GIHOC to offload 60 per cent shares

Mr Haruna Iddrisu, the Minister of Trade and Industry, has tasked the new Governing Board of the GIHOC Distilleries Company Limited to partner with the private sector to offload 60 per cent share of the company by December 30, 2014.

He said 20 per cent should be reserved for the state and 20 per cent off loaded onto the Ghana Stock Exchange.

Mr Iddrisu was speaking at the inauguration of the Governing Board of the company in Accra on Monday.

The Board Members are Mr Ade Coker, Chairman, Ms Heartwill Amekorfia Quist, Mr Jacob Jejehi Taponje, Ms Hela Annan, Mr Kamel Noshie and Mrs Kate Kwao-Simons.

He said the bidding process for the offload of the shares should be done openly and transparently with the involvement of local participation.

He commended the company for its sterling performance with the support of the Ministry of Trade and Industry.

He said government had decided to use the company as a means for job creation.

Ms Hela Annan, on behalf of the Board, thanked the President for the confidence reposed in them to serve on the governing board of the company.

She said the company would continue to contribute significantly to the capital market.

Ms Annan pledged members’ preparedness to bring their rich experience to translate in value for the appreciation of shareholders and their clients.

“As a team we believe to work together to improve the fortunes of the company,” she added.