News
We have lost over $2 million to Nigeria’s border closure, Alomo Bitters producers cry out
The producers of Alomo Bitters, Kasapreko Company Limited, have reportedly lost no less than $2m since Nigeria closed its land borders to imports from neighbouring countries.
Kasapreko Head of International Business Development, Francis Holly Adzah, in reports on Ghana websites, said the beverage company was able to transport three trucks to Nigeria before the border closure.
But now, the company has exhausted its products in the Nigerian market according to Ghanain news website, JoyBusiness report.
“[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.
United Nations COMTRADE database on international trade in 2018 pegged Ghana’s export to Nigeria at $80.96.
Kasapreko is also Ghana’s largest local beverage manufacturer.
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