Founder of the Progressive People’s Party (PPP), Dr. Papa Kwesi Nduom has voiced strong disapproval regarding the Castel Group’s acquisition of an 80.4% majority stake in Guinness Ghana. Dr. Nduom described the deal as a significant setback for Ghanaian entrepreneurship and a failure on the part of the state to protect its citizens’ economic interests.
Taking to Facebook on Monday, Dr. Nduom expressed his dissatisfaction, stating,
“This for me is a failure of Ghanaian entrepreneurship and the inability of our state to protect and promote our interest. And no one should dare bring in politics.”
He further lamented, “When governments over the years were collapsing Ghanaian enterprises, many of you were silent and others even cheered them on.”
The Castel Group finalized its acquisition of Diageo’s 80.4% stake in Guinness Ghana for US$81 million. With this agreement, Castel will now take over the operational leadership of Guinness Ghana, leveraging its extensive distribution network and regional expertise.
Despite the acquisition, Diageo will retain ownership of core brands including Guinness, Malta Guinness, Orijin, Smirnoff Ice, and Alvaro. These popular beverages will continue to be brewed and distributed in Ghana under a long-term licensing and royalty arrangement with Castel.