Unilever’s Ghana business gets back on a path of sustained growth

“The company also recorded a turnover of GH¢242-million (US$22-million) in the first quarter while its net cash reserves also recovered from a negative position.”

Unilever Ghana has a stable of popular brands – including Key Soap, Omo, Lux, Geisha, Frytol, Royco, Knorr, Pepsodent, Close-Up, Sunsilk and Annapurna.

Speaking at a recent media event, the Managing Director of Unilever Ghana, George Owusu-Ansah, said the bottom line had been impacted by Covid-19, but revised business strategies and strong customer loyalty had helped to turn the situation around.

“In full recognition of the times we are in, [there] is a continuous focus on our cost and making sure that we are taking out waste and reducing cost so that we don’t burden [consumers] with cost that does not give them any value at all,” he is quoted as saying by the publication Food Business Africa.

Depend on prudent management practices

“As a company, we pledge to continue to depend on our prudent management practices and the full cooperation of staff and distributors to achieve the dream.”

Owusu-Ansah also pledged that Unilever Ghana would continue to work towards a fairer and more socially inclusive world.

The company would help equip 10,000 young people with essential skills by the end of the year, help about 500 small and medium-scale enterprises to grow their business by 2025, and spend US$54,000 annually on diverse businesses by 2025.

From a global perspective, Unilever achieved a strong 2023 first quarter. Results published in April showed a 7% increase in turnover compared to 2022, a 10.5% increase in underlying sales growth, and a 10.7% increase in price growth. 

The brands Omo, Hellmann’s, Rexona and Lux produced particularly strong performances.

“Unilever has had a good start to the year, delivering another quarter of strong top line growth. We remain focused on navigating through continued macro-economic uncertainty and are confident in our ability to deliver another year of strong growth, which remains our first priority,” Chief Executive Officer, Alan Jope, said at the time.