I’m just inspired today to write something about Cocoa Processing Company (CPC on the Ghana Stock Exchange) and bring out some things people don’t know about this company.
On the Ghana Stock Exchange, the 1965 established company, is trading at 0.02 pesewas per share and has been so for quite a long time. I have realised that some of the best cocoa products including the delicious chocolates we consume have been the brainchild of CPC. Later in this post, I’ll list some of those great products that we never associated with this company.
1. Do you know that CPC has received certification for two management systems, i.e a) International Organisation for Standardization (ISO 9001:2008) and b) Codex Alimentarius Hazard Analysis & Critical Control Points (HACCP)? These obviously give CPC a competitive advantage over other industry players in the West African region among other things.
2. Do you know that CPC made a loss of US$11.8million in the previous year, 2013 and US$10.2 million loss in 2012? A substantial part of the company’s liabilities are due to Ghana Cocoa Board (COCOBOD)- one of the shareholders of CPC.
3. Do you know CPC gets just around 5% of it’s export revenue for its total operations and the rest 95% is shared between COCOBOD as payment on account of the outstanding loan facilities? Hmmmm,
4. Do you know the Ghana Cocoa Board owns 57.73% of CPC and the Government of Ghana (Min. of Finance) owns 26.13% ?
5. Do you know only 3 out of about 12 directors own shares in the company as at Sept. 2013?
6. Do you know there have been changes to the board of CPC? Below are the changes;
Retirees: – Mr. Charles Debrah Asante and Anthony Fofie.
Appointees: Nana-Oduro Owusu, Dr. Stephen Kwabena Opuni and Mr. Jacob Ofosu.
7. Do you know the following products are the brainchild of Cocoa Processing Company?
a) Your favourite Chocolate spread —- “Choco-delight”.
b) Your saviour on valentine’s day: ……. “Kingsbite Chocolate”, Gift Bar etc
c) The Students Companion: – ………. “Alltime” – I love this product and now you know who is behind it.
d) Well, I never tasted this natural cocoa powder before, but it looks good no wonder it’s… “Royale”.
Now you know.