GIHOC Distilleries Limited has unveiled an ambitious ‘Reset Agenda’ aimed at clearing its crippling GH¢427 million debt while repositioning the company for growth, profitability, and industrial leadership.
Addressing journalists during a media tour of GIHOC’s factory, Chief Executive Officer Jones Borteye Applerh declared a bold new vision 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 asserted.
Currently operating at less than 40% efficiency, GIHOC is weighed down by debts owed to the Ghana Revenue Authority, SSNIT, MASLOC, suppliers, and other creditors. Many of its machines date back to 1964, while raw material shortages have forced production halts, causing flagship brands to virtually disappear from the market.
“Let me be frank, GIHOC is facing its own challenges just like other SOEs; but they are not impossible,” Applerh assured.
In less than three months in office, the CEO says significant progress has been made. The company has procured 2.6 million bottles, reversed its “no bottle return” policy, resolved ethanol supply shortages thanks to “the kind benevolence of a traditional ethanol supplier,” and repaired critical machinery that had been idle for years.
Production is back in full force, with the sachet line, G Tot, running 24/7. “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,” he said.
Three-Horizon Strategy for Revival
Applerh outlined a three-pronged strategy:
Short-term: Stabilise operations with full audits, strict cost controls, and debt renegotiations with key creditors including GRA, SSNIT, and MASLOC.
Medium-term: Drive growth through rebranding of Takai, Sorento Wine, and Chevalier, revive exports within ECOWAS, and rehabilitate the Kumasi bottling water plant.
Long-term: Explore construction of a new ultra-modern distillery in the Volta Region, revive the Aboso Glass Factory for local bottle production, and build a dedicated logistics fleet to control national distribution.
Values Anchoring the Reset
The CEO pledged transparency, meritocracy, inclusivity, and youth empowerment throughout the transformation process.
“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,” Applerh emphasised.
A Rallying Call to Stakeholders
He concluded by calling for collective commitment from staff, suppliers, distributors, and customers.
“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.”
