This follows the closure of the Chinese-owned cement manufacturing firm by officials of the Ghana Revenue Authority (GRA) for tax default amounting to more than GH¢700 million.

The company was cited for the VAT infraction including corporate income tax and penalties after a tax audit by the GRA tax enforcement. It failed to pay taxes for more than two years and has been asked to settle the amount within 10 days.

The company in a statement issued on Monday apologized and assured its stakeholders that it was committed to resolving the matter.

“We acknowledge that we are indebted to the Ghana Revenue Authority for unpaid taxes. We are fully committed to resolving this matter in a responsible and timely manner. We want to reassure our valued customers, stakeholders, and the public that we are taking immediate and proactive steps to address this issue. We are in discussions with relevant tax authorities to develop a structured repayment plan that aligns with our financial capabilities and ensures that our tax obligations are met.”

“SOL Cement remains dedicated to its mission of contributing to the growth and development of Ghana. We understand that paying our taxes is an essential part of fulfilling this commitment. We apologize for any concerns or inconveniences this situation may have caused, and we promise to keep all our stakeholders informed throughout this process,” the company said.