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    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    BoG, CSA deepen collaboration to fight cyber threats

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    Intravenous Infusions PLC records 10% growth in profit in 2021

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

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    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Producer Price Inflation rises again to hit 33.5% in May 2022

    #CitiBusinessFestival: Garment industry needs financial support to thrive – Cyndex CEO

    Ghana tops list of countries with cheapest cost of electricity in West Africa

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Biscuit producers want prompt government’s response to petition

bycitibusinessnews
May 16, 2019
in Manufacturing, News, Top Stories
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Biscuit Manufacturers in the country are calling on the government to speed up with a response to their petition.

The petition was sent to address unfavorable competition between local and imported biscuit.

The local manufacturers complain that the development is hindering their expansion thus are not able to employ more people among others.

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Of the seven local biscuit manufacturing companies in Ghana, only five are still in business after withstanding the many challenges they face due to unfair competition from imported products.

Mass Industries Limited is a biscuit manufacturing company located in Tema.

The company, which has been in Ghana for the past twenty-five years, used to import biscuits for sale in Ghana but has since 2011, been manufacturing biscuit in Ghana.

This company produces eight varieties of biscuits including wafer biscuits.

The company also produces between 20 to 25 tons of the products.

But certain challenges such as the high electricity cost, and shortage of water continue to hamper their expansion and growth.

These notwithstanding, the Managing Director of Mass Industries Limited, Adel Shami tells me the major challenge has been the relatively lower rate charged on imported biscuits.

“One of the major challenges is the importation of biscuit at unrealistically low values. Healthy competition will drive you to better yourself, to give the consumers better product, but, only if it is a fair competition. Here we are in a situation where the accepted value of imported biscuit at customs is 0.45 dollars per kilo which is way below the realistic figure,” he lamented.

He adds that the development is creating unhealthy competition for the local manufacturing biscuit companies.

It is in the light of these constraints that a group of local manufacturers petitioned the Ministry of Trade and Industry on their plight with stiff competition from imported products such as biscuits.

“Our petition was saying that they should look at the real cost of biscuits and put a minimum value of imported biscuit to be 1.5 dollar per kilo irrespective of where it’s coming from and that will give us a fair chance to really compete,” he stressed.

Mr. Shami, however, said he is hopeful that their petition will be addressed by the end of the year to revive their operations.

He was also grateful to the government for the tax waiver on machinery for projects under the one district, one factory initiative as his company has been selected as one of the beneficiaries for that initiative.

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