Phasing out tariffs on 90% of goods and creating the world’s largest free trade area, AfCFTA promises to rake in enormous revenue, business growth and success to all companies who can effectively take advantage of its unique opportunity.
That being said, some companies have recognized this enormous benefit that AfCFTA in Ghana has to offer and are in the process of shooting beyond the stars that may further the envy of their competitors.
Meet the two Ghanaian companies taking AfCFTA by the horn. They are Kasapreko and Ghandour Cosmetics.
AfCFTA in Ghana: Kasapreko
Kasapreko, a leading and successful alcoholic and non- alcoholic beverage producer in Ghana has made tremendous strides in achieving business success not just locally but internationally.
Started in a garage by businessman Dr. Kwabena Adjei in 1989 at Nungua, Kasapreko has grown into a state-of-the-art automated factory located off the Spintex road. Despite its exponential growth over the years, Kasapreko is still hungry for continuous growth and success. Its mission to “be a multinational company creating lasting value for our stakeholders by producing diversified alcoholic and non-alcoholic beverages from herbal and other traditional blends using first class technology,” never seems to be at an end but forward going.
Kasapreko has thus taken the AfCFTA bull by the horn by exporting a 20-footer container of alcoholic beverages to South Africa by air.
AfCFTA in Ghana: Cosmetics
Ghandour Cosmetics was established by Tanal Ghandour and his brothers in 1996 at Abossey Okai in Accra. It manufactures, and sells hair and skin care products in West Africa, and has indeed fulfilled its mission.
Ghandour Cosmetics has provided a superior range of skin and hair care products in West Africa for the past 15 years, with its Accra base employing over 600 Ghanaians. The company has wide spread operations across Africa.. These include: Togo, Mali, Burkina Faso, Benin, Gambia, Tanzania, Nigeria, Ivory Coast, among others.
With its aim of expanding further in the region, Ghandour Cosmetics is leaving no stone unturned and thus capitalizing on AfCFTA. Ghandour Cosmetics has shipped a 20-footer container of cosmetic products to Guinea by sea last month.
In a news item monitored by Ghana Talks Business, Dr Fareed Arthur, a Senior Technical Advisor at the (Ghana) National AfCFTA Coordination Office, said his outfit aided the two companies to meet the necessary requirements for the maiden shipment of their consignments.
“Two different consignments with the needed documentations and processes have already been exported to test Ghana’s readiness under the initiative. It was also used to assess the forms and format of documentations to accompany consignments,” Dr. Fareed Arthur said.
AfCFTA in Ghana: The requirements
According to Dr. Fareed Arthur, to trade under the AfCFTA initiative, a company needs a Certificate of Origin issued by a competent authority, such as the Customs Division of the Ghana Revenue Authority (GRA).
In the case of Kasapreko and Ghandour Cosmetics, the Certificate of Origin accompanied the consignment to help the authorities of the receiving country determine whether or not the goods were from a member country under the agreement.
The Certificate of Origin is also to ensure that the goods or products shipped meet the necessary requirements under the agreement.