Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,800,181 members, 6,692,740 topics. Date: Wednesday, 26 January 2022 at 09:44 AM

Border Closure: Kasapreko Company limited Loses Millions Of Dollars - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Border Closure: Kasapreko Company limited Loses Millions Of Dollars (42152 Views)

Panic As Bitcoin Crashes, Swallows Millions Of Pounds In Cryptocurrency Markets / CBN Okays Withdrawals Of Dollars From Domiciliary Accounts / Despite Nigeria Border Closure, Benin Republic Maintains Strong Economy - IMF (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)

Border Closure: Kasapreko Company limited Loses Millions Of Dollars by soloenzo(m): 8:26pm On Oct 22, 2019
The Ghanaian Alomo Bitters Manufactured by Kasapreko Company limited through its Head of International Business Development Mr Francis Adzah told joybusiness a Ghanaian news platform how the federal government of Nigeria border closure action have halted its businesses as Nigeria is the Company's largest market.

He went further to say that more than a total of $2m has been lost since the border closure. Remember how the president Buhari's administration had closed the borders in August, against neighbouring African countries with the claim of checkmating the illegal activities which have to do with Smuggling of weapons, drugs and the huge lost of revenue from import and export tariffs through the activities of smuggling of food items into the country through the various borders most especially, Seme and Idiroko borders.

Kasapreko Company Limited, is the manufacturer of Alomo Bitters, a beverage widely consumed by Nigerians. The company is also Ghana’s largest local beverage manufacturer.

The beverage company according to report was able to transport three trucks before the border closure. But now, the company has exhausted its products in the Nigerian market according to Ghanain news website, JoyBusiness report.

Explaining the situation further, Mr Adzah said “We managed to send in three trucks of products to the Nigerian market moments before the border was closed.”

Mr Adzah Complained further that “In September, the company 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,” he said.

Mr Adzah said the company has been forced to try doing business with other African countries such as Cote d'voire, Senegal, Togo, Benin and other European markets to offset the loss incurred from the Nigerian market due to the border closure.

The Ghanaian products, along with Benin and Niger goods enjoy a very large sales in the Nigeria market as a result of the population and better economic situations compare to that of her neighbouring countries.


https://ngg.ng/2019/10/22/border-closure-producers-of-alomo-bitters-loses-millions-of-dollars/

1 Like

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by amadiwati(m): 8:35pm On Oct 22, 2019
Have talks with the Nigerian government. Set your industry here.

331 Likes 14 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by saintokwuluora(m): 8:50pm On Oct 22, 2019
Nigeria forming China and America put together.

225 Likes 15 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by rexchazy(m): 8:51pm On Oct 22, 2019
I support Buhari here. I just wish South AFRICA is as close to us as Ghana..ena go learn. Nigeria is ur biggest market and yet u treat Nigerians with disdain. Na still One million Dollars ena lose ena go shout down very soon. It tell we grow Nigeria by buying Nigeria

237 Likes 10 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Wigetsolar: 9:46pm On Oct 22, 2019
Adonko and co grin

45 Likes 4 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Zinoly: 10:18pm On Oct 22, 2019
Simple..... relocate to Nigeria

181 Likes 6 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by beelon1020(m): 4:37am On Oct 23, 2019
[i][/i]last last you go move to 9ja ni...

34 Likes 5 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by iCauseTrouble: 6:37am On Oct 23, 2019
Ask Alomo, the truth is bitter shocked

387 Likes 23 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by SamuelAnyawu(m): 6:38am On Oct 23, 2019
embarassed Open your factory here in Nigeria

138 Likes 8 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by realestniggah: 6:38am On Oct 23, 2019
All of these countries better gather round and go beg buhari

20 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Afamed: 6:38am On Oct 23, 2019
saintokwuluora:
Nigeria forming China and America put together.
Na so now.You use what you have to get what you want

58 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by tommykiwi(m): 6:38am On Oct 23, 2019
Na Agberos DAT one go affect pass, na their brand.

54 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by david22uu(m): 6:39am On Oct 23, 2019
for once i am an IGBO man and i stand with Buhari with this border closure. If they cannot setup here, they should follow the right path

169 Likes 7 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by aspabay(m): 6:39am On Oct 23, 2019
He should just send via the sea port.

43 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by funmike83(f): 6:39am On Oct 23, 2019
These are part of why the country is not growing, they should go through the normal route or someone in Nigeria should be doing idanre bitters

85 Likes 4 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Resurgent2016: 6:39am On Oct 23, 2019
Hope PMB realises that these companies suffering from the border closure will have less or no tax to pay arising from losses being incurred?

1 Like 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Lagbaja01(m): 6:39am On Oct 23, 2019
Good riddance to bad rubbish

10 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by aspabay(m): 6:39am On Oct 23, 2019
All these people use legitimate business to smuggle illegitimate items.

They can go and use the ports.

61 Likes 4 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by SeunStats(m): 6:39am On Oct 23, 2019
Bring Back Alomo oo, I can't Bleep without it ooo

8 Likes

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by aspabay(m): 6:40am On Oct 23, 2019
They have been taking advantage of the West African trade agreements to defraud Nigeria.

66 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Nobody: 6:40am On Oct 23, 2019
Let them look for another market.

5 Likes

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Nobody: 6:41am On Oct 23, 2019
Seriously No where you won't find this Alemo Bitters in Nigeria.

Anyone that drinks Alemo Bitters and smiles is capable of killing.

I wonder what they use.

Back to the topic.
Just have your company here in Nigeria to avoid border closure and make your money.

Alemo Bitters and Sprite is a great combination
LA Casere can still go too

19 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Badonasty(m): 6:42am On Oct 23, 2019
Na 'Fire' go oose money pass

2 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by govomotors: 6:42am On Oct 23, 2019
Why is everyone crying Nigeria, Nigeria, Nigeria. Nigeria Government didn't ban you product. For security and economic benefit, the government close his border or is it a crime again to close your doors and gate.

Stop crying and start shipping your product to Nigeria through the sea port.

66 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Midas01: 6:42am On Oct 23, 2019
Good. I have never tasted any bitters before. Wonder why people like it so much.

By the way, if Nigeria is self sufficient in "bitters" they should increase taxes for all bitters coming into Nigeria.

By doing so, the company may be forced to set up a factory here if they weigh that doing so would be cost effective in relation to paying heavy taxes.

17 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by mjaylala(m): 6:42am On Oct 23, 2019
This one sweet me die..... Never bite the hands that feed you, after so much disrespect from these countries, cheesy ;Dtides turn n they can't survive.....hehe I happy die grin

22 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Yohh: 6:43am On Oct 23, 2019
Neighbouring African countries manufacture and import goods mainly for Nigerians to patronise, yet their people disrespect us..

41 Likes 1 Share

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by Afamed: 6:43am On Oct 23, 2019
Resurgent2016:
Hope PMB realises that these companies suffering from the border closure will have less or no tax to pay arising from losses being incurred?

Are they paying taxes in the first place? They have been taking the advantage of free trade zone among the Africa countries to short-changed Nigeria. The worse is most products are not even produced in all these Africa countries. They sometimes imported them into their countries paid import duty to their countries and find ways to smuggling the same goods to Nigeria.

78 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by emmaoyes(m): 6:43am On Oct 23, 2019
Lol... All this lamentation dey totori me seriously... Now feeling like the giant of Africaaa!
Their fada!

30 Likes 3 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by thundafire: 6:43am On Oct 23, 2019
Government must create a very conducive environment for any company to be set up here and not kill them with tax,dats wat developed country did and look at where dey are

9 Likes 2 Shares

Re: Border Closure: Kasapreko Company limited Loses Millions Of Dollars by MVLOX(m): 6:43am On Oct 23, 2019
now I understand why Ghana dey vex for us so.....

12 Likes

(1) (2) (3) (4) (5) (6) (7) (Reply)

India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets / Invest And Export Timber ( Kosso Wood ) And Earn Dollar Into Your Account. / 5 Businesses You Can Start With N50,000 In 2019

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 71
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.