GIHOC Distilleries Company Limited
The Minister of Finance, Dr. Cassiel Ato Forson, has expressed shock over the continuous financial losses of GIHOC Distilleries Company Limited, a state-owned alcohol producer.
According to him, despite the high demand for alcoholic beverages in the country, GIHOC is still struggling to meet its targets.
Speaking at the ‘President Mahama Meets CEOs of Specified Entities’ event on Thursday, March 13, 2025, Dr. Ato Forson revealed that GIHOC Distilleries recorded a loss of GH¢25.1 million in 2022 and GH¢25.5 million in 2023, further compounding the financial woes of state-owned enterprises (SOEs).
“Mr President, this one surprises me. Even the alcohol-making company, the alcohol-making company is making losses, losses!”
To address this challenge, the minister outlined a plan to restore financial stability in SOEs.
He emphasised the need for improved leadership, operational efficiency, and corporate governance training to ensure strict regulatory compliance.
Watch the video below:
Even GIHOC, an alcohol-producing company, is operating at a loss! pic.twitter.com/ngrkqH6D0j
— Cassiel Ato Forson(PhD) (@Cassielforson) March 13, 2025
SP/MA
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