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Guinness breaks silence on reported plans to close operations in Nigeria after 61 years

This is coming when manufacturers are facing tough operating environments over access to foreign exchange.

Bloomberg, in a recent report, had said Guinness Nigeria’s management complained that it was struggling to obtain dollars to pay back foreign-currency loans.

Emmanuel Difom, the company’s Finance and Strategy director, was quoted as saying:

“We want to pay off the loans but can’t at present owing to dollar shortage. “If liquidity improves, our plan is to actually pay off everything we owe on hard currency to reduce our vulnerability.

“We have sufficient cash in naira to pay off, and all we need is access to hard currency.”

Also, reports of GSK discontinuing operations in Nigeria after 51 years in the country fueled the speculations Guinness Nigeria could follow.

In a press statement signed by Guinness Nigeria management, it described the reports saying that it is planning to leave Nigeria, by some newspapers, not Legit.ng, as baseless and misleading.

The statement titled ‘Misleading and Inaccurate Publication: Guinness Nigeria PLC Is Not Shutting Down Operations, Guinness Remains Resolute and Committed to Nigeria’ notes that the reports were merely sensational.

Part of the report reads:

“The attention of the management of Guinness Nigeria Plc has been drawn to reports published by some blogs and online media platforms that wrongfully claimed the company may be shutting down operations in Nigeria, allegedly due to the impact of some reported forex losses in recent times.”

“It is important to clarify that this publication and the sensational headlines being circulated by these blogs and online media platforms are baseless and misleading. Guinness Nigeria has not made any such erroneous communication nor shared any statement that could lead to such inaccurate conclusions.

“The management of Guinness Nigeria Plc. hereby categorically states that Guinness Nigeria has no plans to shut down its operations in Nigeria, contrary to orchestrated false allegations making the rounds. We find these claims misleading and mischievous.”

The company further explained that the current FX shortages being experienced in the country are a challenge that Guinness Nigeria, like every other organisation, is trying to navigate.

It continues:

“As a company, we remain strong, stable, and will continue to deliver value to our esteemed shareholders, meeting the needs of our dear consumers, while providing opportunities to our valued employees. Guinness Nigeria strongly believes in the resilience of the Nigerian economy, and we look forward to a recovery supported by the measures being taken by both the government and the company, having a positive impact on consumers, communities, and the environment, just as we have done over the past seventy years of operations in Nigeria.

“We urge our employees, stakeholders, and members of the public to ignore any misleading publications that did not originate from Guinness Nigeria PLC.”

 

Source: legit.ng

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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