Home / Knowledge / News / Textiles / Cotton processing firm on edge of collapse

Cotton processing firm on edge of collapse

13
Mar '10
The Ghana Cotton Company Limited (GCCL), which is amongst leading raw material supplier to Ghana's textile industry, is approaching closure and around 400 workers of the company are feared to lose their jobs in near future.

Also, around 367 service providers mainly of fertilizers, cotton seeds and other input suppliers may have to share the fate of those workers, as henceforth they too will not be able to supply their products to GCCL, which in turn disburses it to the farmers at subsidized rates.

GCCL still owes to its workers their three months outstanding salaries and other entitlements. Over and above this, almost 80 percent of company's tractors and other vehicles have completely worn out and the rest which are in working condition are also lying unused as according to the workers, the management is not having enough money for refuelling them.

The workers blamed the management of wasting ¢147 million (old cedis) on the renovation of a company official's dwelling, and that to when the company was passing through its worst financial crisis.

Also the management was targeted for discriminatory pay, by the aggrieved workers who claimed that few members from the management were being paid in excess of GH¢18,000, while the labourers and drivers were paid in the range of GH¢100 and GH¢150.

It was also brought to light that company's power supply was discontinued by the Volta River Authority (VRA), as the company failed to clear it's dues of about a GH¢50,000. Not only this GCCL's Northern Central Division is also indebted to the fuel suppliers for a payment of GH¢90,000.

The workers are annoyed over poor deployment of funds amounting to GH¢260,000 which were released in 2008 by the New Patriotic Party (NPP), the ex-ruling government, to aid company's operations and for enhancing cotton productivity.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Retail | On 30th Jul 2021

Great Britain vacancy rate rises to 14.5% in Q2 2021 from 14.1% in Q1

In the second quarter (Q2) of 2021, the overall Great Britain vacancy ...

Pic: Shutterstock

Textiles | On 30th Jul 2021

Prime Content| Here's why global cotton trade will rise in July-Dec 2021

Global cotton trade is expected to rise in the coming months of 2021...

Pic: Puma

Apparel/Garments | On 30th Jul 2021

German sportswear brand Puma's April-June sales escalate 96%

Puma, one of the world's leading sports brands, reported 95.8 per...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search