In the face of ballooning debts and operational decline, the Ghana Industrial Holding Corporation (GIHOC) is embarking on an ambitious revival agenda aimed at restoring its position as a leading player in the beverage industry.
At a press briefing and tour of the Accra-based facility, newly appointed Chief Executive Officer, Mr. Jones Borteye Applerh, painted a candid picture of the corporation’s steep decline, attributing its current state to outdated machinery, massive debts, and disrupted production lines.
“GIHOC must rise again,” Mr. Applerh declared, vowing to lead a strategic overhaul of the state-owned enterprise. He revealed that the company’s debt burden has surged beyond GHS 427 million, covering tax arrears, pension obligations, unsettled supplier invoices, and unpaid loans including from MASLOC.
The CEO noted that decades-old equipment—some dating as far back as 1964—now operate below 40% capacity. Inadequate raw materials had halted production for months, and flagship products had virtually disappeared from the market, he lamented.
Despite these challenges, Mr. Applerh highlighted signs of early recovery, including the procurement of 2.6 million bottles and the resolution of the ethanol shortage through a key supplier’s intervention. Additionally, he confirmed that aging machinery had been repaired and internal controls tightened.
He touted the full resumption of the “G Tot” sachet line and assured that GIHOC was preparing to play an active role in the government’s flagship 24-hour economy policy.
Laying out a phased roadmap, the CEO said GIHOC’s short-term goal is stabilisation—anchored on full financial audits, cost-cutting, and renegotiation with key stakeholders like GRA, SSNIT, MASLOC, and banks.
In the medium term, the focus will shift to growth, including infrastructure upgrades, rebranding of products like Takai and Sorento Wine, and the revival of the Kumasi bottled water plant, along with plans to re-enter the ECOWAS market.
Looking further ahead, Mr. Applerh outlined a long-term vision that includes building an ultra-modern facility in the Volta Region, reviving the defunct Aboso Glass Factory to secure local bottle supply, and establishing a dedicated logistics fleet and warehouse system.
He stressed that GIHOC’s rebirth will be grounded in transparency, meritocracy, and a commitment to youth and gender inclusion—fully aligned with the national RESET Agenda and broader industrialisation goals.
With renewed leadership, Mr. Applerh believes GIHOC can reclaim its industrial legacy: “We will restore its glory, return to profitability, and shape a future where GIHOC doesn’t just survive—but thrives.”
