GIHOC denies withdrawing support for 24-hour economy initiative
The management of GIHOC Distilleries Company Limited has dismissed media reports suggesting that the company has withdrawn its support for the government’s 24-Hour Economy initiative.
In a statement issued in Accra, GIHOC described the reports as “grossly misleading” and a “misrepresentation” of discussions that took place between the company and the Parliamentary Select Committee on Labour and Employment on Wednesday, 15 October 2025.
“We wish to unequivocally state for the record that the said publication grossly misrepresented the discussions that took place, and also presented a narrative that neither reflects the intent, context, nor content of what was actually said at the meeting,” the statement noted.
The company clarified that at no point during the engagement did its Acting Chief Executive Officer or any member of management make comments suggesting that GIHOC had abandoned the 24-Hour Economy initiative or called for a clampdown on alcohol imports.
“For clarity and the benefit of the public, GIHOC stated that no statement was made in the manner reported. At no point did the Acting Chief Executive Officer or any member of management suggest or imply that ‘GIHOC Abandons 24-Hour Economy Initiative Over Low Demand’ or that GIHOC had ‘urged government to clamp down on alcohol imports.’ Any publication that says that is false, completely out of context, misleading and deceptive,” the statement continued.
The distillery said management’s discussions with the Committee were focused on the company’s current operations and ongoing efforts to improve efficiency and productivity.
GIHOC reiterated its commitment to the 24-Hour Economy policy, describing it as an important national initiative aimed at boosting industrial output, creating jobs and driving economic growth.
“The company is actively pursuing measures to enhance production capacity, boost competitiveness and make meaningful contributions toward the realisation of this national policy objective. GIHOC recognises the importance of a healthy and fair market environment. The company welcomes competition and variety within the beverage industry and is committed to improving its operations to recapture market share and restore its leadership position, not by exclusion, but through innovation, efficiency and quality,” the statement said.
The management reaffirmed GIHOC’s dedication to transparency, professionalism and collaboration with stakeholders, including the media, in promoting industrial growth and national development.
“We respectfully urge all media houses and commentators to seek clarification from official sources before publishing reports that may inadvertently distort public understanding or misrepresent institutional positions. GIHOC remains available to provide accurate information and context as needed,” the statement stressed.
The company also expressed appreciation to the Parliamentary Select Committee for what it described as a “constructive engagement” and reiterated its readiness to work with all partners towards industrial revitalisation and job creation.
“We trust that the media outlet concerned will, in keeping with its own high professional standards and reputation for accuracy, take immediate steps to correct the unintended misrepresentation and set the record straight for the benefit of the public,” the company added.
