Manorama Industries Limited announced today, July 09, 2026, that its Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) in Chad. The WOS, to be named Manorama CFA Savannah Agro Chad, will focus on the buying, processing, and selling of shea nuts, shea butter, and other related materials. The proposed subsidiary will have an authorized capital of CFA 1,00,00,000 and a paid-up capital of CFA 1,00,00,000. The investment will be made in cash, with an initial cost of acquisition amounting to CFA 1,00,00,000. This move is considered a related party transaction as the WOS will be a subsidiary of Manorama Industries post-incorporation, and all transactions will be conducted on an arm's length basis. The company stated that the incorporation of the WOS in Chad will be in accordance with the laws applicable in that country. While the indicative time period for completion is not applicable as the company is yet to be incorporated, the primary objective is to expand operations in the shea nut and butter sector.
