To support the 24-hour economy programme, government has explained the importance of giving GIHOC Distilleries Company Limited a facelift and revamping its operational capacity to create employment.

“The good things about GIHOC is that they have quality products that are respected within and out of the country. So once we know the health, whatever it takes – financing, machinery, [and] labour, we will be able to do all of that because we hope to use GIHOC to employ a lot of people,” Madam Elizabeth Ofosu-Adjare, the Minister of Trade, Agribusiness & Industry said on a working visit to the company on Friday, February 7, 2025.

“In order for them to take advantage of the 24-hour economy and run three shifts, and more importantly, also take advantage of the international trade agreements we have like AfCFTA, UK, and EU markets, we should be able to retool the place,” she added.

Mr Jones Borteye Applerh, the Acting CEO of GIHOC, agreed the company had a key role in contributing to the transformation of the economy of Ghana. He underlined the quality of GIHOC’s human resources, emphasizing, however, it was time to rethink and review systems and processes at the company.

He expressed support for President John Mahama’s vision to reset the economy with the 24-hour economy as a spearheading initiative.

Notwithstanding, the GIHOC executive identified old machinery from 1964, burdensome debts to a tune of GHS300-million, and poor marketing was hampering the company’s growth.

To remedy the situation, he noted the eagerness of the GIHOC management to work hand-in-hand with the Ministry of Trade, Agribusiness & Industry, expressing confidence in the company’s potential to attract investors, drive high foreign exchange, while curbing inflationary pressures.

GIHOC was established in 1958, a wholly-state owned manufacturer of alcoholic beverages.