Consumers of products of Kasapreko Company Limited should fervently hope for the cedi to continue its stability, since it is the only way they can enjoy price reduction from the company.
The Managing Director of Kasapreko, Richard Adjei, is optimistic that Ghanaian consumers may soon enjoy lower beverage prices as the indigenous manufacturing giant will definitely cut prices if the local currency’s recent appreciation is sustained.
Speaking to The High Street Journal on the sidelines of the company’s recent Facts Behind the Figures Series with the Ghana Stock Exchange (GSE), Richard Adjei admitted the recent gains made in the local currency and how the strengthening of the cedi is reshaping cost structures and opening the door for consumer-focused pricing.
He emphasized that the ongoing stability of the local currency has a direct bearing on the company’s operational costs. The MD noted that a stable or appreciating cedi reduces the burden of imported inputs, making it cheaper for local producers to operate.
Although the company is making some savings from the recent gains of the cedi, its sustenance is the only way that can enable Kasapreko to share the savings with consumers through a reduction in prices.
“We hope that the cedi stays stable within the year. It helps us in planning and also pricing. If it is going up and down, you are not able to plan well, and you are not able to price well,” he remarked.
He continued, “So with the cedi being stable, we hope that if it continues to go down, we will look at the cost. Certainly, the cost will come down, and hopefully, we will be able to pass down some of that savings to consumers as well.
Kasapreko is one of the significant market leaders in Ghana’s beverage industry. It is the number one in the production of spirits and among the top three in the production on non-alcoholic beverages. It is also the producer of the Awake and Alomo brands on the market.
Given its reach, a reduction in prices of their products which is about 30 brands, will have a significant impact on the budgets of many Ghanaians.
For the average Ghanaian consumer already grappling with high inflation and rising utility bills, Kasapreko’s signal offers a glimmer of hope. Price reductions on popular beverages, including mineral water, soft drinks, and spirits, would directly ease household spending, especially as the economy enters the second half of the year.
Kasapreko’s announcement aligns with wider calls for businesses to translate macroeconomic gains into tangible relief for consumers.
The onus now lies with the Bank of Ghana and the government to ensure that the gains made in the local currency are sustained so that Ghanaians can enjoy a reduction in prices of both alcoholic and non-alcoholic beverages.
