Business News of 2014-01-24

Industries must engage in healthy competition

The Minister of Trade and Industry, Mr Haruna Iddirisu, has expressed concern about the rate at which Ghanaian companies use “unhealthy tactics” to tarnish the image of one another when marketing their products globally.

He, therefore, condemned the act and called on local industrial companies to rather engage in healthy competition in order to raise high the flag of Ghana.

Mr Iddrisu raised the issue when he paid a familiarisation visit to the Kasapreko Company Limited (KCL), manufacturers of alcoholic and non-alcoholic beverages, in Accra.

Mr Iddrisu said he had received several complaints that Ghanaian industrialists and manufacturers used destructive tactics to fight their own local companies when bidding for contracts globally.

The minister commended the KCL and described the company as a true success whose achievement depicted that Ghanaian industrialists could perform just like those in the developed countries.

“I am highly convinced that KCL and its founder, Dr Kwabena Adjei, epitomise industrial and infrastructural success and therefore they require government support and attention,” Mr Iddrisu said.

According to him, the government was ready to partner and provide assistance to any Ghanaian company, adding that “we look forward to facilitating a stronger bond between the private and public sector”.

The Founder and Chief Executive Officer of KCL, Dr Adjei, said since the company was established in 1989, it had invested resources in producing quality and affordable alcoholic and non-alcoholic beverages.

In terms of the company’s corporate social responsibility, Dr Adjei said two per cent of the company’s profits had been devoted to granting scholarships to selected communities, adding that “we intend to do more this year to support the development of the country’s economic growth”.

Challenges facing KCL

Dr Adjei said the problem the company faced when dealing with the officials of Customs and Excise and Preventive Service (CEPS) was hampering the operations of KCL.

“It becomes disheartening when some government official, through no fault of ours, puts us into a very bad position. Sometimes, when we import products, they ignore our correct invoices and say they will give us the commissioners values, making us feel like we are not doing the right thing,” he said.

Source: graphic.com
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