales, and financial literacy.
• Right to Dream empowered 15 high-performing vendors with full agency setups.
• Project CEO distributed 45,000 trade premiums, including vendor footwear—a historic first.
• Happy Feet promoted cross-regional collaboration, marketing innovation, and vendor health and safety.
“These initiatives not only expanded our reach but also deepened loyalty and capability across our vendor base,” Mr. Parent explained.
Operational Gains and Sustainability Impact
FanMilk made key strides in operational efficiency, eliminating production bottlenecks, improving vendor payment credibility, and resetting leadership at the factory to drive continuous improvement.
In alignment with its sustainability agenda, FanMilk’s 2024 School Caravan initiative run in partnership with the Ghana Education Service reached 90,000 students across 100 schools, promoting healthy snacking and environmental awareness. The programme collected three million ice cream wrappers for recycling and has impacted 390,000 students since 2018.
“Our commitment to sustainability is reflected in how we engage the next generation. We’re not just growing a business; we’re building a legacy,” said Mr. Parent.
People-First Strategy Pays Off
FanMilk also invested in its people, recruiting 30 new full-time employees and launching employee engagement initiatives that led to a 50% improvement in retention, a 64% increase in revenue per employee, and a 17% growth in volume per employee year-on-year.
A record 97% of staff participated in the company’s annual employee satisfaction survey, with marked improvements in inclusion, well-being, and engagement. Strong collaboration with unions helped finalise collective bargaining agreements swiftly.
Outlook for 2025: Cooling Towards Kilimanjaro
As FanMilk celebrates its 65th anniversary in 2025, the company is turning its sights to Project KILIMANJARO, an ambitious cold chain expansion effort to support growing demand in urban and peri-urban markets. Operational priorities include investing in energy-efficient CAPEX projects, including boreholes, and enhancing talent acquisition.
“We are focused on building a high-performance culture, upskilling our people, and retaining top talent,” Mr. Parent stated. “With clear priorities and an inspired team, we’re poised for robust, sustainable growth.”
Deputy Managing Director of the GSE, Mr. Frank Berle, commended FanMilk PLC for its strategic repositioning and broader societal impact.
“Today’s engagement basically exemplifies the values that FanMilk has. And we commend FanMilk PLC for actively fostering this project,” he remarked during the session.
“We have realised that as FanMilk, you cannot remain a corporate company forever vyou can progress. I like the introductory line that you put out there: the role of a company does not end just as a manager. It should impact society as a whole. That is what we expect from our businesses. We do not expect our businesses to live on sharing amongst themselves. It should impact the society we live in. So it is good that you are seeking to grow your corporate people to higher levels. ”
