Nigeria: Mamuda Group invests $50 million in Ogun State

Nigerian FMCG firm Mamuda Group has announced an investment of $50 million to expand in Ogun state.

According to sources, the investment will happen in several phases. Starting in June, the company will begin work on a new facility for its subsidiary Mamuda Beverages, before investing in the group’s food subsidiary Mamuda Foods, agricultural subsidiary Mamuda Agro & Allied Products and Mamuda Care, its detergents and beauty division.

The investment will reportedly help the group to open up a corridor in Lagos, Ibadan and the southwest region of Nigeria, as well as potential export opportunities to Benin.

In six years’ time, Mamuda Group plans to have 13,000 employees in Ogun state, matching its operations in Kano, where the company is based.

Source: Trend Type