JAN 9, 2018: CORPORATE NEWS FROM GHANA

COCOA PROCESSING COMPANY LTD

Cocoa Processing Company ltd (CPC) suspended from trading at the Ghana Stock Exchange in August 2017, is staging a strong come back bid.

The company was suspended for two main reasons 1) Non submission of its annual reports and 2) for failure to hold annual general meeting from 2015 to then.

Now, says CEO Nana Agyenim Boateng 1 the company is seeking a come back to the market and pleading for investors understanding and support.

It has submitted to the exchange annual reports for 2015, 2016 and 2017 and organised annual general meeting to consider and approve the accounts, amongst other matters, on December 27, 2018.

Eventually, this should pave the way for renewed trading but CPC still has a long way to go before its accounts read black.

For now, it was red ink all the way in those years and may remain so for a while yet. But there are plans affoot to reverse the trend.

According to Boateng 1, working capital is being sort from banks to boost production; a power plant is to be established to use cocoa shells, saw dust and others to generate power and reduce energy bills drastically and 6 boreholes recently brought on stream should also reduce water cost.

Above all, says the CEO, plans are afoot to achieve greater efficiency, mitigate infrastructure challenges  and allow the company to ride good crest with recently launched new golden tree chocolates in new packaging and new formulation.

GHANA COMMERCIAL BANK

A new company secretary has been appointed for Ghana Commercial Bank in the person of Amma Agyeman Kusi-Appough.

This followed her confirmation after acting in the position since July 31, 2017 when then substantive company secretary retired.

The new company secretary holds LLB from the United Kingdom, started her legal practice at College of Law, Tottenham Court Rd London and became a solicitor of England & Wales in 2002.

She attended Ghana law school up to 2004 then worked at Apen Chambers before joining Ghana Commercial Bank in December 2005.

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