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Business News of Friday, 17 June 2016

Source: Kasapa FM

Komenda Sugar Factory – Branding potential debated

Ghana wants to take steps to make the country less dependent in the commodities business.

Economists have predicted that the country ought to build a diversified and viable export trade sector that will rake in more foreign earnings and create much needed jobs for the people.

Ghana’s economy is one that commodity exports is always lurking in the background with less pursuit of aggressive programmes capable of making the export sector attractive to the international market.

Ghana’s main exports are gold, cocoa beans and timber products. Others include aluminum, manganese ore, diamonds and horticulture. But that is yet to push the economy where commodities exports will play an important role in the successes of the country.

Nonetheless the coming on stream of the $35million Komenda Sugar Factory is expected to prop up the local market and also contribute in boosting the country’s trade balance in forex in the international market.

Ghana’s annual sugar requirement is estimated at close to four hundred thousand tonnes. Mr. Mahama has said the new factory will not “only diverse our economy” but will enhance export business while moving Ghana into self-dependence.

This can only stand the test of time, if the product from the facility will be a strong and compelling brand to even attract the local market and largely in the Europe.

With less than two months in commercial operations, there have been early days conversation on social media platforms on a supposed sugar brand allegedly produced by the rejuvenated Komenda Sugar Factory.

Ghanaians have expressed misgivings about how the said product will fair on the local market let alone on the international market.

The concerns have shifted from whether the quality of the product will satisfy the market or not, rather the much held views of many Ghanaians on social media platforms have been the packaging of the product and how attractive it meets the eyeballs.

This website, brings the conversation on this platform to elicit the views of our cherished readers on the Komenda Sugar Factory’s new product.

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