Rather, Kasapreko, which is one of the few successful family businesses in the country, says it would remain a family venture where the business would be owned and passed on from one generation to another.
The Deputy Managing Director of Kasapreko, Mr Kojo Nunoo, said the company did not also intend floating its shares on the Ghana Stock Exchange (GSE) any time soon.
“I think the philosophy of this company, apart from the herbal stuff, is to be self-reliant as much as possible. That is organic growth and so there is a lot of plough back into the business, and because of that you have shareholders continually investing in the business. By and large, that is how we have carried our expansions,” Mr Nunoo said in an interview.
“Yes, there have been times when we have taled to the banks for support but it has been on the interim, not for funding long-term projects,” he added.
Mr Nunoo was speaking to the paper on the way forward for Kasapreko, which was founded in 1989 as a family business which specialises in the distillery and sale of assorted bitters using herbs that have health benefits.
Its flagship product, Alomo Bitters, is currently in high demand in the country, as well as in the sub-region, Europe, America and Canada.
Given the increasing demand for its products and the investments needed to meet that demand, many experts have advocated the listing of the company on the Ghana Stock Exchange (GSE) to, at least, raise fresh capital for expansion, while sharing its prospects with the investing public.
The Deputy Managing Director of the company, however, said listing the company was not an option on its cards, at least, not in the next few years.
“Given our current position, we are able to grow organically. Not only that; this is a closely held family business and I don’t foresee it going public in the near future. Rather, I see it remaining as a family-held business which will be passed on from generation to generation,” Mr Nunoo said.
Expectations in 2014
Kasapreko, currently, has over 15 herb-fused drinks it retails in the country and abroad, and Mr Nunoo said plans were underway to add new brands to the existing one.
“This year is an exciting year for Kasapreko because there are two key directions that we are moving; product and market development. So you should see more products on the market, almost all of them being fused with our local herbs, and you should see us enter new markets to bring in more dollars to stabilise the cedi,” Mr Nunoo said.
The company made US$19.46 million in export revenues in 2012 and is now working at growing that figure as it makes attempts to penetrate new markets.
Source Graphic Business