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President Nana Addo Dankwa Akufo-Addo has given the Ghana National Gas Company Limited (Ghana Gas) the green light to acquire the Ghana Cylinder Manufacturing Company.
The acquisition of the company will help it acquire the necessary resources to run efficiently.
This was captured in a letter the Presidency wrote to the Managing Director of the Ghana Cylinder Manufacturing Company Limited and sighted by Citi News.
The letter signed by Nana Bediatuo Asante, Secretary to the President, on behalf of President Akufo-Addo was dated April 18, 2023.
“With reference to your correspondence dated 24th March 2023, bearing on the above-mentioned subject matter, I write to inform you that the President of the Republic has granted approval for the acquisition of Ghana Cylinder Manufacturing Company Limited (GCMC) by the Ghana National Gas Company (GNGC),” parts of the letter read.
The cylinder manufacturing company which has been in existence for over 20 years has been struggling to run efficiently for years due to alleged mismanagement by previous managers.
The 2020 Report on State-Owned Enterprises in Ghana captured the Ghana Cylinder Manufacturing Company as one of the lowest-performing entities.
Source:NKONKONSA.com
