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Border Closure: Ghanaian Alomo Bitters manufacturer loses about $2m

By Rasheed Sobowale

Kasapreko Company Limited, is the manufacturer of Alomo Bitters, a beverage widely consumed by Nigerians. The company is also Ghana’s largest local beverage manufacturer. It has lost about $2 million in revenue following the border closure by the Nigeria government.

Border Closure: Ghanaian Alomo Bitters manufacturer loses about $2m
Trucks of Kasapreko. PHOTO: Marcopolis Net/YouTube.

This was made known by Francis Holly Adzah, Kasapreko’s Head of International Business Development when he stated in an interview with a Ghanaian news website, JoyBusiness that they have lost about $2 million in revenue following the action of the Federal Government of Nigeria to close borders with neighbouring countries.

The beverage company according to the report was able to transport three trucks before the border closure. But now, the company has exhausted its products in the Nigerian market.

“[We] managed to send in three trucks of products to the Nigerian market moments before the border was closed,” Adzah said.

Four other trucks loaded with products, one at the border and the others at the premises of the manufacturing company, have been left grounded due to the border closure by Nigeria, according to report.

“In September, we lost $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,” Adzah told JoyBusiness in an exclusive interview.

The company said it has been forced to venture into other African regions like Ivory Coast, Senegal, Togo, Benin and other European markets to offset the loss incurred from the Nigerian market due to the border closure.

However, United Nations COMTRADE database on international trade in 2018 pegged Ghana’s export to Nigeria at $80.96.

Vanguard News Nigeria.

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