(Ecofin Agency) - German development finance institution DEG has granted €2 million (about $2.2 million) to fairafric GmbH, a German company which specializes in the production and marketing of chocolate bars. The beneficiary will use the money to establish a chocolate production plant in Ghana, in response to growing demand.

The loan deal is part of the AfricaConnect program, an initiative of the German Federal Ministry for Economic Cooperation and Development to support companies investing in Africa. It is also DEG’s first investment in Africa for 2020 and new commitments in high-potential sectors are expected during the course of the year.

Chamberline Moko