The Government has disclosed plans to revamp GIHOC Distilleries Company Limited to increase its operational capacity, while creating employment opportunities in support of the 24-hour economy initiative.
Madam Elizabeth Ofosu-Adjare, the Minister of Trade, Agribusiness and Industry, made this disclosure during a working visit to the company on Friday, indicating the government’s readiness to support the company.
The visit was to assess the state of the company and explore ways to ensure that it becomes more productive, create jobs for Ghanaians, and export to contribute to foreign exchange earnings to tame inflation.
The manufacturer of alcoholic beverages was established in 1958 as a wholly-state owned entity. It is currently saddled with some GHS300-million debt and old machinery, despite having adequate human resources to run its operations.
“The good thing about GIHOC is that they have quality products that are respected within and out of the country. So, once we know the health, whatever it takes – financing, machinery, [and] labour, we will be able to do all of that because we hope to use GIHOC to employ a lot of people,” the Minister said.
“In order for them to take advantage of the 24-hour economy and run three shifts, and more importantly, also take advantage of the international trade agreements we have like AfCFTA, UK and EU markets, we should be able to retool the place.”
Madam Ofosu-Adjare promised to use the Ministry to support the promotion of various products of the company, particularly on the international market, while ensuring availability of raw materials.
Mr Jones Borteye Applerh, the Acting Chief Executive Officer (CEO) of GIHOC Distilleries, said with the quality of human resources available, revamping the company would enable it to help in transforming the economy.
The time had come to rethink and review systems and processes at the company to ensure its products became the choicest across the market, while supporting the reset agenda and the 24-hour economy initiative, he said.
Mr Applerh enumerated some factors that inhibited the company’s full capacity operation; including the use of installed machinery in 1964, inability to service its debts, and lack of marketing.
He expressed the willingness of Management to work collaboratively with the Ministry of Trade, Agribusiness and Industry for a retool, and make it attractive to investors.
He expressed confidence that when GIHOC was well resourced it would increase its export for higher foreign exchange to help reduce inflationary pressures.
GNA
