Ghana: Guinness achieves robust financial performance

After its most recent economic year, Guinness Ghana marked a historic milestone by achieving its strongest financial performance in supposed terms in history.
This achievement is particularly noteworthy given the current economic challenges, including those that have specifically affected manufacturers.
Managing Director Helene Weesie, during the ‘Facts Behind the Figures’ session hosted by the Ghana Stock Exchange (GSE), openly recognized the inconveniences posed by inflation, persistent rises in input costs, and the devaluation of the local currency during the first half of the year.
“Starting in November, we took decisive steps to counteract the FX effects, combat inflation, and reduce costs. Concurrently, we remained committed to investing in our priority brands. This strategic shift led us to a year-end result characterized by double-digit revenue growth and sustained volumes. While H1 presented hurdles, a robust H2 propelled us to deliver our best year ever for Guinness Ghana,” she stated.
She emphasized the creation of a robust foundation to navigate the current challenging economic environment. She expressed her pride in the team’s resilience, adaptability, and creativity in adjusting processes and crafting inventive solutions. Additionally, she emphasized the increasing brand equity as evidence of the brand’s enduring worth.
“We have truly embodied our Guinness Ghana motto, ‘Yes we can,’ in real-time,” she added. The MD stressed the company’s resilience in the face of unprecedented economic challenges. She noted that Guinness Ghana not only experienced the storm, but also emerged with increased market share, growing brand equity, and highly engaged employees, demonstrating a robust foundation for the future.
Corporate Relations Director, Sylvia Owusu-Ankomah, underscored the company’s dedication to community engagement nationwide. The company’s Environmental, Social, and Governance (ESG) action plan is geared towards fostering a more inclusive and sustainable world. This plan places a premium on promoting responsible drinking, championing inclusion and diversity, and ensuring sustainability at every stage of the supply chain.
“We consciously provided clean water access to over 11,000 community members in the Pusiga and Jirapa assemblies, spearheaded a national plastic collection campaign for recycling, supported farmers to bolster our sorghum and maize value chain, and educated more than 20,000 young individuals on the consequences of underage drinking. Our emphasis on diversity and inclusion particularly in promoting gender equity across our operations and involving women as beneficiaries of our community programmes, continues to drive our sustainability efforts,” she explained.

Source:bftonline.com