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Business News of Monday, 18 May 2015

Source: GNA

Benso Oil Palm Plantation makes profit

The Benso Oil Palm Plantation Limited made a profit after tax of 12.9 million Ghana cedis in 2014 representing 112 per cent increase over that of 2013.

Mr Ishmael Yamson, the Chairman of Board of Directors, announced this at the Annual General Meeting (AGM) of the company at Takoradi.

He said a dividend of GH¢ 0.0706.00 per share was approved for 2012 compared to GH¢0.0334 for the previous year.

He said by the prudent operation of the management, the company had been declared the first certified sustainable oil palm plantation in Ghana and second in the whole of Africa by the Round Table Sustainable Palm Oil (RSPO), an international organisation based in Malaysia.

The company embarked on various corporate social responsibility activities within the catchment area, notable among them being reconstruction of roads and bridges, provision of school furniture, roofing of community centres and scholarships for senior high students.

In addition to employment, the company spent GH¢ 9.7 million on fruits bought from small holders and out grower farmers in the catchment area thereby contributing to a reduction of poverty within these communities.

Mr Yamson appealed to chiefs and elders of the Western Region to make land available for oil palm plantation and that it would create employment and wealth for the people.

Osagyefo Dr Kwamena Enimil, Omanhene of Wassa-Fiase Traditional Area, and President of the Western Regional House of Chiefs, promised to facilitate the quick release of lands for agriculture in general and oil palm plantation in particular.