How Can You Sell Alcohol And Incur Losses?- Mahama on GIHOC
President John Dramani Mahama has expressed bewilderment at the continuous incurrence of losses by GIHOC Distilleries Company Limited.
In his view, it should have been the most profitable enterprise among the State-owned enterprises.
Speaking at the Labour Union May Day gathering on May 1, 2025, “We had a conference with SIGA and we’re given the debt position of state-owned enterprises and almost all of them are in debt.”
“Even companies like GIHOC Distilleries- where when I was President they used to pay a little dividend to government- today they also owe. The question I ask is, how can you sell alcohol and be in debt?
“When Ghanaians are happy, we drink alcohol, when we are sad we drink, when we are not happy and not sad we drink. So how can you sell alcohol and lose.”
He therefore charged the management of SoEs and the workers to make collective efforts towards making the companies viable.
At the ‘President Mahama Meets CEOs of Specified Entities’ event in March, Finance Minister, Dr. Ato Forson revealed that GIHOC Distilleries recorded a loss of GH¢25.1 million in 2022 and GH¢25.5 million in 2023.
Source: opemsuo.com/Hajara Fuseini
