KATHMANDU: Nabil Bank will provide a channel financing facility to official dealers and sellers of cooking oil processed by Ganapati Vanaspati, a subsidiary of Lucky Group.
Amit More, Chairman of Ganapati Vanaspati and Managing Director of Lucky Group, and Gyanendra Dhungana, CEO of Nabil Bank, signed a memorandum of understanding (MoU) regarding the channel financing facility amid a signing ceremony in Kathmandu, on Tuesday.
On behalf of the company, Lucky Group Chairman Satish Kumar More, Vice Chairman duo Shrawan Kumar More and Raj Kumar More, as well as executive directors Ananta More, Krishiraj More and other employees of the company were present. Likewise, on behalf of Nabil Bank, Deputy Chief Executive Officers Manoj Gyawali, Sujeet Shakya, Bhupendra Pandey, Corporate Head Gyanendra Shah and other employees were present at the ceremony.
The channel financing facility from Nabil Bank will enable the dealers to optimise their working capital, streamline their operations, and drive sustainable growth in the competitive market, according to the company.
The company hopes to create a formidable synergy that will benefit all parties involved.
Ganapati Vanaspati, which has received Nepal Quality Mark and ISO 9001: 2015, 14001: 2015, has been selling and distributing processed sunflower oil, soyabean oil, mustard oil and palmolive oil under Safari and Ramdev brands. The company has recently launched Newari Plus brand in the market.
Ganapati Vanaspati is involved in the Make in Nepal Swadeshi campaign. The largest producer of ghee and oil in Nepal has been honoured by the Confederation of Nepalese Industries (CNI) for three consecutive years.
