One of Ghana’s leading indigenous manufacturers in alcoholic and non-alcoholic beverages, Kasapreko Company Limited, has declared its readiness to capitalize on the incentives the African Continental Free Trade Area has introduced, to produce more for consumers within the continent, outside of Ghana.
Kasapreko is one of the first companies to have registered and exported to a party state under the AfCFTA arrangement after implementation began on the 1st January 2021. It registered and exported its chief product, Alomo Bitters to South Africa, which is a party state and has ratified the AfCFTA.
Speaking on Eye on Port on the Implementation Processes of AfCFTA Trading in Ghana, the Director in Charge of International Business Development at Kasapreko Company Limited, Francis Holly Adzah said the incentives presented by the Free Trade Agreement means clients and importers in party states of products originating from Africa, and for that matter, of Kasapreko products will be motivated to buy more due to the duty reliefs.
“When you go to some countries you need to pay the duties on litres which is very huge. Now, it will go down, and distributors would use those funds that they would initially pay duty with, to invest and bring in more products and that is a plus for us,” he explained. He said because of that, Kasapreko has shored up its infrastructure and machinery to meet up with the increase in demand that the AfCFTA has presented.
The Director in Charge of International Business Development at Kasapreko Company Limited indicated that due to the incentives provided by the AfCFTA, cost of production would see a reduction, and that would have a trickledown effect on prices on shelves, around the continent.
Mr. Adzah said Kasapreko is well aware of the stiff competition competitors around the continent will pose, however his outfit is confident in the uniqueness of its products, and has accepted the challenge to compete. “Alomo is just one of our unique products that meet specific points of need for our consumers. Competition is good and we are well positioned by our packaging, infrastructure to meet the demands of the huge market,” he argued.
He said the indigenous beverage making industry currently exports to 14 African countries and is looking forward to take advantage of the boost given by the Continental Free Market to penetrate the other countries among the 34 nations who have ratified the AfCFTA. He added that Kasapreko would soon follow up its initial export with other product lines of the company to wider continental market under the AfCFTA.
The Director in Charge of International Business Development at Kasapreko Company Limited also praised the smooth processes experienced during the first shipment of Alomo Bitters under the AfCFTA.
Source: Ghana Web