The negative impacts of the continued closure of the Nigeria-Benin borders have continued to reverberate across the West African sub-region as businesses in Ghana and Cote d’Ivoire have started feeling the pains. The latest business to raise alarm over the closure is Kasapreko, Ghana’s largest local beverage manufacturer, which brews Alomo Bitters among other market leading brands. Officials at Kasapreko said that the company has lost about US$2 million in revenue due to the border closure.
According to the Head of International Business Development for the company, Mr. Francis Holly Adzah, this is inspite of the fact that the company was able to send three trucks of products to the Nigerian market moments before the border was closed, saying that four other trucks loaded with products – one at the border and the others at the premises of the manufacturing company – have been left grounded.
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Mr. Holly Adzah said that in September, Kasapreko lost US$1 million to the closure and in October which is almost ending, checks from the company’s finance department shows a loss of another million dollars. The situation he said is getting out of hand and very serious.
A market survey carried out by the company shows that its agents and major distributors have exhausted all its products in the Nigerian market – a critical situation which has seen them being overtaken by competitors. The company however said that to mitigate the loss, and hedge against future occurrence, the company is venturing into other ready markets apart from Nigeria to make up for the losses.
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According to Mr Holly Adzah, the company is looking at entering Ivory Coast, Senegal, Togo, Benin and other European markets.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.