Accra: Mr. Jones Borteye Applerh, the Chief Executive Officer of Ghana Industrial Holding Corporation (GIHOC), has made a passionate plea for the urgent revitalization of the struggling facility, emphasizing that "GIHOC must rise again." He addressed the media during a press conference and a tour of the company's production facility in Accra, outlining the critical issues affecting the corporation.
According to Ghana News Agency, Mr. Applerh highlighted the numerous challenges that GIHOC has faced in recent years, including crippling debt, outdated machinery, stalled production, and a shrinking market presence. The CEO pointed out that much of the equipment, some dating back to 1964, is operating at less than 40 percent capacity, necessitating modernization to improve efficiency.
The financial woes of GIHOC are significant, with debts exceeding GHS 427 million. These liabilities include unpaid taxes to the Ghana Revenue Authority, loans, pension arrears, and obligations to suppliers and the Microfinance and Small Loans Centre (MASLOC). Mr. Applerh noted that a lack of raw materials had stalled production for months, causing flagship brands to nearly disappear from store shelves and resulting in a substantial loss of market share.
In the past five months, 2.6 million bottles have been procured, and the company has reversed the "No bottle return scheme" implemented by previous management. The ethanol crisis has also been resolved, thanks to a longstanding supplier, allowing production to resume.
Mr. Applerh detailed the repair of aging equipment and the implementation of tighter internal controls to restore GIHOC's visibility, particularly in major cities like Accra and Kumasi. He announced that the G Tot line, responsible for producing sachet products, is now fully operational and ready to meet the demands imposed by the government's 24-hour economy policy.
The CEO laid out a comprehensive roadmap to restore GIHOC's stature, emphasizing short-term stabilization through audits, cost controls, debt renegotiations, and re-engagement with key stakeholders like banks, the Ghana Revenue Authority, Social Security and National Insurance Trust, MASLOC, and suppliers.
In the medium term, the focus will shift to growth through infrastructure upgrades, product rebranding, export activation across ECOWAS, and revamping the Kumasi bottled water plant. Long-term plans include the potential establishment of a new ultra-modern plant in the Volta Region, reviving the Aboso Glass Factory to secure local bottle supply, and meeting the country's glass needs.
Mr. Applerh also outlined plans to establish GIHOC's logistics fleet and warehouses while rebranding the corporation to balance tradition with innovation. Moving forward, GIHOC aims to be transparent, merit-driven, promote gender equity and youth inclusion, and align with the government's RESET Agenda and national industrialization plan.
The CEO reaffirmed the commitment of the current management to restore GIHOC's former glory, reclaim its leadership in the beverage industry, and return the company to profitability. He expressed confidence that GIHOC would not only survive but thrive in the future.
