Business News of 2014-05-20

Benso Oil declares profit

The Benso Oil Palm Plantation (BOPP) Limited paid a total dividend of GH¢1.16 million out of a total profit of GH¢5.81 million to its shareholders for the 2013 financial year.

The Chairman of the Board of Directors of the company, Mr Ishmael Yamson, declared this at the annual general meeting (AGM) of the company at Akroma Plaza in Takoradi.

He said in 2012, the company recorded profit after tax of GH¢13.41 million and in 2013, profit declined at approximately 57 per cent compared to that of 2012.

Mr Yamson said the company processed 89,229 metric tonnes of fresh fruit bunches including 47.749 metric tonnes of fruits from BOPP’s smallholders and outgrower farmers within the immediate environs and the Western and Central regions.

In all, the company paid GH¢9.9 million to these farmers thereby contributing to the rural economies of these regions.

The shareholders at the AGM urged the board chairman of BOPP?to influence policy makers to pay the necessary attention to agriculture in general and oil palm in particular.

This, they said, was informed by the sustainable business model of BOPP.

The company emerged the best agribusiness company in Ghana at the Association of Ghana Industries (AGI) second industries award and for the Ghana Club 100 awards, the company was 32nd up from the 72nd position previously.

The board commended the shareholders and management for their respective roles in keeping the company running well.

A former General Secretary of the Ghana Agricultural Workers Union (GAWU), Mr Samuel Kanga, said if it became necessary for government to borrow from the Heritage Fund, the money should be used to promote agriculture to create employment for the unemployed youth.

Among the shareholders were the Western Regional Minister, Mr Paul Evans Aidoo, and the Member of Parliament for Mpohor Constituency in the Western Region, Mr Alex Agyekum.

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