SERGE BAKALIAN

$460 Million

EXECUTIVE DIRECTOR, TAKORADI FLOUR MILLS

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Wealth: INHERITANCE, FLOUR

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Known For: TAKORADI FLOUR MILLS

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OVERVIEW

Serge Bakalian is a Ghanaian of Armenian descent and the Executive Director of Takoradi Flour Mills. He inherited the company from his father, Vasken Bakalian. Takoradi Flour Mills had an initial capacity of 200 metric tonnes per day and employed 60 people. Currently, Takoradi Flour Mills has three plants with a total installed capacity of 1,000 metric tonnes per day.

Takoradi Flour Mills has faced several issues in the past three decades. These difficulties included the downturn in the economy in the 1980s, which affected sales and financial performance. Its lack of financial resources made it difficult for the company to import wheat. Some workers were laid off temporarily. The energy crises of 1998 affected operations and Takoradi Flour Mills was unable to meet its targets.

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NET WORTH SUMMARY

Takoradi Flour Mills, with 100,000 metric tonnes of installed capacity accounts for about 40% of the wheat flour market in Ghana.

The main products of Takoradi Flour Mills are bread flour and pastry flour. A residue is sold as wheat bran. The flour produced by the company is packaged and sold to end users under the Sunrise (Stool) brand name.

Presently, the company processes about 3,500 metric tonnes of wheat weekly. Besides the production of flour and bran, Takoradi Flour Mills provides training and capacity development advice to bakers.

The company currently imports about 200,000 metric tonnes of wheat annually from Canada, Europe and elsewhere.

All the wheat flour produced by the company is sold on the local market. However, the company exports a by-product, wheat bran, to Morocco.

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