Business

AGI raises alarm over unhealthy rivalry among local businesses

Mrs Gyamfua Owusu Achaw

The Association of Ghana Industries (AGI) has expressed worry over what it says is the emergence of unhealthy competition in the industrial sector, which it said could kill local businesses.

Chairperson of the Ashanti/Brong Ahafo branch of the Association, Mrs. Gyamfua Owusu Achaw, observed the fear of competition is making some local industrialists adopt unhealthy campaign to kill other local competitors.

“In one of AGI’s exhibition, a member from a sister body walked to a competitor’s shed and told a prospective buyer that, the product wasn’t good” she recalled.

She recounted the recent case between Angel Group of Companies (producers of Adonko Bitters) and the Food and Drugs Authority as a matter that led to a ban of the product and a GH¢25, 000 administrative fine against the manufacturer.

To her, the FDA ought to have banned the manufacturer from organising events and not the product, saying “The FDA could have banned Angel Group of Companies for organising programmes”.

On Monday April 17,2017 Angel Group of Companies held a programme at the Baba Yara Sports Stadium dubbed: “Adonko Aseda Concert.”

Hundreds of revellers mostly youth went on a boozing spree with some passing out. Each participant at the event was given a free bottle of the alcoholic drink for each ticket purchased.

The all night event saw some heavily intoxicated revellers and it was also alleged that some were hospitalised for drinking beyond the limit, prompting the FDA to act.

The ban has since May 12, 2017, been lifted after investigations exonerated the company of any wrongdoing.

But the AGI chairperson argued the initial action taken against the manufacturer by the FDA was rushed, adding “The FDA could have contacted the AGI.”

To her, most of the alarming stories surrounding the aftermath of the concert were mere concoction: “They said people were hospitalised, but I visited about four hospital and didn’t find one” she stated.

Mrs. Owusu Achaw advised local industrialists to adhere to healthy competition in order not to blot the sector.

“In this era of unhealthy competition, if you don’t actually take care you may collapse a firm which has not faulted in a way to merit sanctions,” she stated.

Industrialized economy
On the issue of the government’s plan to industrialise the local economy with its ‘One District, One Factory project’, Mrs. Gyamfua said the ban on importation of some medicines by the government is an indication of commitment:

“Every country thrives on industry. If the government encourages the pharmaceutical companies to upscale production, they will in turn employ more people” she noted.

By William Evans-Nkum|TV3|3news.com|Ghana

Leave a comment below

Show More

Related Articles

Leave a Reply

Your email address will not be published.

Close