Fan Milk International

Ghana Food and agriculture

The Fan Milk Group operates in seven West African countries. For more than 50 years, the group has produced and sold affordable frozen dairy and juice products directly to consumers through a unique street vending system. The Group has created thousands of jobs and today employs 1,700 people and engages with 25,000 agents and vendors

We are invested in Fan Milk International through Aureos Africa Fund, which is managed by Aureos Capital. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

Africa, West Africa

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

Food and agriculture
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Aureos Africa Fund
Fund Manager:
Aureos Capital
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

November 2013

This is the investee company’s place of incorporation; or a fund’s jurisdiction.