A former Director General(DG) of the Securities and Exchange Commission(SEC), Dr. Adu Anane-Antwi has urged the management and workers of the Ghana Cocoa Processing Company (CPC) to work at improving their performance on the stock market and not delist.
Speaking to Citi Business News yesterday, the Staff Chairman of the Professional and Management Union at the CPC, Mr. Francis Aloko argued that government already owns over 90 percent shares of the stock, hence delisting will enable government take full control to allow COCOBOD supply the company with beans.
Currently CPC’s performance is among the lowest on the bourse as it owes some syndicated banks 20 million dollars.
But speaking to Citi Business News, Dr. Anane-Antwi was of the view that the company can turn around its performance with a good management strategy on the stock market.
“They have to work on it whether it is operational or finance[to determine] why they are not able to come to the market for more funds. If a company is not doing well, you analyze it to see why there is that problem and then you find solution to that problem,” he said.
Dr. Anane-Antwi maintained that the GSE rather needs more companies to provide variety for investors, and not delisting.
“We always want more companies to come to the market to improve listings on the market and make sure that there are more varieties on the market. So if we hear that a company wants to delist, it’s not good for the market,” he appealed.
Providing some recommendations, Dr. Anane-Antwi was of the view that CPC can bounce back on the market with strategic plans that will turn around the fortunes of the company.
“The management has several things to do. They are there they know what is happening and what is not making them have the impact that they want to do make. So they have to work around it on what to do to turn around the company,” he said.
By: Lawrence Segbefia/citibusinessnews.com/Ghana