Hot Oven founder appeals to government to reduce taxes on wheat imports

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Economics Taxes Entrepreneur
Economics Taxes Entrepreneur

Madam Peace Amegya, Founder of Awurade Na Aye Bakery, parent company of the popular bread franchise Hot Oven, has appealed to the government to ease taxes on wheat imports to help address the increasing prices of bread.

She said the rising cost of flour had affected bread prices, which had been stable for three years.

“The price of flour has affected my business so much. I stabilised my price for about three years, and the bread was four cedis. But after 2019, it has been increasing every week,” the entrepreneur told the Ghana News Agency (GNA) in an interview.

The owner of the highly patronised brand, which has over 3,000 distributors and retailers, said she refused to compromise on quality and recipe, a decision that visibly affected sales.

“I know it is because of my recipe that is why people are buying, and I am not going to change it. I would rather increase the price. We used to cause a lot of traffic, but now not anymore.

“I will like to appeal to the government to help with the taxes imposed on the importation of wheat. It will help flour mills reduce their prices. Flour prices are going up everywhere. Gas prices are going up. Flour was 200 GHC in 2020. Now it’s 640. Margarine was 150. Now it’s 775 GHC. Sugar was 120. Now it’s 750,” she said.

Madam Amegya told GNA that although there seemed no easy solution, support for local industries could help promote a successful import substitution regime.

She noted how investors at several fora and conferences had expressed willingness to come invest in the country and hoped the current global dark clouds would clear.

Madam Amegya began the Awurade Na Aye bakery in the year 2002 in the gold mining centre of Obuasi in the Ashanti Region.

“I started with half bag of floor. It grew from one bag to 100 bags a day in Obuasi. Patronage was good and I bought land in Tema.”

The mega bakery in Tema was completed in 2017 and has successfully channeled the nation’s wholesale bread production to the port and industrial city.

The entrepreneur, who had chaired the thanksgiving ceremony of the 175th anniversary celebrations of the Evangelical Presbyterian Church (EPC) on the day of the engagement, offered some advice to people grappling at the world of business.

“In everything, when you do it well, it will go up. Food for people should be done well. I normally use quality things to prepare the bread. Because of the global crisis, people don’t make quality bread, but for me you have to maintain your recipe”.

In her closing remarks as chairperson, she alluded her success to her faith in God.

“Let’s be smart- lets trust God. If you trust him, he will use you. The God that I trusted brought me where I am. Let’s be smart and trust God”.

Madam Amegya, who had singlehandedly constructed a church building for the EP church in Obuasi, supported the construction of a commemorative conference hall complex, with GHC 20,000.

Former President John Dramani Mahama, who was guest of honor, also gave 25,000 on behalf of the National Democratic Congress and announced a support package of 1000 bags of cement form his brother, businessman Ibrahim Mahama.

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