Despite the country’s macroeconomic challenges, Guinness Ghana Breweries Limited (GGBL) is focusing on investing in strategic areas of growth to bring sustainable value to all stakeholders.
The company will do this by innovating great brands such as Orijin Bitters and Orijin Ready to Drink (Rtd) and Guinness Africa Special.
Simon Harvey, Chairman of the Board, who made this known at the 44th Annual General Meeting (AGM) held in Accra recently, outlined a number of macro-economic challenges faced by the business and the wider industry.
He said, “Ghana’s macro-economic performance remains challenged. Inflation pressures remain elevated in 2016 due to the continuing pass-through effects of the adjustments in utility prices and to a lesser extent petroleum prices.
“The year-on-year inflation as at June 16 was 18.4% compared to June’s 15 year-on-year inflation rate of 17.1 %. Cost of borrowing continues to be a challenge for businesses. The Bank of Ghana’s Monetary Policy Rate as at June 2015 was at 22% and this moved up to 26% as at June 2016.”
Mr. Harvey said despite the fact that Guinness Ghana was affected by these challenges, the company would continue its investment to ensure growth.
He expressed confidence in the future prospects of the organization through growth, productivity and a winning mindset.
Mr. Harvey said GGBL, the leading total beverage business in Ghana, has the ambition of creating the best performing, most trusted and respected consumer products company in Ghana.
He added that his outfit is committed to investing in its brands, equipment and employees to guarantee consistent premium, quality products to satisfy the needs of consumers.
cephrok@yahoo.com
Cephas Larbi