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Duet Group and its partners invest US$50 million into two high-growth consumer companies in Ghana
Duet Group is pleased to announce that through the creation of Duet Consumer West Africa Holdings (DCWA), it has invested US$50m of growth capital into Ghana, taking controlling stakes into Shop N Save, a supermarket joint-venture with the founders of the Finatrade Group, and GNFoods, a fast-growing food manufacturing company.
The growth capital invested into these two companies will be used to roll-out new food retail stores, expand manufacturing capacity and invest in sales and marketing capabilities.
Duet believes both the food retail and food manufacturing sectors in West Africa are well positioned for rapid growth. The food retail sector across West Africa remains one of the most under-penetrated in the world, with less than 5% of food consumed being sold through organised retail channels, and Duet believes the partnership with the founders of one of West Africa s largest food