This Ghanaian company has lost about US$2m to closure of Nigeria-Benin border

Ghanaian industry
  • Nigeria closed its land borders to neighbouring countries in August.
  • This has affected countries in the sub-region.
  • Ghana’s largest local beverage manufacturer is also feeling the effect of the border closure.

The largest local beverage manufacturer in Ghana, Kasapreko, has lost about $2 million in revenue to the closure of the Nigerian border.

The Head of International Business Development for the company, Francis Holly Adzah, said the company managed to send in three trucks of products there are some more products at the border and on their premises to be exported to Nigeria.

He said even though the beverage firm “managed to send in three trucks of products to the Nigerian market moments before the border was closed, four other trucks loaded with products – one at the border and the others at the premises of the manufacturing company – have been left grounded.”

“In September, we lost US$1 million to the closure. October is almost ended and our checks show a loss of another million dollars. The situation is getting out of hand and very serious,” Mr Holly Adzah added.

He added that their checks on the Nigerian market showed that the beverage firm has exhausted all its products in the Nigerian market. He added that this is a very critical situation which if not addressed soon will have their competitors overtake them.

To resolve this, Kasapreko says it is venturing into other ready markets apart from Nigeria to make up for the losses.

Mr Holly Adzah said that the company is considering entering Ivory Coast, Senegal, Togo, Benin, and other European markets.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Rashid Abdalla's kids interrupt Citizen TV bulletin to wish him happy birthday [Video]

Rashid Abdalla's kids interrupt Citizen TV bulletin to wish him happy birthday [Video]

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022

Zuchu forced to apologize to fans after viral video raised eyebrows

Zuchu forced to apologize to fans after viral video raised eyebrows

Willy Paul wins against Diana Marua in court

Willy Paul wins against Diana Marua in court