Mr. Aboagye (second from right) flanked by Prof. Amoako (right) Mr. Agdjei-Baah ( second from left) and Alhaji Sorogho, leading the discussions with the IFFCO officials
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22nd June, 2010
IFFCO Expresses Interest In Expanding Operations In Ghana
The International Foodstuffs Company (IFFCO), a United Arab Emirates based international group which manufactures and markets a well-integrated range of mass-market food products, related derivatives, intermediates and services, has expressed interest in expanding its operations in Ghana, one-and-half years after establishing an office in the country.
Currently, the IFFCO Ghana office markets finished products like soap, edible oil, biscuits and other fast moving consumer goods in Ghana and its neighbouring countries.
However, with the conducive business environment existing in Ghana, the IFFC looks too ready to go into partnership with investors in Ghana to increase its production and market in West Africa.
This came to light when an investment promotion team from Ghana led by Mr. George Aboagye, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), met with the top executives of the IFFCO in Dubai.
The team also toured IFFCO’s consumer goods factory located at the Emirates Port to have a look at its operations.
The Ghanaian team includes Alhaji Amadu Bukari Sorogho, M.P. for Madina/Abokobi and Chairman of Parliamentary Select Committee on Trade, Industry and Tourism, Mr. Seth Adjei-Baah, M.P. for Nkawkaw and Vice President of Ghana National Chamber of Commerce and Industry (GNCCI), Prof. Samuel Kwadwo Amoako, M.P. for Akim Abuakwa North, Mr. Ahmed Hassan, Ghana’s ambassador to Iran, Mr. Joseph Siaw Agyepong, Managing Director of Zoomlion Limited, Mrs. Patience Agbleze Acorlor, Ag. Duputy Executive Secretary of Ghana Free Zones Board (GFZB) and some members of GNCCI.
The team’s discussion with IFFCO centred around the company’s interest in establishing a manufacturing company in Ghana to specialize in the production of food, beverage, personal care and cleaning products.
Mr. Rizwan Ahmed, Managing Director of IFFCO’s Global Oils, Fats & Soaps Business, said initially the IFFCO’s policy was to export its products to Ghana and its environs to market them but after critically studing the market, the group is too willing to set up a manufacturing company in Ghana to meet its market demand in the sub region.
He said IFFCO sees Ghana as the golden gateway to safe and stable investment in West Africa due to its political stability, growing economy and location of the country.
Mr. Aboagye said, when embarking on the expansion of its operations, IFFCO should consider sectors like meat processing, cocoa processing, oil seeds production and the manufacturing of biscuits, which he described as very lucrative and profitable ventures in Ghana.
He said Ghana will cooperate with and facilitate IFFCO’s business expansion drive in the country to create jobs for the people and boost the economy as well.
Alhaji Sorogho said a critical incentive to investment in Ghana is the fact that the country can boast of a stable macro-economic, competitive corporate tax rates, fast developing financial infrastructure and services and abundant supply of skilled labour.
He also said that Ghana has a transparent democracy and respect for the rule of law that gives recognition and protection to private property and private enterprise.
Pix 100_0810.JPG: Mr. Aboagye(second from right), flanked by Prof. Amoako(right), Mr. Adjei-Baah(second from left) and Alhaji Sorogho, leading the discussion with the IFFCO officials.
Currently, the IFFCO Ghana office markets finished products like soap, edible oil, biscuits and other fast moving consumer goods in Ghana and its neighbouring countries.
However, with the conducive business environment existing in Ghana, the IFFC looks too ready to go into partnership with investors in Ghana to increase its production and market in West Africa.
This came to light when an investment promotion team from Ghana led by Mr. George Aboagye, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), met with the top executives of the IFFCO in Dubai.
The team also toured IFFCO’s consumer goods factory located at the Emirates Port to have a look at its operations.
The Ghanaian team includes Alhaji Amadu Bukari Sorogho, M.P. for Madina/Abokobi and Chairman of Parliamentary Select Committee on Trade, Industry and Tourism, Mr. Seth Adjei-Baah, M.P. for Nkawkaw and Vice President of Ghana National Chamber of Commerce and Industry (GNCCI), Prof. Samuel Kwadwo Amoako, M.P. for Akim Abuakwa North, Mr. Ahmed Hassan, Ghana’s ambassador to Iran, Mr. Joseph Siaw Agyepong, Managing Director of Zoomlion Limited, Mrs. Patience Agbleze Acorlor, Ag. Duputy Executive Secretary of Ghana Free Zones Board (GFZB) and some members of GNCCI.
The team’s discussion with IFFCO centred around the company’s interest in establishing a manufacturing company in Ghana to specialize in the production of food, beverage, personal care and cleaning products.
Mr. Rizwan Ahmed, Managing Director of IFFCO’s Global Oils, Fats & Soaps Business, said initially the IFFCO’s policy was to export its products to Ghana and its environs to market them but after critically studing the market, the group is too willing to set up a manufacturing company in Ghana to meet its market demand in the sub region.
He said IFFCO sees Ghana as the golden gateway to safe and stable investment in West Africa due to its political stability, growing economy and location of the country.
Mr. Aboagye said, when embarking on the expansion of its operations, IFFCO should consider sectors like meat processing, cocoa processing, oil seeds production and the manufacturing of biscuits, which he described as very lucrative and profitable ventures in Ghana.
He said Ghana will cooperate with and facilitate IFFCO’s business expansion drive in the country to create jobs for the people and boost the economy as well.
Alhaji Sorogho said a critical incentive to investment in Ghana is the fact that the country can boast of a stable macro-economic, competitive corporate tax rates, fast developing financial infrastructure and services and abundant supply of skilled labour.
He also said that Ghana has a transparent democracy and respect for the rule of law that gives recognition and protection to private property and private enterprise.
Pix 100_0810.JPG: Mr. Aboagye(second from right), flanked by Prof. Amoako(right), Mr. Adjei-Baah(second from left) and Alhaji Sorogho, leading the discussion with the IFFCO officials.
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