CPC presents 11.7 billion cedis dividend to COCOBOD

The Cocoa Processing Company (CPC) in Tema on Wednesday presented a total of 11.75 billion cedis representing dividends for 2000 and 2001 to its sole shareholder, Ghana Cocoa Board (COCOBOD) at its 50th Annual General Meeting at Tema.

The dividend of 2000 amounted to 6,848,770,000 billion cedis while that of 2001 was 4,901,477,000 billion cedis. Ms Cecilia Abena Dapaah, chairman of the Board and a Deputy Director of State Protocol, presented the cheque for the amount to COCOBOD Chief Executive, Mr Kwame Sarpong.

In 2000, CPC produced 24,981 metric tonnes representing 99 percent of its 25,000 metric tonnes capacity, as against 23,083.326 metric tonnes in 2001. Mr James Ekow Rhule, Public Relations Manager of the CPC said 95 percent of the company's semi finished products are exported to the United States of America, Europe and Asian while the remaining five percent are distributed to the Ghanaian local confectionery companies.

The company produces cocoa liquor, butter, cake as well as powder as its semi-finished products for export and chocolate beverages for local consumption, he added. He said the CPC is currently undertaking an expansion programme of its factory including the processing lines and warehouse.

Mr Rhule said the company is taking delivery of machinery estimated to cost 20 million Euros for the project which is expected to be completed in three years, to step up CPC's capacity from the present 25,000 metric tonnes to 65,000 metric tonnes.