Injaro invests in Novafrique Industries SA, a soap manufacturer in Ivory Coast
October 26, 2018
Abidjan, Côte d'Ivoire: Injaro is pleased to announce an investment in Novafrique Industries SA, an Ivorian company specializing in the manufacturing of household solid soaps.
Novafrique is a company which produces a variety of household soap bars using their integrated crude palm oil and palm kernel oil production facility. Injaro’s growth capital investment should optimize the 30,000MT installed capacity utilization to improve profitability.
Ernest Dally Zabo, the CEO of Novafrique has said: “We are delighted to partner with Injaro for their on the ground presence and solid knowledge of needs of the agricultural value chain. This partnership is a validation of our business model and the investment shall resolve the production bottlenecks that prevented us to grow fast to scale and serve our growing customers’ demand.”
Novafrique’s soap products are priced affordably to cater to both low and middle income markets which allows customers to purchase a staple product that satisfies basic health and hygiene needs. To easily access their target market, they have developed a network of basic goods wholesalers. This business model has allowed them to successfully expand across three other West African countries such as Mali, Senegal and Niger.
Jerry Parkes, the CEO of Injaro Investment has said “Novafrique's integrated business model positions it well to deliver economic benefits to the local community in a financially sustainable manner. We look forward to a fruitful relationship with Novafrique and to helping them reach their full potential.”