Connect with us

People & Lifestyle

From local pub to a distillery business! Republic Distilleries Targets $1.4 Trillion Liquor Market With Their Unique Akpeteshie

Published

on

Kofi Owusu-Ansah and Raja Owusu-Ansah, founders of Republic Distilleries in AccraREPUBLIC BAR

Now this is a story I couldn’t help but share! Brothers Kofi and Raja Owusu-Ansah, owners of the popular Republic Bar & Grill have branched into the Spirits manufacturing business and they are looking to take it global!

Republic Distilleries in Accra, are bringing Akpeteshie, Ghana’s indigenous alcoholic spirit distilled from sugar cane juice, to the rest of world. They are poised to disrupt the international liquor market valued at $1.4 trillion in 2021, a figure that’s expected to grow 10.3% until 2028, one “Kokroko” drink at a time.

In a feature by Kori Hale, CEO Of CultureBanx, Raja Owusu-Ansah explained:  “Akpeteshie and its distillation is firmly rooted in Ghanaian tradition and culture. Ghana’s organically grown sugarcane and methods of distillation can certainly provide the world with another Cane-Spirit option.”

Advertisement

Republic Distilleries is ​​giving Akpeteshie the “Cool Factor” that consumers and investors alike are looking for. At Republic Bar, the direct-to-consumer part of the brothers distillery business, they are hoping to replicate the wild success of Cachaça in Brazil, also a distillate of sugar cane, which is expected to hit about $485.8 billion in 2028, according to Adroit Market Research.

Africa is one of the fastest-growing consumer markets in the world, and the aforementioned figures are just -4.4%a few more reasons why Akpeteshie has the opportunity to become a formidable competitor in the global liquor market. Ghana’s Akpeteshie has the opportunity to one day become as big as Mexico’s tequila market valued at $10.4 billion in 2022 and projected to grow to $15.5 billion by 2029.

Across the continent, distilleries contribute to economic growth by creating employment opportunities, generating revenue through exports, and stimulating local communities. For Republic Distilleries bringing Akpeteshie to the world is a way of preserving Ghana’s cultural identity, while promoting its unique traditional alcoholic beverages in domestic and international markets.

“Akpeteshie has always accompanied the celebration of Ghana’s traditional festivals, weddings, funerals and parties,” said Kofi Owusu-Ansah. It’s these types of events that Republic Distilleries wants to make sure their Akpeteshie alcohol is a part of in countries all around the world.

Advertisement

 

Source: Forbes

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
You want to bet with the best odds on every football match? bestbets.com.gh shows you the highest odds for all important games.