Business News of Mon, 20 Mar 20174
Government commits to reducing cost of doing business - Trade Minister
Ghana's Trade and Industry Minister, Mr. Alan Kyeremanten, has reiterated government’s commitment to putting in place measures that will reduce the cost of doing business in the country.
The minister referred to the 2017 budget which he said contained some major policy initiatives to provide incentives to companies, reduce and abolish taxes and levies to improve the competitiveness of the private sector.
Speaking at the 60th Anniversary celebrations of nutrition, health and wellness company, Nestle Ghana Limited, the minister said government will offer direct support in terms of providing access to medium and long-term financing as well as technical support to companies.
“Whatever it takes to support a company for them to survive and create jobs is what we are interested in so we will provide other incentives including marketing and distribution support to companies,” he said.
While commending the company for meeting its tax obligations, the minister praised Nestle Ghana for its commitment to the use of local raw materials.
He revealed that the Ayensu starch factory, which produces industrial starch, had Nestle as its first anchor customer and “it was Nestle that put Ayensu on the market.”
He was also convinced that the policy initiatives introduced by government will encourage Ghanaians to patronise local products and services.
The Managing Director of Nestle Ghana Ltd, Mrs Freda Y. Duplan, said the company had survived primarily by creating shared values for both businesses and society.
"Nestle is driven by one purpose-enhancing the quality of life and contributing to a healthier future," she said.
She touted the company's religious commitment to sports which, she said, had become a lifestyle for fitness and wellness.
The company also supports education by being the main sponsor for the Presidential Day Awards for the past eight years.
For a multinational company, Freda Duplan said their commitment to local agricultural sector has been encouraging.
"Through a partnership with the Ministry of Food and Agriculture from 2008 to 2016, Nestle trained more than 50,000 cereal farmers through the Northern Rural Growth programme, in partnership with the international Institute of Tropical Agriculture," she indicated, adding, that the company had a long term commitment to the youth and employment in the country.
“Our commitment to youth and employment is expressed by way of providing internship opportunities to prepare the youth for the world of work,” Mrs Duplan stressed.
She said the company will continuously help in building the country's nutrition as well as build a sustainable environment and rural development.
Mrs Duplan together with the Trade Minister unveiled a giant logo to mark the 60th Anniversary.
Established in 1957 as a Food Specialties Ltd, Nestle Ghana has over the past 60 years remained committed to promoting nutrition, health and wellness of individuals and families in Ghana.
The company has over the years constructed a Central Distribution Centre, commissioned a waste water treatment plant, and milk plant and an Infant Cereal Plant - Cerelac.
The company currently has 1,300 employees who have been directly engaged.