Transaction Summary
The International Finance Corporation (IFC) announced a $37 million approved loan to the Mohinani Group to establish two PET recycling plants in Ghana and Nigeria through its subsidiaries, Polytank Ghana Limited and Sonnex Packaging Nigeria Limited. The Mohinani Group, established in 1966 by Ramchand Mohinani, has evolved into a multi-generational family business, employing over 5,000 people across manufacturing, packaging, consumer goods distribution, and real estate, with operations spanning Ghana, Nigeria, Kenya, and international trading centres in Hong Kong, London, Dubai, and Mumbai. Each plant will produce 15,000 tonnes of recycled PET (rPET) resins annually, reducing reliance on virgin plastics in food-grade packaging. Polytank’s rPET plant in Ghana is under construction on a 3.7-hectare site in the Tema Free Zone Enclave, Accra, while Sonnex’s rPET plant in Nigeria is in its final construction phase on a 5-hectare site in Ikorodu Industrial Estate.
This $55 million loan package for the Mohinani Group,
