Fafa Foods SC has become the first company to produce full cream milk powder in Ethiopia.
The company has introduced ten new products including, flour, instant yeast, soya milk corn flakes and a range of snacks since it was turned over to new management.
Fafa is working to meet local demand through import substitution with locally prepared alternatives costing an average of 40% less than the imported varites said Dr. Berhanu Mosissa, Director of Sales and Marketing with the company.The company is committed to offering foods for a balance diet at fair prices while at the same time saving hard currency expenditure on imports according to Dr. Berhanu.
It is expected that the company’s sales turnover will increase to an estimated 200 million birr this financial due to the launch of the new products according to Fafa management.
The increase in revenue is also expected to raise the company’s profit from 15 million birr in the last financial year to 20 this year.
Fafa is also planning to export its products to the Kenyan, Congolese and Sudanese markets it was learned.
Established in 1962 to address the problem of malnutrition Fafa was bought by Petram Private Limited Company for 67 million birr four years.
Petram has been engaged in import and distribution of goods as well as recently entering into the manufacturing sector.