Ghana Gas to acquire Cylinder Manufacturing Company by April
Ghana Gas Company
The Ghana Gas Company is in the process of acquiring the Ghana Cylinder Manufacturing Company Limited, which has been facing operational challenges for some time.
Read full articleThe company recorded a loss of GHC4 million in 2021, and the Auditor General has indicated that it is financially incapable of meeting its short-term obligations.
During a Public Accounts Committee sitting in Accra, Genevieve Sackey, Managing Director of the Ghana Cylinder Manufacturing Company Limited, revealed that the acquisition is in its final stages.
The necessary documentation has been presented to the Ministry of Finance, and it is expected to be forwarded to cabinet soon.
The acquisition is anticipated to be completed by the end of the first quarter of this year.
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