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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Fuel prices to go up as NPA announces restoration of UPPF margin

    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    President and Board Chairman of Afreximbank, Prof Benedict Oramah

    Plans are underway to complete a fertilizer, railway projects in Ghana – Afreximbank

    Free SHS and other programs must be redesigned now – Seth Terkper

    KGL Group hosts Nigeria Lottery Regulatory Commission CEO Mr. Lanre Gbajabiamila

    IMF team arrives in Accra on Wednesday to begin bailout talks with gov’t

    Fuel prices to go up as NPA announces restoration of UPPF margin

    GHASALC laments drop on number of digital transactions following e-levy

    Gov’t to commence talks with IMF for bailout

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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Fuel prices to go up as NPA announces restoration of UPPF margin

    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Government will help CPC to become more profitable – Akufo-Addo

August 27, 2020
in Agribusiness, Economy, Top Stories
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The President, Nana Addo Dankwa Akufo-Addo says the government will support the Cocoa Processing Company (CPC) to turn its losses and debts into profitability.

He said the company was strategic to the government’s push for value-added industrialization of the country and would be given the necessary assistance to boost its viability.

The President gave the assurance on Wednesday, August 26, 2020, when he visited the processing facility of the CPC at the Tema light Industrial Area to acquaint himself with the workings and challenges of the company post-COVID.

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He said his visit to the company was to reinforce the fact that there was a need to support the country’s strategic economic institutions whose performance would be a major indicator of how well Ghana would fare in the future.

Noting the debilitating effect of the COVID-19 on the global economy, the President said there was the need to systematically open up the economy again.

“Within the meantime, a lot has happened and it is important that we draw a balance sheet of what is happening so that we can position ourselves to look as to what we need to do for the future,” he stressed.

President Akufo-Addo said his administration was committed to transforming Ghana’s economy from one reliant on its raw materials to one driven by value-added exports.

This, he said, would accelerate the country’s industrialization agenda, enhanced agro-productivity, place Ghana at the high-end of the global market place and create jobs for Ghanaians.

With Cocoa being a mainstay of Ghana’s economy for over a century and a principal source of funds for its development, there was a need to promote the activities of the CPC to contribute effectively to the Agenda of a Value-added export-driven economy.

He said the operations of the CPC reinforced his conviction that the company was at the cutting-edge of Ghana’s industrialization success, because of its strategic importance in the economic landscape of the nation.

“So, to have this company whose aim it is to add value to our cocoa industry makes you a very strategic company in our economic landscape,” he said.

The President said the company, like many such state-run entities, had not been well managed, leading to “formidable challenges and indebtedness running into over US$100 million”.

He said he was encouraged that the new management appointed by his administration was putting in the needed efforts and initiatives to “confront the past and build a successful and viable future for the company.”

“The CPC story is one that should be widely told as a source of inspiration for many people in the private sector,” he said.

The President further indicated that the increase in the subscription to Ghanaian confectionery and chocolates was a major boost for cocoa production and processing for Ghana.

He argued that between Ghana and Ivory Coast, both nations produced between 65 percent of the world’s cocoa beans, but earned a meagre US$10 billion per annum out of a global annual industry value of about US$142 billion.

That, he said, ought to change, adding that Ghana would collaborate with Côte d’Ivoire to increase its share value in the global market chain.

Source: GNA
Tags: Akufo AddoCocoa Processing CompanyGhana News
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