Business News of 2013-12-05

New duty free shop for Aflao

A Duty Free Alliance Limited, a partnership between Ghanaian investors and Duty Free Holdings International, has expressed interest to operate a duty free retail shop at the Customs Border crossing territory at Aflao.

The company which is majority owned by Russian investors is also proposing build duty free shops at the other border crossing areas at Elubo and Paga.

Mr Viktor Molnor, Chief Executive of Duty Free Alliance Limited, speaking to government, Customs and Immigration officials during a tour at the Aflao border crossing stated that Ghana’s stable democratic environment and positive economic outlook naturally makes the country attractive for business and leisure in Sub-Saharan Africa.

He said the building of the duty free shop at Aflao is the company’s first operation in Africa after long investigations regarding the business environment on the continent.

He said the company decided to come to Ghana because in their view the country is probably the best place in Africa where they could start their business.

Mr Molnor also stated that Duty Free Holdings International currently runs duty free shops in nine countries including Russia, Germany, Ukraine, Lithonia, Georgia and Iraq.

He noted that the company has more than 20 years of experience in duty free sales business and expressed the hope of sharing the experience with Ghana.

Mr Francis Ganyaglo, Deputy Volta Regional Minister said government is committed to develop the economy and as such it is prepared to partner the private sector to grow the nation.