The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has announced plans by the government to reposition GIHOC Distilleries Company Limited.
‘This,’ she said, ‘would be done through a comprehensive financial and operational restructuring programme aimed at aligning the company with the 24-hour economy policy.’
She explained that the move is expected to strengthen the company’s balance sheet, enhance operational capacity, and restore its competitiveness within Ghana’s beverage manufacturing sector.
She announced this during the commissioning of new vehicle fleets to support GIHOC Distilleries’ operations.
The minister stated that addressing the company’s structural liabilities and improving operational efficiency are critical to repositioning it for growth and competitiveness.
“This investment directly addresses one of GIHOC’s most critical operational gaps: the inability to efficiently and effectively reach a distribution network and retail point across the country. My ministry recognises that asset injection alone is insufficient to drive a sustainable turnaround.
“Accordingly, government will work in collaboration with the board and management of GIHOC to address the company’s structural financial liabilities, review its operating model for long-term viability and explore opportunities to expand its production capacity under the 24-hour economy.
“GIHOC must return to profitability, and you must demonstrate that a state enterprise can compete efficiently and effectively in a liberalised market. These vehicles represent an investment of public resources, people’s taxes, including your own, and must be managed with accountability, discipline and a clear commercial strategy,” Elizabeth Ofosu-Adjare remarked.
The minister highlighted GIHOC’s strategic position in Ghana’s industrial history since 1958, noting its strong brand recognition locally and internationally. However, she acknowledged the company’s structural challenges, including limited working capital and ageing infrastructure, which the government aims to address to revive public-sector enterprises.
By: Rainbowradioonline.com/Ghana
