Business News of Saturday, 24 November 2018
A protest has been held at a poly bag manufacturing company at Atwima Denkyemuoso in the Ashanti Region concerning plans to close down the company, which comes under the umbrella of government’s flagship programme – One District, One Factory (1D1F).
Earlier this week, the owner of Free Falls Company – Nana Antwi Agyei Brempong II – announced plans to close down the plant due to high electricity bills that have increased production cost. The closure of the plant could result in the loss of 150 direct jobs.
The parent company has already shut down its water processing subsidiary firm in the area concerning the same reason.
Workers and people from the local area took part in the demonstration which was held on Tuesday.
Nana Antwi Agyei Brempong II, who is also the chief of Atwima, said his efforts to retain the jobs are being thwarted by personnel of the Electricity Company of Ghana (ECG).
According to him, the electricity bills of the company have suddenly jumped from GH¢5,000 to GH¢54,000 after he got one of the staff of ECG, Richard Owusu, arrested over his demand for bribe.
He indicated that the jump in electricity bills had made production at the poly bag and water processing firms “no longer financially sustainable”.
“We are absolutely devastated by this news. We don’t know how we are going to manage. Some of us have taken loans to take care of our families . . .,” one angry worker told DAILY GUIDE.
Some of the local people who joined the demonstration said the news was “absolutely devastating” for the workforce and their families.
According to them, the move, if allowed to carry through, would send “shockwaves” through an already fragile local economy.
Free Falls Company produces and supplies poly bags to pharmacies, shops, supermarkets and market women across the Ashanti and Brong Ahafo regions.