Ghanaian lobby group proposes a waiver of excise tax on bottled water

GHANA – The Association of Ghana Industries (AGI) is calling for an excise tax waiver on bottled water in the midyear budget review as it would help make companies in the sector more competitive and productive. The Association said that Ghana’s excise rate of 17.5% on bottled water was already significantly higher than the Economic Community of West African States (ECOWAS) recommended limit of 10% for non-alcoholic beverages which exempts water. In a statement signed by the Association’s President, Dr Yaw Adu Gyamfi, AGI said that the high excise regime…

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AGI completes acquisition of Indian rice equipment firm Milltec for US$82m

INDIA – Ag Growth International Inc. (AGI), the Canadian engineering and manufacturing solutions provider has completed the acquisition of Milltec Machinery Ltd for US$82 million (CAD 109.5 million). Headquartered in Bangalore, India, Milltec is a manufacturer of rice milling and processing equipment in India. In addition to the purchase price, AGI has the potential for up to an additional C$38.4 million (US$28.76 million) based on the achievement of EBITDA targets, according to a World Grain report. The acquisition will enable AGI, which majorly deals with grain handling, storage, and conditioning…

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AGI acquires 100% shares of Danmare Group

CANADA – Ag Growth International Inc., a leading manufacturer of seed, fertilizer, grain, feed and food handling, has announced that it has acquired 100% of shares in Danmare Group Inc., a Canadian provider of engineering solutions and project management services to the food industry. The acquisition also involved Danmare Group’s affiliate Danmare Inc. Danmare will play a vital role in AGI’s vision of becoming a leading manufacturer of not only food and feed but also rain handling and grain conditioning equipment. It will provide engineering solutions and project management services…

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