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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

Meet the face behind Ghana’s Leading Real Estate Firm, “The John Sam Realty”

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John Sam is a young entrepreneur making a significant mark in the real estate industry. With a passion for helping people and a strong commitment to providing high quality services, he has built a reputation for being reliable and dedicated. His company, “The John Sam Realty,” has become known for its professionalism and customer satisfaction.

John Sam’s journey in the real estate business has been driven by his desire to make a difference. His focus has always been on offering solutions that help people buy and sell property with ease and confidence. Through his hard work and consistency, he has managed to build a solid foundation of trust with his clients, always ensuring their needs are met.

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The services offered by “The John Sam Realty” cover a wide range of real estate needs. People looking forward to buying litigation-free land, need assistance with land surveying, or require help with land documentation, John Sam’s team is equipped to handle it all. They offer services such as preparing cadastral site plans, indentures, and land registration, making sure the paperwork is handled professionally and efficiently.

In addition to land-related services, The John Sam Realty also provides supplies for building materials and architectural designs. If one is planning to construct or renovate a property, the firm can guide you through the entire process, from design to construction. The company also offers real estate consulting, ensuring that clients make informed decisions every step of the way.

John Sam’s expertise and hands-on approach make him a trusted advisor for anyone looking to navigate the world of real estate. He understands that buying property or starting a construction project can be overwhelming, which is why he is always available to offer advice and support.

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John Sam is also currently pursuing his studies in Real Estate at the prestigious Kwame Nkrumah University of Science and Technology (KNUST), all while managing his real estate business both on and off-campus. Despite being in school, he continues to bring real estate projects and deals to a successful closure. One of his recent successes was securing a land property for a Canadian real estate developer, who is planning a residential project. The deal, worth GHC 600,000, was led by John Sam, who spearheaded and facilitated the entire property transaction.

For those interested in any of these services or seeking real estate advice, John Sam and his team can be reached at 0249421563 or 0598296959. You can also send an email to nanaksam9@gmail.com for further information.

With John Sam’s leadership and commitment to excellence, The John Sam Realty continues to be a trusted name in the real estate industry.

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