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Price increase of sachet, bottled water due to cedi depreciation – GPMA
The Ghana Plastic Manufacturers Association (GPMA) says the increase in sachet water and bottled water prices are as a result of the cedi depreciation against major currencies.
Speaking on Morning Starr with Francis Abban, President of the Ghana Plastic Manufacturers Association, Ebo Botwe indicated that the price of their raw materials has seen a marginal increase of between 20 to 30 percent on the back of the Cedi’s depreciation.
“Our raw material base is 100% import and this has seen marginal increase. The bottom line has got to do with the dollar rate. So in as much as the dollar goes high we might buy the raw but the exchange rate makes it very, very high. That aside we have also seen local content costs also skyrocketing. It is actually out of control.
“I think it should be on the laps of the government on how to stabilize the dollar. There is nothing we can do, and as business people we need to stay in business at least to break-even and therefore we will have to adjust prices as and when the dollar goes up,” Mr. Botwe stated.
He continued: “The prices of plastic have gone up marginally but the dollar a few months ago, where we were and where are we now with the dollar. It has to do much more with the foreign exchange.”
Background
Sachet water and bottled water prices are expected to go up today Monday, September 19, 2022.
The National Association of Sachet and Packaged water Producers (Naspawap) in a statement said the adjustment is to help producers cover their production costs, on the back of the increasing cost of raw materials, fuel, and the cedi’s depreciation.
Iced sachet water is to be sold at 50 pesewas, ice bottled water 500ml to be retailed at 2ghc, and iced bottled water, 750ml or medium size, also to be retailed at 3ghc.
Also a bag of sachet water, 500ml by 30, will now sell at 7ghc from the retail trucks. Mini shops will now retail a bag of sachet at 9ghc per bag.
“We appreciate the difficulties our consumers have to go through to endure these hardships. We appeal to all to bear with us.” the statement read.
Source: Starrfm.com.gh
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
