Beverage giant, Nestle says it has already begun increasing prices of its products in line with the cedi’s depreciation.
The local currency has gone down by a little over 20 percent in value against the dollar from January to date. One needs about 4 Ghana cedis 9 pesewas to get a dollar from a commercial bank.
For businesses such as Nestle, it has been forced to cough out more Ghana cedis to import the same quantity of inputs for production.
Speaking at the launch of Nestle Nutrifill, a ready to eat cereal, Country Manager of Nestle Freda Duplan says they are doing their best to ensure that the situation does not affect them badly.
She however adds that despite the current challenging business environment they do not have any intention to lay off workers.
The whole grains are excellent sources of fibre, vitamins and minerals, and surveys show that diets around the world do not contain enough and the Milo Nutrifill is to help tackle this problem.
The new product, made of maize, malt and cocoa, is also rich in iron and a source of vitamins A, C and Calcium to help reduce the risk of under-nutrition, in particular among children.
Speaking at the launch, the Country Manager Mrs. Freda Y. Duplan said: “We want to encourage better nutrition at breakfast time. Research has demonstrated that breakfast supplies the body with essential nutrients necessary for brain function and can result in generally improved nutrition, providing important nutrients and helping children perform better in school”.
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