Connect with us


Cocoa Processing Company lost $7.9m in 2020



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


$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.


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


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.


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


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.


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.


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.


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.


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.


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.


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,


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

Source: GNA

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.


Confirmed: Auntie Nyanis and Nana Ama Egyirba officially poached to Asaase Radio 100.3 MHz




The transfer window for radio presenters in Cape Coast is currently opened as Auntie Nyanis of Kingdom FM-Cape Coast and Nana Ama Egyirba of Darling FM have officially joined the newly established Asaase Radio 100.3 MHz.

In our earlier reports, Sintim Media released a list of over ten 10 renowned radio presenters in Cape Coast who were alleged to be have been poached from their various stations to join the newly established Ultramodern Radio Station, Asaase Radio 100.3Mhz in  Cape Coast.

Two hardworking, beautiful and eloquent female on-air personalities have officially joined Asaase Radio 100.3 in Cape Coast. 

    Nyanis Addo, Renowned Ghanaian Female on air personality

Nyanis Addo, better known as Auntie Nyanis who was spotted as the main host during the Official launch of Asaase Radio was poached from Kingdom FM-Cape Coast. Auntie Nyanis will now be hosting a new program on Asaase Radio between the hours of 1Pm to 2PM.

Dorinda Armstrong-Mensah, better known as Nana Ama Egyirba who hosts What Women Want show at Darling 90.3 FM has also been poached to Join Asaase Radio and will be hosting the Mid-Morning show.

Nana Ama Egyirba – Mid-Morning show host, Asaase Radio

Nana Ama Egyirba was the main host for the grand launching ceremony of Asaase Radio 100.3 earlier yesterday, June 14, 2022 in Cape Coast and her move to Asaase Radio is not really surprising since her Business Manager at Darling FM, Mr. Jimmy Kutin is now the Branch Manager for Asaase Radio In cape coast.

Confirmed: Auntie Nyanis and Nana Ama Egyirba officially poached to Asaase Radio 100.3 MHz

Check out some stunning photos of their first day at work during the official launching



Source: http://Sintim Media

Continue Reading



Sports1 day ago

Inaki Williams Switches Nationality To Play For Ghana

Inaki Williams Switches Nationality To Play For Ghana Athletic Bilbao striker Inaki Williams announced his decision on Tuesday to switch...

Entertainment1 day ago

Wiyaala Joins Recording Academy’s 2022 Membership Class

Wiyaala joins Recording Academy’s 2022 membership class Ghanaian multiple award winning songstress wiyaala has been invited as part of music...

Transfer News2 days ago

Tyrell Malacia Signs For United

Tyrell Malacia Signs United Manchester United confirmed that Tyrell Malacia has joined the club, signing a contract until June 2026,...

Entertainment2 days ago

R. Kelly’s lawyer says the music icon has been placed on suicide watch in jail

R. Kelly has been placed on suicide watch at the federal detention facility in Brooklyn where he is being held...

Asikuma Odoben Brakwa District3 days ago

AOB District Assembly To Build Teachers’ Quarters At Otabilkwaa and Asarekwaa Communities

AOB District Assembly To Build Teachers’ Quarters At Otabilkwaa and Asarekwaa Communities – Hon. Lawrence Edutuah-Asiaw  The District Chief Executive...

Central Region3 days ago

Kojo Vypa set to host “MOE Concert” in Elmina come Friday July 8, 2022

Reigning central regional best rapper Kojo Vypa born Desmond Prince Owusu is set to host his debut concert dubbed “Monster...

Central Region3 days ago

CONFIRMED! Nana Kweku Arhin Joins Kastle FM

Renowned and highly respected news anchor, Nana Kweku Arhin joins Kastle FM in Cape Coast. Nana Kweku Arhin popularly known...

News3 days ago

Six arrested over deadly land and chieftaincy dispute at Adum Afrancho – Police

Police arrest six suspects in deadly land dispute 23-year-old stabbed to death in family row Police restore calm, urge citizens...

Music6 days ago

Kelz – In God’s Hands (Full EP)

Talented Ghanaian Act Kelz has put out a New Studio Project dubbed ‘In God’s Hands’. Kelz has Patiently waited for...

Central Region6 days ago

Raza Swaggy officially unveiled as host for “Rush Hour” show on Asaase Radio in Cape Coast.

The hardworking Branch Manager for Cape Coast based Asaase Radio 100.3 FM, Mr. Jimmy Kutin has really proven to be...