Events

 

News Page
In This Issue...Links to the News:  February 25, 2009

Unilever Ghana outlines measures to battle economic downturn
Masahudu Ankiilu Kunateh, Ghanadot

Accra, Feb 24, Ghanadot - Unilever Ghana Limited, a leading manufacturer of food, home and personal care products in Ghana and beyond has admitted that the year 2009 will be an “unusual” year.

This is because the cost of borrowing from the banks will increase this year. Already the average inter bank lending rate is trending upwards, while the cost of imported items will increase as a result of depreciation of the cedi against the major currencies namely the dollar, pound sterling and the euro.

However, the Customer Development Director of Unilever Ghana , Mr. Kwaku Boateng, disclosed over the weekend at the 2008 key distributors awards night held in Accra that the company must pursue aggressive cost cutting measures, saying “we must see this as necessary action”.

He added that the company must be prudent in managing cash and trade debtors, stressing that they must find quick wins on cost, and any profit leakages should be sealed.

Unilever Ghana is going to use the downturn to secure a long term relationship with their retail trade by ensuring that the company sells its products at the recommended prices to the retail traders. This will guarantee their profitability and locking their loyalty to customers as well.

Mr. Boateng told the distributors that “we must return to all the brilliant basics we used to undertake at the inception of the key distributors scheme such as key distributors market visits to build the bond with the trade, careful monitoring of credit limits, prompt delivery to the trade, and customer service”.

Unilever proposes to continue to use marketing tools including key distributors and trade promotions to ensure that the company is giving the trade value for money.

In addition to this, the company will continue to bond closer with the distributors to develop and motivate them better than ever and ensure that the company goes along with them to survive the hardship of the economic downturn.

Mr. Boateng hinted that Unilever is going to guarantee the gains made last year are sustained. This is in line with this year’s theme “Guaranteeing Edge in the face of an economic downturn”. It is the company’s firm believes that it is only in sustaining edge that it can win as a team.

He reassured the teeming distributors that the economic downturn this year affects everyone including competition.. The critical thing will be our response to the unusual times. Indeed, recessions do not last forever it will end and till it does, we have a collective duty to ensure that we remain profitable.

The current situation requires financial discipline, financial prudence, and a customized response for each shopper to surmount the global economic meltdown.

In all, the company awarded 20 key distributors with certificates and prizes for keeping faith with the company.

Ghanadot
 

More news

Declare your assets within 7 days, Prez Mills directed

Accra, Feb 24, Ghanadot - The President, Prof John Evans Atta Mills has directed all government appointees to immediately declare their assets in accordance with the assets declaration instrument. ...More

Alliance for Accountable Governance welcomes States of the Nation address

Accra, Feb 23, Ghanadot - Alliance for Accountable Governance, (AFAG) a pressure group comprising some lawyers in the country has welcomed the state of the nation address delivered by the President, Prof John Evans Attah Mills.....More