Parliament has granted a tax waiver in a sum of Cedi equivalent of over Twenty-Eight Million United States Dollars (US$ 28, 251,258.00) on machinery, equipment and raw material to be imported by Kasapreko Company Limited under One District One Factory Programme.
The project cost is estimated at GH¢624,262,483, involving debt and equity financing.
The promoters of the business are reported to have invested about GH¢390,262,483 and have secured a loan of GH¢234,000,000 from SG Ghana and Stanbic Bank for the purchase of plants and machinery and its related operations for the Kumasi Factory.
According to the Parliamentary Committee the establishment of the factory at Tanoso in Kumasi will provide three hundred (300) direct jobs for factory hands, administrative staff, sales executives and drivers within the five-year period.
Presently, “Kasapreko employs about 800 direct workers” and it is also envisaged to provide a potential of an estimated “one thousand eight hundred (1800) indirect jobs for distributors, retailers and small businesses who will sell the products across the country, and for individuals such as food vendors, rental house owners and commercial drivers who will provide services to the workers of the company”.
The Committee, chaired by Dr. Mark Assibey-Yeboah observed that “the instant project when implemented is expected to facilitate the timely delivery of essential beverage products for local consumption and export.
It is also expected to boost the local economy and provide job opportunities for the people of this country”.
Kasapreko Company Limited (KCL) is one of the leading and most successful total beverage products manufacturers in Ghana.
The Company is a registered Ghanaian private limited liability company under the Company laws of Ghana which produces carbonated and non-carbonated soft drinks, water, bitters, whisky, gin, liqueur, brandy and wine and also engages in general farming activities.
The company wants to expand its operations under the One District One Factory (1D1F) initiative to meet market demand.
In pursuance of this vision, the Company has acquired and renovated the abandoned Paramount Distilleries factory, previously owned by GIHOC at Tanoso in Kumasi.
The operationalization of the factory will enable the company to increase its current production capacity, grow sales and satisfy market demand in the Middle Belt and Northern Sector of the country as well as in the Export Market with high prospects for growth and profitability.
Story filed by Edzorna Francis Mensah
