Norwegian Investment Fund for Developing Countries (Norfund) has invested $10.5 million in Miniplast Ghana Ltd. to support the company’s expansion plans in the manufacturing and recycling sectors.
Miniplast Ghana Ltd is a leading plastics manufacturing company in Ghana and the West African sub-region. Established in 1988, Miniplast specializes in injection and blow molding, with its essential products being industrial packaging solutions.
In 2020, Miniplast established an in-house plastics recycling business segment that uses plastic waste that it sources locally and processes into recycled plastic materials. These recycled plastics are then used by the company in manufacturing its finished products and sold to third parties. Headquartered in Accra, Miniplast has a current production capacity of 41 tons of plastic per day.
Norfund’s investment will go towards purchasing new manufacturing equipment and supporting Miniplast to expand into new product offerings. Also, the investment will finance new machinery to increase the company’s recycling capacity to 1,700 tonnes a month, further substituting locally sourced recycled materials for imported plastic resins and reducing production costs.
