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Marcopolis presents the Ghana Report focused on investments, doing business, economy and other topics featuring interviews with key executives and government officials. The sectors under review are agriculture, banking, energy, industry, telecom, IT, real estate and more.
InterviewsDecember 12, 2023
Navigating Growth and Innovation: Unveiling Jean-Paul Feghali’s Vision for Imexco Ghana
Jean-Paul Feghali, CEO of Imexco Ghana
- Written by Sandra Francisco
- Published: December 12, 2023
Interview with Jean-Paul Feghali, CEO of Imexco Ghana
Let's start with an overview of your Imexco's history. How did it all begin, and could you highlight some key milestones and provide a bit of background?
I am Jean-Paul Feghali, the CEO of Imexco Ghana Limited. Our company was incorporated in Ghana in 1990, founded by my late father and his partner, who currently serves as our chairman, Mr. Nassar. Initially, our primary focus was on commodities, specifically importing goods such as rice and sugar to meet the country's demand. Over a span of five to six years, we initiated diversification into other segments like beverages. Additionally, we expanded into various other sectors, including IT, where we have represented Xerox since 2000. Our ventures extended to real estate projects and manufacturing, leading to a continual evolution across different fields.
As of today, our workforce comprises nearly 1000 employees. While we maintain our engagement in distribution and importation, our activities extend to food manufacturing. We operate a printing press and serve as agents for Xerox. Proudly, we are agents and franchisees for Decathlon and our investments have ventured into the hospitality sector, we own a restaurant and currently we are even venturing into the hotel sector. Our primary objective is to identify opportunities and add value. Leveraging our expertise and competence, we strive to understand the market and make strategic investments.
Your unique value lies in your understanding of the Ghanaian market. Let's delve into that aspect. If you were to attract partners, how would you go about it?
Operating in emerging countries demands values that are not typically taught in school or university. It requires patience, flexibility, and a strong motivation to overcome barriers and achieve goals. The circumstances in these regions make them volatile, and expecting a smooth journey without challenges is unrealistic. We face local challenges, such as difficult access to finance, particularly in Ghana where interest rates are very high. Hence, we often seek internal funding or equity for our projects. Additionally, there is a limitation in human resources, especially in terms of qualifications for specific sectors. Given these factors, one needs strong motivation and belief in the project's goals.
For example, when we started importing coffee to Ghana, there was skepticism about selling coffee in the country. However, by understanding social media trends and demand in 2010, we identified an opportunity to supply quality espresso consistently. Despite initial doubts, we successfully integrated Imexco, ensuring consistent quality espresso in hotels and restaurants nationwide. This illustrates our ability to comprehend the value chain, identify opportunities, and bring added value. In our context, there may not always be existing data or a market, and sometimes we have to create the market. That is the context in which we operate.
Could you provide an overview of your international reach and your connections outside of Ghana?
Currently, we have extensive collaborations with international companies. In the realm of commodities, we engage with major players like Cargill and Louis Dreyfus, both with a rich history spanning almost a century. Our enduring relationships with them have been cultivated over many years. We have a preference for working with specialized companies. Additionally, a significant part of our international network includes the brands we represent, such as Hennessy and San Pellegrino, among others. These entities serve as our primary international counterparts.
So, your involvement extends beyond the brands you mentioned earlier; are you engaged in other fields as well?
Absolutely. In addition to our involvement with those brands, we are also engaged in printing. This includes substantial dealings with large printing mills and paper mills. Take, for example, the ice cream sector within our chain. We collaborate with a manufacturer of ice cream machines and a supplier providing the base essential for our production. It is crucial because not everything is readily available in the region. Therefore, we rely on the expertise and support of established companies with a deep understanding of the industry. These collaborations extend beyond just transactions; they contribute to our training, competence, knowledge, and access to global trends. This assistance ensures that we stay at the forefront of our business.
If you were to engage with investment firms in your industry, what business opportunities would you present to them? Where do you envision potential for investment within your operations?
Our group is primarily focused on two sectors that we anticipate will see significant growth in the coming years. The first sector is manufacturing, encompassing food processing and other locally producible goods. We strongly believe in the potential of this sector. The second sector is hospitality, leveraging our existing chain of restaurants and proprietary concepts. We see a market beyond Ghana, recognizing the rapid development of the West African region within ECOWAS. Studies indicate that by 2050, the West African mega-corridor, spanning from Lagos to Abuja, will be the world's largest, with a population density exceeding 500 million people.
In light of this, we cannot limit our endeavors to Ghana alone; we must consider the broader region. This strategic shift is imperative now, given the time required for implementation. Therefore, I would convey to investors that their support in these specific sectors is crucial. We understand the market dynamics, supported by studies illustrating consistent growth trends over the years, reinforcing our belief in the untapped potential.
Can you share some success stories that you take pride in?
Within the group, there are numerous success stories, not just limited to my experiences. Many of our colleagues and partners have shared interesting ideas and accomplishments. One of the most remarkable achievements, in my 18 years with the group, was when we acquired a struggling printing factory. Today, it stands as a leader in the printing press industry in Ghana. We have achieved an almost sixfold increase in turnover and expanded our reach beyond Ghana's borders. Currently, we export over 40 to 50% of our production to countries such as Gabon, Ivory Coast, Senegal, Nigeria, Togo, Burkina. Notably, we became the first company approved by KFC for the usage of our packaging. Taking over, the company presented challenges, including outdated machinery, but through significant efforts and a factory revamp, it has transformed into one of the most modern African factories in 2023.
What about your current projects? What are you focusing on?
Currently, we are highly engaged in the development of our printing and food processing segments. We are actively working on industrializing our ice cream production in a factory setting. While we currently produce gelato for a high-end clientele, we aspire to make it accessible in supermarkets and homes across Ghana and the broader West African region. We see a gap in the market, believing there is an untapped segment without significant competition from major brands like Häagen-Dazs and Ben & Jerry's. Leveraging our experience in ice cream making, we find this sector promising.
Additionally, we are focusing on expanding our hospitality offerings. We aim to develop the franchise for our Pinocchio concept, which features gelato and pizza, not only in Ghana but also in other countries. This is another active area of focus for us.
Are you engaged in any CSR initiatives?
When it comes to CSR, we collaborate and engage in numerous initiatives throughout the year. Our approach is demand-driven, addressing various needs, whether for charitable organizations or local communities. For example, during the floods in the Volta Region, we provided essential goods like rice and sugar to the affected communities. This reflects our ongoing commitment to CSR – it happens continuously, although we may not always communicate about it. We are actively involved in various CSR activities.
Can you share any awards or certifications that you find particularly noteworthy?
Recently, we have achieved several certifications and awards. Two years ago, we received recognition for the best manufacturing practices in printing. This year, we were honored with the best customer care award for distribution. These accolades highlight our strong presence in the industry and our continuous efforts to provide exemplary service to our customers from all fronts.
Looking ahead about three years, project yourself into the medium term. In an ideal scenario, what achievements would you like to see for Imexco?
Looking ahead, a significant goal for us is to export our own products – those that we have conceptualized, manufactured, and produced right here in Africa, specifically in Ghana. This would be a compelling achievement for us, as we aspire to extend our focus beyond Ghana and envision a broader impact across Africa. The main driving force is to not only think regionally but to also create products that emerge from the region. Currently, our focus is on West Africa, but once established there, the potential to expand becomes vast, especially with the AfCFTA (African Continental Free Trade Area) facilitating trade within 53 countries across the continent. In essence, our reach aims to cover the entire African continent.
Do you believe that this applies consistently, even within the ECOWAS region? Does ECOWAS effectively function?
Absolutely, ECOWAS does work. If it did not, we would not be able to produce items like labels or packaging materials and export them to other countries in the region. What made us competitive was not just being ECOWAS certified; it was the effort we invested in obtaining that certification. This certification played a crucial role in our ability to enter these markets. Previously, these markets sourced such items from Europe, America, or India, but now they purchase from Ghana and us. While it may take time for legislation to be established, it does work. It is just a matter of understanding how it functions. Through experience, I can assure you that ECOWAS works. Additionally, we also import ECOWAS-certified products from outside, like the BB cocktail, a Castel product, also Lomi, another product of Castel. We act as the agent for Ghana, and thanks to ECOWAS, it facilitates the import, contributing to increased trade between both countries.
What inspires you?
I would say the opportunity to continually innovate and improve in Ghana and the region motivates me. The prospect of encountering something new, whether it is a problem or a solution, keeps me engaged. Knowing that there are always actions to take and challenges to overcome is what drives me on a day-to-day basis.
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