In Ghana, oil processing can be profitable but to be successful, the business must produce good quality products and remain innovative to compete in the market. Proper management of finances, including the loan, income, and profit (or loss), is also crucial.
Where was Kumasi oil mill initially set up?
Initially, the Kumasi oil mill was set up in an old government shoe factory that was leased out when the government Industrial Holding Companies went bankrupt.
Why is decentralised oil production important in Zimbabwe?
In Zimbabwe, the importance of decentralized oil production lies in the fact that the oilseeds are grown in the rural areas, and there is a market for the oil in those areas. However, the oil market was previously dominated by four major producers based in urban areas, who were failing to supply the rural communities.
How to plan a cooking oil business?
When planning a cooking oil business, one of the first activities is to decide on the target customers. A market segment is a term that describes an identifiable group of customers. The different types of market segments for cooking oils can be described in five main groups (Table 2.1): food businesses. (Table 2.1)