Stallion Group's companies bag prestigious Awards from Ministry of Finance and Economic Planning
September 9, 2006

Further to a recent announcement by the Ministry of Finance and Planning, The Stallion Group's companies in Ghana have been nominated for two prestigious awards in the areas of taxation and NHIL. The companies recently received the awards, signed by the Minister, Finance & Economic Planning, Hon. Kwadwo Baah-Wiredu. The awards were constituted to encourage private businesses to comply with VAT/NHIL stipulations and therefore improve government revenue to meet fiscal targets.

While Stallion Industries and Investments Limited has won the Platinum (highest Category Award) in the VAT and NHIL segments, The Honda Place (Ghana) Limited has been nominated for an Award in recognition of its continued significant contribution to the Republic of Ghana through timely payment of taxation and other levies.

Stallion Industries and Investments is part of a reputed operator in many product lines, enjoying long standing partnerships with globally acclaimed manufacturer and suppliers from Thailand, India, Vietnam, USA, Brazil and other countries. The company is highly reputed in the market for quality and affordability, selling brands like Golden Choice, Better Rice, Freedom, Americana and Sunflower. The award reiterates the company's pre-eminent position in the industry, reflective of its increasing market share and keenness to comply with government's regulations.

The announcement is also another feather in the cap for the Honda Place, which has already made a positive impact on the standards of consumer care in Ghana, raising the bar for other players in the automobile industry to emulate.

The Honda Place is the exclusive distributor of Honda cars in Ghana, having established a comprehensive sales and after-sales infrastructure that meets international standards in the industry. The company enjoys an excellent reputation with its Principal Honda, the Japanese automobile giant and is known for pioneering innovative elements in customer service and product delivery in the country.

Commencing operations from 2001, the company created excellent brand presence in the market, drawing from the successful experience of its promoters from the other West African markets. The Honda Place focuses on customer care and stability in availability of cars and spare parts to achieve a niche in the competitive Ghanaian marketplace. Significant investments were made into state-of-the-art workshops that provides service/repairs/body works whilst selling genuine spare parts and accessories.

Stallion Industries and Investments Limited and The Honda Place are part of the Stallion Group, a multinational business conglomerate with established presence in West Africa, Europe and the Middle East. The Stallion Group also holds the exclusive distributorship of Honda for Nigeria, in addition to an impressive array of international brands that include Audi, Volkswagen, Hyundai, Skoda and Mahindra.

Stallion, owned by billionaire international businessmen Sunil Vaswani, Haresh Vaswani and Mahesh Vaswani has strongly established itself in Nigeria, Ghana, Benin, Ivory Coast ,Senegal, Angola, Cameroun and other countries in Europe, Middle East and Asia.

Stallion specializes in manufacturing, sourcing, importation, warehousing and distribution of products of mass consumption in the most complex of jurisdictions in West Africa. Stallion's business lines include Agriculture, Automobiles/assembly, Banking, Building Materials, Commodities, Construction, Cold storage facilities, Deep Sea fishing/Shrimping, Energy/Oil, Food Processing, Insurance, Manufacturing, Motorcycle/Assembly, Polypropelene bagging Plant, Industrial/household Plastics, Petrochemicals/Fertilizers, Rice Milling, Real Estate, Shipping/Chartering, Yarn/spinning/textiles and a whole host of products of mass consumption.

Stallion has also invested heavily into local manufacturing industries with a view to driving future growth of the product lines through effective utilization of indigenous resources. Stallion's manufacturing activities include yarn/spinning/ textiles, motor vehicle assembly ,Polypropylene Bagging plant, Industrial & household plastics plant, Agriculture/ rice milling and food processing.

Stallion is also considering substantial investments into the Ghanaian industry, particularly towards import substitution projects and is actively exploring options in this regard. Ghana figures prominently in Stallion's vision and longer term plans for the region and is seen as a strategic market in its growth plans.

The Awards bestowed on the two companies is a testament to the Stallion Group's strict policies in adhering to local government regulations and complying with all applicable laws in all the countries where the group has a presence. The group strongly emphasizes the need for acting as good corporate citizens and believes that this strategy will only enhance the reputation that has been established in the market with the customers for quality and fair pricing.