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Guinness Ghana Breweries targets 70 per cent local raw materials by 2020

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Guinness Ghana Breweries (GGB) Plc has set for itself, an ambition to use more than 70 per cent of locally sourced raw materials in its production by 2020 to increase profitability for local farmers.

Mr Gavin Pike, the Managing Director of Guinness Ghana Brewery Plc said this when the Company took its turn at the ‘Facts Behind the Figures’.

The programme was organised by the Ghana Stock Exchange (GSE) to provide a platform for the meeting of Chief Executive Officers listed companies to meet with brokers, the media, institutional investors and representatives of GSE.

Mr Pike said the company had grown its commitment to resort to the use of local raw materials since 2012 when the company sourced only 12 per cent and currently sourcing a little over 50 per cent of local raw materials.

He said the concentration of the Company on the use of local raw materials had resulted in more than 25,000 farmers directly supplying grains and cereals.

He added that the ambition was in hand with the government’s ‘Planting for Food and Jobs’ policy and that the Company was proud to be part of the country’s development agenda.

Mr Pike said the company has seen significant boost in its profit margin partly because of the reliance on locally sourced raw materials.

He said opening a recent production line at Achimota doubled the capacity of Guinness to meet the demand of growing consumers of the beverage.

He said the Company also guaranteed its clients with the right people, adding that, the company also believes in investing in the community in which it operates.

Mr Pike said: “sustainability of our business and the sustainability of our performance is conditioned upon the trust and respect we have in the communities in which we operate”.

He said the company was committed to diversity, which has resulted in ensuring that management team of the company was 50 per cent each for female and male representation.

Regarding fake products on the market, the Managing Director urged consumers to be reassured that the company had laid down mechanisms to trace and deal with them.

Madam Teye Mkushi, the Finance Director of GGB Plc said the Company had made significant profit thus figures for profit before tax rose from GH¢12 million in 2017 to GH¢35 million in 2018.

She said the profit made by the Company resulted in the company declaring profit and paying dividend to shareholders for the first time in four years.

On his part, Mr Felix Addo, the Board Chairman of GGB Plc said the company under his tenure continue to ensure sustained profitability and actively engage with society.

He added that the company would continue to comply with the regulatory frameworks of the country and to ensure international best practices in its operations.

Mr Addo said the company stands by its vision to be the best consumer product Company, most efficient and respected and best performing as well as trusted brand.

Source: GNA

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