Business News of Mon, 10 Aug 20150
Two sign agreement for research into dairy production
The Kwame Nkrumah University of Science and Technology (KNUST) has entered into a partnership with Peak Investment Capital (PIC), a social enterprise investment fund, to support research into the dairy production capabilities at the university’s Dairy Research Station.
In line with that, the two institutions have signed an agreement under which GH¢650,000 will be made available to leverage the KNUST’s technical expertise to continuously innovate and develop a sustainable dairy ecosystem.
To be executed at the KNUST’s Dairy Research Station, the project would be undertaken in two phases.
The first phase is to expand the capacity of the facility at the university which produces yoghurt products in the Ashanti Region, revamp the staff base, focus on rebranding and marketing and introduce mobile units to increase sales, while the second phase will focus mainly on automated service.
Under the agreement, the PIC is expected to rope in some global brands to make the KNUST products a strong force on the international market. They include Elsa of Switzerland, Grana Rola, an Agro-based company of Italy; Dolda of India and Ausnuaria from China.
Speaking at the signing ceremony, the Vice Chancellor of the KNUST, Prof. William Otoo-Ellis, said as a science and technology university, one of it’s objectives was to create a strong link between industry and academia.
“We hope that through this partnership we can bring new impetus to the dairy sector in the Ashanti Region and also create more economic opportunities for the region and the country,” he said.
The Head of Government Relations of the PIC, Mr Donald Djanie, emphasised the company’s determination to create value by leveraging the existing technical capabilities of KNUST.
The Peak Foundation, the education development arm of PIC, donated GH¢20,000 towards the setting up of a Business Leadership Development Programme for KNUST students.
The KNUST Dairy Research Station is a leading research institute which has over the years developed dairy products and worked with local farmers to enhance dairy production in the country.
The partnership is to create at least 200 jobs in two years.