AGI members count flood losses

A number of companies, including sixteen so far recorded by the Association of Ghana Industries (AGI) from amongst its membership, are still counting their losses from the June 3rd floods which entered their business premises and destroyed property and equipment worth millions of cedis.

AGI member-companies like Kane-em Industries, Permafix Ltd. and Reroy Cables all lost valuable items to the floods, which according to AGI President James Asare-Adjei came at a time that businesses were already reeling under difficult economic conditions.

A number of the companies have been compelled to send employees home as they struggle to pick up the piece and get back on their feet.

“One company in the North Industrial enclave with 440 employees had to send all of them home because over 60 pieces of that company’s equipment have been affected by water,” the AGI president told the B&FT.

“And these are the challenges we are facing -- not to mention those companies that had all their offices flooded with all their historical documents which cannot be retrieved. There were a number of companies that had their vehicles submerged; brand-new vehicles that are being sold.

These are huge losses to these businesses and I believe as a country we should not allow our businesses to suffer in this manner,” he said.

He thus called on Metropolitan, Municipal and District Assemblies to be up and doing and create the needed infrastructure in industrial enclaves in order to promote industry and prevent disasters.

“The situation is worsened by the poor state of infrastructure and delayed road construction projects in some parts of the country,” Mr. Asare-Adjei said, and called on government to fix the drainage problems which make the impact of floods so severe.

“Accra has serious drainage problems coupled with the bad habits of waste disposal we are all aware of,” he said while presenting relief items and cash to NADMO on behalf of member-companies.

“North and South industrial areas in Accra are some of the worst-affected areas by floods, and yet have received little attention all these years in getting the drainage problem fixed,” he said.

“These problems affect government coffers as well, because once businesses are suffering the taxes will not come; also jobs will be lost.”

The AGI president also implored member-companies to take up insurerance policies to mitigate the risk of unforeseen disasters.