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    Transformation of Ghana’s agriculture will not be complete without active involvement of women – Agric Minister

    Transformation of Ghana’s agriculture will not be complete without active involvement of women – Agric Minister

    Peasant farmers warn Ghana’s .5bn food import bill could rise over galamsey

    Peasant farmers warn Ghana’s $3.5bn food import bill could rise over galamsey

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    Vatican Invites Agrihouse Foundation’s  Founder to Share Africa’s Voice on Food Systems at World Meeting on Human Fraternity

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    Agrihouse Foundation’s Executive Director Appointed  Co-Director for Rural Hack’s Food Systems 5.0 Summer School In Italy

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    Agrihouse, AGRA, Mastercard Foundation Support Sakoti Farmers with Chili Pepper Training

    Agrihouse, AGRA, Mastercard Foundation Support Sakoti Farmers with Chili Pepper Training

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    Italy’s Rural Hack and Ghana’s Agrihouse Foundation Partner to Strengthen Youth in Agribusiness, Innovation, and Technology

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    GVMA hails govt’s ‘Feed Ghana Programme’ as game-changer for food security

    GVMA hails govt’s ‘Feed Ghana Programme’ as game-changer for food security

    COCOBOD launches reward scheme to tackle cocoa smuggling

    COCOBOD launches reward scheme to tackle cocoa smuggling

    Cocoa farmgate price up by GH¢400

    Cocoa farmgate price up by GH¢400

    Hungarian Embassy hosts companies to grow poultry industry

    Hungarian Embassy hosts companies to grow poultry industry

    Uganda Unveils ‘Super Goat’ Breed Set to Transform Livestock Sector and Boost Exports

    Uganda Unveils ‘Super Goat’ Breed Set to Transform Livestock Sector and Boost Exports

    Gov’t secures €47m to revamp irrigation

    Gov’t secures €47m to revamp irrigation

    Agrihouse Foundation leads push to position cassava as the next gold mine

    Agrihouse Foundation leads push to position cassava as the next gold mine

    GEA introduces a new digital condition monitoring solution for the dairy and beverage industry

    GEA introduces a new digital condition monitoring solution for the dairy and beverage industry

    Land banks needed to attract youth into Agriculture – Fairtrade youth ambassador

    Land banks needed to attract youth into Agriculture – Fairtrade youth ambassador

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    World Bank revises Ghana’s end-year growth rate upward to 4.3%

    World Bank revises Ghana’s end-year growth rate upward to 4.3%

    French Navy collaborates with Fisheries Ministry to combat IUU along Gulf of Guinea 

    French Navy collaborates with Fisheries Ministry to combat IUU along Gulf of Guinea 

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    Alberta Akosa Joins Global Leaders at UN to Drive Africa’s Digital Transformation.

    WFF Ghana Chapter to Host Youth-Led Webinar to Drive Nutrition and Health Innovation in Ghana’s Food Systems

    WFF Ghana Chapter to Host Youth-Led Webinar to Drive Nutrition and Health Innovation in Ghana’s Food Systems

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    President  Mahama launches distribution of 3m coconut seedlings

    Agrihouse Foundation Postpones 15th Annual Pre-Harvest Agribusiness Conference and Exhibition to October 2026 for Greater Impact

    Agrihouse Foundation Postpones 15th Annual Pre-Harvest Agribusiness Conference and Exhibition to October 2026 for Greater Impact

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    Agrihouse Foundation and Mulheres Do Agro Partner to Host 1st International Women in Agribusiness and Entrepreneurship Congress in Brazil

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    African Development Bank Group Board Approves New Strategy to Drive Economic Diversification and Private Sector-led Inclusive Growth in Lesotho

    Arab Africa Trade Bridges (AATB) Program Launches Strategic Wheat Development Initiative in Mauritania 

    Arab Africa Trade Bridges (AATB) Program Launches Strategic Wheat Development Initiative in Mauritania 

    Farmers from Across the Globe Unite in Stellenbosch for the G20 Farmers Dialogue

    Farmers from Across the Globe Unite in Stellenbosch for the G20 Farmers Dialogue

    NAMPO Cape 2025 breaks records and strengthen the future of Agriculture

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    Agrihouse Foundation and Mulheres Do Agro Partner to Host 1st International Women in Agribusiness and Entrepreneurship Congress in Brazil

    Agrihouse Foundation and Mulheres Do Agro Partner to Host 1st International Women in Agribusiness and Entrepreneurship Congress in Brazil

    Grain under pressure: the Bunge-Viterra merger could cost farmers and consumers ,5 billion a year

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Home Featured

GIHOC launches reset agenda to tackle GH¢427m debt

by Agriwatch
July 25, 2025
in Featured
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GIHOC launches reset agenda to tackle GH¢427m debt
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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

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