Government has unveiled a comprehensive financial and operational restructuring plan to reposition GIHOC Distilleries Company Limited in line with its 24-hour economy policy.

The intervention is designed to strengthen the company’s balance sheet, improve operational efficiency, and restore its competitiveness within Ghana’s beverage manufacturing industry.

The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, announced the initiative while commissioning a new fleet of vehicles to enhance the company’s distribution operations.

According to the Minister, tackling GIHOC’s structural financial liabilities and refining its operating model are critical steps toward ensuring long-term sustainability and growth.

“This investment directly addresses one of GIHOC’s most critical operational gaps — the inability to efficiently and effectively reach distribution networks and retail points across the country,” she said. “However, asset injection alone is not enough to deliver a sustainable turnaround.”

She explained that government will collaborate closely with the company’s board and management to restructure outstanding liabilities, review its business model for viability, and explore opportunities to scale up production under the 24-hour economy framework.

“GIHOC must return to profitability and demonstrate that a state enterprise can compete efficiently and effectively in a liberalised market,” she stressed, adding that the newly commissioned vehicles represent public funds and must be managed with accountability, discipline, and a clear commercial strategy.

Established in 1958 as West Africa’s first indigenous alcoholic beverage manufacturer, GIHOC holds a significant place in Ghana’s industrial history. Its range of bitters, spirits, and other beverages continues to enjoy strong brand recognition locally and in selected export markets.

Nonetheless, the Minister acknowledged that, like many state-owned enterprises, the company has faced persistent structural challenges, including limited working capital, ageing infrastructure, and weak distribution systems.

She noted that addressing these constraints forms part of a broader government agenda to revitalise productive public-sector enterprises and position them as drivers of economic growth.