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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

MTN Ghana Engages Bloggers on Cybersecurity, AI and the Future of Digital Finance

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MTN Ghana Engages Ghanaian Bloggers and Digital Content Creators on Cybersecurity, AI and the Future of Digital Finance.

Cybersecurity, artificial intelligence (AI), digital finance and the rapidly evolving digital landscape dominated discussions as MTN Ghana hosted bloggers and digital content creators at its second Bloggers Forum at MTN House in Accra on Wednesday, September 16, 2026.

The engagement, organised in collaboration with the New Media Association of Ghana (NMAG), brought together practitioners from Ghana’s digital media ecosystem to examine emerging trends, opportunities and challenges shaping the industry.

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Delivering the opening remarks, Madam Adwoa Wiafe, Chief Corporate Services and Sustainability Officer of MTN Ghana, urged bloggers and digital content creators to embrace the ethical and responsible use of artificial intelligence to support the growth of Ghana’s digital economy.

Cybersecurity was a major focus of the forum, with participants highlighting the growing need for digital users and content creators to adopt safer online practices as digital platforms become increasingly integrated into everyday life.

Discussions also focused on MTN Mobile Money (MoMo) and its growing role in Ghana’s digital financial ecosystem. Participants examined the importance of improving public awareness and promoting secure practices to safeguard digital financial transactions.


The forum further explored the transformative impact of Artificial Intelligence on content creation, communication and the wider media industry. Participants considered the opportunities offered by emerging technologies while emphasising the need for responsible, ethical and informed adoption.

As MTN Ghana celebrates 30 years of operations, the company also reflected on its journey and contribution to Ghana’s telecommunications sector and digital transformation. The discussions provided an opportunity to consider the technological developments that could shape the next phase of the country’s digital economy.

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For members of NMAG, the forum served as a platform for direct engagement with MTN Ghana, allowing practitioners to share industry experiences, raise concerns and exchange views on issues affecting bloggers and digital content creators.

NMAG President, Eugene Osafo Nkansah, called on MTN Ghana to consider introducing a dedicated data package for bloggers and other practitioners in the new media space.

He noted that a specialised package could help digital media practitioners manage their online operations more effectively and support them in carrying out their professional responsibilities.

The proposal received positive reactions from participants, with several practitioners describing MTN’s data services as reliable and expressing support for a dedicated package tailored to the needs of bloggers and digital content creators.

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The forum underscored the importance of sustained collaboration between Ghana’s telecommunications industry and the new media community as technological advancements continue to transform how information is created, distributed and consumed.

The engagement also provided a platform for MTN Ghana and digital media practitioners to strengthen their relationship and explore opportunities for greater collaboration in Ghana’s rapidly evolving digital ecosystem.

Source: Sintim Media

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