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Cocoa Processing Company lost $7.9m in 2020

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Photo by Getty images-credit: bedo
Photo by Getty images-credit: bedo

Cocoa Processing Company Report lost $7.9m in 2020

A loss of $7.9 million was reported by the Cocoa Processing Company plc (CPC) in 2020,

while the company’s revenue plummeted from $28,433,361 in 2019 to

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$13,645,898 in 2020, according to CPC.

Cocoa pods and their shells, as well as other agricultural waste, will be used to

power the company’s Combined Heat Power into a Biomass Plant.

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The 18-month project is estimated to lower utility costs by 28% in the first year and

by 63% in the following years when payment of the loan facility is completed.

The plans of Cocoa Processing Company

It is also seeking and establishing new markets in Rwanda, Kenya, Angola, South

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Africa, and the United Arab Emirates, which the firm is actively pursuing. Golden

Tree goods are being discussed at a high level with the Head of Missions of these countries.

Address to the company’s annual general meeting on Friday in Accra

Chairman of the Board of Directors Mr. Kwaku Owusu Baah made the announcement.

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In 2020, the firm lost $7.9 million, compared to a loss of $259,358 in 2019.

Turnover decreased from $28,433,361 in 2019 to $13,645,898 in 2020, a significant decrease.

As part of its efforts to improve plant and machinery efficiency, Buhler Company Limited,

one of the manufacturers of cocoa plant and machinery, has been approved

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by the company with the help of the government to discuss technical support

for the retooling of some processing equipment to order to achieve

efficiency and increase revenues, according to Mr. Baah.

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As a result of the COVID-19 epidemic, governments throughout the world

implemented limitations on mobility, such as curfews, borders closed, and travel

bans, to prevent the virus from spreading.

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The Chairman of the Board noted that these actions had a detrimental effect on all

industries globally and that the firm was particularly hard hit since it was unable to

export $20.8 million worth of semi-finished cocoa goods.

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While the pandemic and aging manufacturing equipment contributed to increased

downtime and associated expenses, “he said,” he added, “these events caused

difficulties for the company’s operations during the year under review,” he said.

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When Nana Agyenim Boateng I was CEO of the firm in 2018/2019, cocoa beans

supply erratic hampered the company’s estimates and as a consequence,

the company could only process around 50% of the previous year’s production.

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The demand for chocolate confectionery items, on the other hand, he said,

he said, had a significant impact on confectionery sales.

According to him, this was due to increased public knowledge of the immune-boosting benefits of cocoa used.

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There were major setbacks in profitability and development, Nana Boateng added,

as a consequence of uneven beans supply as well as issues with plant and gear efficiency.

As Nana Boateng said, “the Board of Directors and Management will continue,

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as vowed always, to pursue our aim of turning your firm around into a viable enterprise.”

Source: GNA

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Business

Ghana’s Most Powerful CEO Is Also Its Quietest, Operating In Silence

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Africa’s next generation of business leaders may not all be household names. Some are choosing to build influence through innovation, disciplined execution, and long-term vision rather than public attention. Among them is Josiah Otoo-Mensah, the young CEO and co-founder of Luminex Logistics Ltd., a Ghana-based company working at the intersection of artificial intelligence, secure logistics, and enterprise data integration.

While many technology founders embrace the spotlight, He has deliberately remained a low-profile executive. His focus has been on building systems, developing technology, and creating an organization designed to solve some of the most complex logistical and information management challenges facing institutions.

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That philosophy is reflected in Luminex Logistics’ business model.

The company combines secure document logistics with AI-powered data solutions, positioning itself beyond the traditional definition of a courier service. Its logistics division focuses on handling sensitive deliveries that require exceptional accountability and confidentiality. These include passports, passport application documents, corporate records, legal documents, and other confidential materials for private organizations and public institutions. The company also coordinates the collection and distribution of packages arriving through Tema Harbour, streamlining last-mile delivery to verified recipients.

Security is not simply a feature of the business—it is central to its identity.

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As governments and businesses continue digitizing operations, the movement of sensitive information has become as critical as the movement of physical goods. Luminex Logistics aims to build trust by combining operational discipline with intelligent technology, creating delivery systems designed around traceability, accountability, and efficiency.

But logistics is only one side of the company’s broader ambition.

Its second pillar is an AI-driven data integration platform designed to address one of the biggest operational challenges facing modern organizations: fragmented information.

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Businesses, healthcare providers, and security organizations often store valuable data across disconnected systems. This fragmentation slows decision-making and reduces operational visibility.

Luminex Logistics is developing software intended to consolidate these data sources into a unified platform, enabling organizations to access information more efficiently and support informed strategic decisions.

The vision extends beyond software.

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It represents a broader belief that Africa’s future competitiveness will depend on intelligent infrastructure—systems capable of transforming information into actionable insight while maintaining security and operational reliability.

Those familiar with Josiah’s leadership describe an executive who prioritizes preparation over publicity. His management philosophy emphasizes building durable institutions, investing in technology, and focusing on long-term value creation rather than short-term recognition.

That approach has become increasingly rare in an entrepreneurial ecosystem often driven by visibility.

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Instead of building a personal brand first, he has concentrated on building a company.

For Ghana, where digital transformation continues to accelerate across public and private sectors, companies capable of integrating artificial intelligence with trusted operational execution could play an increasingly important role in the country’s economic development.

Whether through secure logistics or intelligent data infrastructure, Luminex Logistics reflects an ambition that reaches beyond transportation.

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It is an ambition to become part of the digital backbone supporting how organizations move information, make decisions, and operate in a data-driven future.

If successful, Josiah Otoo-Mensah’s legacy may not be defined by media appearances or conference stages. It may instead be measured by the infrastructure he helped build—systems that quietly power institutions, strengthen trust, and demonstrate how African innovation can solve African challenges while competing on a global stage.

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