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Business News of Monday, 7 May 2018


Ghana's economy is improving - Voltic Ghana Limited Marketing Manager

Voltic Ghana Limited Country Manager, Raymond Mensah Gbetivi play videoVoltic Ghana Limited Country Manager, Raymond Mensah Gbetivi

Country Sales and Marketing Manager of Voltic Ghana Ltd, Raymond Mensah Gbetivi has lauded the government for its work so far in creating a favourable environment for business growth.

The growing GDP, declining inflation and rising income levels, according to Mr. Gbetivi are indicators of an improving economy.

He noted, that the improvement would attract more investment into the economy and cause businesses to expand and SME’s to grow.

Voltic Ghana, he observed has also been on the benefitting end of the improved economy as the company has witnessed a steady growth in the last 5 years.

Over $26 million has been invested into the business since 2013 with the first quarter of 2018 already recording a $2.2 million investment and $11 million recorded in 2017.

The economic growth, Mr. Gbetivi believes would place customers in the better position to purchase products and have disposable income to expend on a lot more items.

“As business you don’t have business you do not have customers, you don’t have consumers, you don’t have people with disposable income so if the economy is growing, inflation is going down it gives the opportunity for people to invest more in their businesses, like our wholesalers and retailers and therefore they can buy more from us. As business we can also invest more, expand more because we know there is a market for our product. Clearly improving economic growth will favour our business development and expansion,” Mr. Gbetivi disclosed.

“You’ve seen the indicators, they are all pointing in the right direction. GDP is growing, income level is also growing by the day so clearly, these are positive signs that the economy is improving. Over the last few years we made $26 million into our Voltic business and just last year we made $11 million and for this quarter alone, we made $2.2 million” he explained.

Power supply

Voltic Ghana Ltd.’s Sales and Marketing Manager was however concerned about the erratic and unreliable supply of electricity to rural communities.
He bemoaned that the situation is negatively affecting businesses in rural areas and urged government to take urgent measures to address that as it increases cost of production and reduces profit margin.

Raymond Gbetivi was however excited about the government’s move to reduce the tariffs as it was a major stumbling block for rural enterprises to develop.

“The need for reliable power source cannot be underestimated. The point I that industry relies on energy and if you don’t have that there is no way you can grow your industry and it is where we get majority of the employment from. So it is really critical if you want to grow the economy. The challenge is when you are cited in the rural areas where power supply is a challenge whether you have power not stable or low current, there is no way we can run your machines well. If you have fluctuations your machine gets damaged and you need to spend a lot of money to improve that. So poor power supply, unreliable power supply is a bane on the industry. We want to trust government, that utility particularly electricity will be coming down,” he stressed.

Raymond Gbetivi made these remarks during a press interaction and tour of the Voltic Ghana premises by some media personnel.

Voltic Ghana limited, a subsidiary of Coca-Cola Beverages Africa has introduced a wide range of products making them a total beverage company.

The addition of alcoholic and non-alcoholic brands like Compari, Happy Hour, Hollandia and Evap Milk, according to Raymond Gbetivi, is in response to the increasing demand and request of customers.