CPC ON THE VERGE OF COLLAPSE OVER 90 MILLION DOLLARS DEBT

CPC ON THE VERGE OF COLLAPSE OVER 90 MILLION DOLLARS DEBT

Cocoa Processing Company Limited (CPC) is crumbling under 90 million dollar debt accrued over the last 8 years

This was revealed during a tour by the Board Chairman Hackman Owusu Agyemang and his members.

The debt has compelled the company to to run at low capacity.

The debtors include COCOBOD $50 Million, Syndicated Banks $20 million   

Acting Managing Director, Dr. Frank Asante says the debts is as a result of high utility tariffs and the fact that the company does not get sufficient supply of Cocoa Beans for production

He therefore appeals to government to intervene so they can settle their debt to keep the company on its feet

Meanwhile Chairman of the COCOBOD Hackman Owusu Agyemang has assured them of helping them to settle their debt to bring the company to its feet.

He added that even if managements need to be sacked before the company is back on its feet they will do so

The team also toured some Cocoa Processing companies such

Touton, Barry Callebout, Niche, Cargill and CPC.

source:kulenunewsblog