Managing Director of state-owned Cocoa Processing Company resigns

The Managing Director of state-owned Cocoa Processing Company (CPC), Nana Agyenim Boateng, has resigned from his position.

According to a circular issued to investors, the CPC board said it has since put in place wide-ranging measures to ensure the seamless operations of the company until a substantive replacement is made.

It however pointed out that “the market will be notified before March 21, 2023, of the new MD or the one who will be acting in the position until a substantive MD is appointed.”

The CPC also assured stakeholders of its commitment to the highest standards of corporate governance and continuity of operations.

Before assuming the role as MD for CPC, Nana Agyenim Boateng served as deputy MD for Producer Buying Company Limited (PBC), another state-owned entity.

During this period, the company revamped its operations with the introduction of new lines and operational expansions in order to enable government to meet its target of processing more than 60 percent of cocoa beans produced.

The Cocoa Processing Company Limited (CPC) which is based in Tema was established in 1965. It was later incorporated as a limited liability company in November 30, 1981 and publicly listed on the Ghana Stock Exchange on February 14, 2003.

The CPC’s factories have an annual throughput of 65,000 metric tonnes of premium Ghana cocoa beans.

Watch the latest edition of BizTech and Biz Headlines below:







MA/DA