The Chairman and Chief Executive Officer of the McDan Group, Dr. Daniel McKorley has through the McDan Foundation cut sod for the construction of an ultra-modern state-of-the-art Shea nut processing factory at Nasia in the Northern Region.
Estimated at a cost of GHS550, 000, the factory will enhance the operations of Alkoh Shea Butter with the cardinal aim of raising production to meet local and international demands.
Head of the McDan Foundation, Frank Oduro together with some staff of the Foundation cut the sod for the construction of the factory on behalf of Dr. McKorley on Wednesday July 22, 2020.
Alkoh Shea Butter is founded by local entrepreneur at Gambaga in the North East Region, Alhassan Hamza Akoligo, a graduate of the University for development studies who won the ultimate prize for the 2019 edition of the McDan Entrepreneurship Challenge (MEC).
While pitching in the highly competitive McDan Entrepreneurship Challenge, Mr. Akoligo identified the lack modern equipment as a challenge and an issue he would want addressed if he won the contest.
He eventually won the Challenge, with the accompanying prize money of One Hundred Thousand Dollars ($100,000).
It is therefore a dream come true for the McDan Foundation to move in to construct the factory.
Apart from the warehouse, Dr. Daniel McKorley also donated a brand new truck to the company to aid in its operations.
Again, the Business Mogul as part of efforts to ensure that Alko Shea Butter succeeds, has signed an off-taker agreement with the company to buy 70% of the processed shea nuts.
Dr. McKorley said “Investing in youth entrepreneurship is my passion,”.
About Alhassan Hamza Akoligo
Coming from a family where his parents are not well to do, he fought his way through education and graduated with a degree from the University for Development Studies. After his National Service he searched and searched for a job to no avail. Just when frustration was beginning to set in, his mother who was into the production shea butter talked him into joining her. The idea that such a business was for women crossed his mind first, but he took the challenge and began to inject some innovations into the business, and then Alko Shea Butter was born. His high point came when he joined McDan Entrepreneurship Challenge. It was tears of joy on the night of Friday February 21, 2020 at the Accra International Conference Centre when he was declared winner of the highly competitive Challenge by a panel of very distinguished judges.
About the McDan Entrepreneurship Challenge
The McDan Entrepreneurship Challenge (MEC) seeks to unearth the talents and creative acumen of young entrepreneurs and to support such young people financially to develop their ideas and own businesses.
It is organized annually with a prize money of One Hundred Thousand Dollars ($100,000) for the ultimate winner.
The McDan Entrepreneurship Challenge is organized in collaboration with Today’s Entrepreneurs Network (TEN Ghana), who are united in their conviction that youth unemployment remains the biggest national security threat to the country.
Partner institutions include the Ghana Institute of Management and Public Administration (GIMPA), National Entrepreneurship and Innovation Plan (NEIP), Ministry of Business Development and Active Media.