General News of Tue, 6 Jan 20041

TOPP Pays Over C2Bn Compensation To Farmers

Unilever Ghana Limited has facilitated the payment of two billion four hundred and sixty seven million two hundred and ninety four thousand eight hundred and twenty six cedis (2,467,294,826.00) as crop compensation to 2,203 farmers spread over 33 villages on the catchments area of Twifo Oil Palm Plantation Limited (TOPP) in the Twifo Hemang Lower Denkyira District of the Central Region.

Out of the farmers who benefited from the compensation, 58 from Ntafrewaso Community received ?106,849,81.00.

Mr. Billy Ghansah, the Estate Manager of TOPP, announced this when he briefed newsmen on the activities of TOPP at Ntrafrewaso.

Topp was divested in the year 1998 and Unilever Ghana acquired 50 per cent of the shares held by the government of Ghana and was given management control of the company.

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According to the Estate Manager, former management failed to pay crop compensation to the affected farmers when government took over the land for oil palm, plantation in 1977.

However, the new management took over the company and was able to pay 488m cedis, the first-ever dividend toils shareholders in the year 2000.

The second dividened of 1.287bn cedis was paid to shareholders in 2001, another 1.655bn cedis was paid in 2002 and it was estimated that an amount of 2.175bn cedis would be paid to the company’s shareholders in the year 2003.

Source: GHANAIAN VOICE

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