The Chief Executive Officer of GIHOC Distilleries Limited, Jones Borteye Applerh, has committed to clearing the company’s over GH¢427 million legacy debt as part of a sweeping industrial recovery and transformation agenda.
Addressing journalists during a media tour of the company’s factory on July 24, 2025, Borteye Applerh said GIHOC is undergoing a reset that will be anchored on discipline, efficiency, and delivery.
“This is not just a change in management. This is a call to integrity, discipline, and above all, delivery. GIHOC must rise again,” he declared.
He revealed that the company is currently operating at less than 40 percent efficiency, with some of its equipment dating as far back as 1964.
He described the financial situation as dire, with debts exceeding GH¢427 million, including unpaid taxes to the Ghana Revenue Authority (GRA), pension arrears, loans, and obligations to suppliers, MASLOC, and other creditors.
He noted that the lack of raw materials had stalled production for months, resulting in the near disappearance of GIHOC’s flagship brands from the market.
“Let me be frank, GIHOC is facing its own challenges just like other SOEs; but they are not insurmountable.”
In just under three months of assuming office, the new CEO says the tide has begun to turn. GIHOC has procured 2.6 million bottles and reversed the “no bottle return” scheme introduced by his predecessor.
The company has also resolved its ethanol supply crisis, thanks to what he described as “the kind benevolence of a traditional ethanol supplier of GIHOC,” and repaired aging equipment — including machines that had been idle for years.
He further highlighted internal reforms, noting that “internal controls have been tightened, we are plugging every leak.”
Production has also resumed in full force. The sachet line, G Tot, is currently operational 24/7, positioning the company as a prime player in the government’s 24-hour economy initiative.
“We are poised for the charge given by H.E the President under Ghana’s 24-hour economy Policy. As you all acknowledge, GIHOC is an easy candidate.”
Looking ahead, Applerh outlined a three-horizon strategy. In the short term, the company will stabilise operations through full audits, strict cost controls, and renegotiation of debts with GRA, SSNIT, MASLOC, and other creditors.
The medium-term plan focuses on growth through rebranding of key products such as Takai, Sorento Wine, and Chevalier, reactivation of exports across ECOWAS, and revamping of the Kumasi bottling water plant.
In the long term, the CEO hinted at transformative projects such as the possible construction of a new ultra-modern plant in the Volta Region, revival of the Aboso Glass Factory to ensure local bottle production, and establishment of a dedicated logistics fleet to control distribution.
He also highlighted the corporate values that would underpin this transformation:
“We will be transparent. We will be merit-driven. We will value dialogue over confrontation. We will promote gender equity and youth inclusion. We will be aligned with the RESET agenda and the national industrialisation plan.”
He concluded by rallying all stakeholders to get involved in the company’s revival.
“GIHOC is not one person. It is not for the Board Members alone. It is all of us—staff, investors, suppliers, distributors, and customers. We invite scrutiny. We welcome partnerships. We need your trust.”
Source : citinewsroom
