Kasapreko to invest initial $50m in new factory in Nigeria
The management of Kasapreko Company Limited (KCL), one of Ghana’s beverage producers has indicated its intention to build a factory in Nigeria.
The company says it will invest an initial $50 million in the first phase of the production plant.
It also says it is making frantic efforts to gain solid root in the Nigerian market, and the Abuja Chamber of Commerce has pledged its unflinching support to ensure that the company’s products are widely patronized in Nigeria.
A three-man delegation from the Abuja Chamber of Commerce, who visited KCL’s factory in Accra, gave the assurance after they were conducted around the plant site.
The delegation, which was led by its President, Delle Kelvin Oye, was conducted around the plant by the Production Manager of KCL, V. P. Mohan.
Other members of the delegation were Joe Idowu Wenegieme and Major General J. I. Gaba, Director General and Vice President respectively of the Chamber.
The visit gave the delegation first-hand knowledge of the company’s operations and its products which are gaining recognition in Nigeria.
After the tour of the factory, the delegation had discussions with the Group Chairman of Pinnade Holdings Limited, Dr. Kwabena Adjei, where they assured him of supporting the company in whichever way they could to make Kasapreko a household name in Nigeria.
They later presented a plaque to the President of Kasapreko Company Limited, Dr. Kwabena Adjei for his foresight and for projecting the company globally.
Dr. Adjei assured the delegation of KCL’s intention to extend its production beyond the frontiers of Ghana to either set up a subsidiary or go into partnership to expand its operations in Nigeria.
Speaking in an interview, Andrews Akolaa, Marketing Manager of KCL, said the Nigerian market was a good one, and emphasized that Kasapreko products have been widely accepted there, and hence, their decision to increase their products in that country.
He revealed that the company was also eyeing Kenya, Liberia, Sierra Leone and the DR Congo, stressing that feasibility studies have been undertaken with regards to entering these markets.
Officially, the management of KCL entered the Nigerian market in 2009 and Nigerians are said to patronise its beverage known as ‘Alomo Bitters’.
Meanwhile, the company has started moves to build a plant in Nigeria and is expected to invest about $50 million in the first phase of building the factory.
By Innocent Appiah
Ghanaian companies investing in Nigeria should be very, very careful. The Nigerians can easily frustrate you. If you are a Ghanaian and want to invest in Nigeria, be extremely careful. I lived in Nigeria for many years and know what I’m talking about.
@ Dawadawa – i think it is fair to say that for any firm going cross-border there will be always challenges. My firm has invested in several countries and Ghana by far is the most difficult country to do business in because it is painstakingly slow!!!!!
@John Doe, I hail your outstanding response to Dawadawa’s negative impressions about Nigeria. There is no country on the face of the earth that hasn’t got its own challenges and potentials and Nigeria and Ghana are no exceptions. Nigeria may have its upheavals no doubt, but that does not suffice to say its economic and business terrain is a threat to foreign investments. The Nigerian people are known for their landmark efforts at bridging excellence in sustaining business entities, so please STOP this castigating comments and look on the bright side. Who says Ghana’s economy and the people therein are saints? By co-existing with one another, the two countries and indeed other counterparts can learn a thing or two from business transactions. Be upwardly optimistic my Brother. God bless you.
it is gud for my uncle to invest at nigeria