GHANA- Guinness Ghana breweries plc has set for itself ambitions to utilize more than 70% of locally sourced raw materials in its production by 2020 to increase its profitability for local farmers.
The managing director of Guinness Ghana Brewery Plc, Mr Gavin Pike, said that the company has grown its commitment toward sourcing its raw materials locally since 2012.
Since then, the company has increased its local sourcing from 12% to the current over 50%.
The managing director said that the company has realised significant boost in its net revenue partly due to its reliance on locally sourced raw materials.
More than 25,000 farmers are currently supplying grains and cereals directly to the firm.
According to Mr Pike this ambition is in line with the country’s development agenda and government’s ‘Planting for Food and Jobs’policy.
He said that the recently commissioned production line at Achimota has doubled the company’s capacity to meet demand of growing consumers of the beverage adding that the company also believes in investing in the community in which it operates.
“Sustainability of our business and the sustainability of our performance is conditioned upon the trust and respect we have in the communities in which we operate,” said Mr Pike.
GGB Plc through the managing director reassured its consumers that it has devised strategies towards curbing counterfeit brands in the market and is also committed in diversification.
The Finance Director of GGB Plc, Madam Teye Mkushi,said the Company had made significant profit reflected by the increase in profit before tax from US$2.48 million in 2017 to US$7.22 million in 2018.
She said the profit made by the company resulted in the company declaring profit and paying dividend to shareholders for the first time in four years.
The company’s Board Chairman, Mr. Felix Addo commented that the company will continue to comply with the regulatory frameworks in the country to ensure international best practices in its operations.
Mr Addo said the company stands by its vision to be the best performing and trusted consumer product, as well as most efficient and respected company.