• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Tuesday, January 31, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

Government will help CPC to become more profitable – Akufo-Addo

August 27, 2020
ShareShareShareShare

The President, Nana Addo Dankwa Akufo-Addo says government will support the Cocoa Processing Company (CPC) to turn its losses and debts into profitability.

He said the company was strategic to the government’s push for value-added industrialization of the country and would be given the necessary assistance to boost its viability.

The President gave the assurance on Wednesday, August 26, 2020, when he visited the processing facility of the CPC at the Tema light Industrial Area to acquaint himself with the workings and challenges of the company post-COVID.

He said his visit to the company was to reinforce the fact that there was a need to support the country’s strategic economic institutions whose performance would be a major indicator of how well Ghana would fare in the future.

Noting the debilitating effect of the COVID-19 on the global economy, the President said there was the need to systematically open up the economy again.

“Within the meantime, a lot has happened and it is important that we draw a balance sheet of what is happening so that we can position ourselves to look as to what we need to do for the future,” he stressed.

President Akufo-Addo said his administration was committed to transforming Ghana’s economy from one reliant on its raw materials to one driven by value-added exports.

This, he said, would accelerate the country’s industrialisation agenda, enhanced agro-productivity, place Ghana at the high-end of the global market place and create jobs for Ghanaians.

With Cocoa being a mainstay of Ghana’s economy for over a century and a principal source of funds for its development, there was a need to promote the activities of the CPC to contribute effectively to the Agenda of a Value-added export-driven economy.

He said the operations of the CPC reinforced his conviction that the company was at the cutting-edge of Ghana’s industrialization success, because of its strategic importance in the economic landscape of the nation.

“So, to have this company whose aim it is to add value to our cocoa industry makes you a very strategic company in our economic landscape,” he said.

The President said the company, like many such state-run entities, had not been well managed, leading to “formidable challenges and indebtedness running into over 100 million dollars”.

He said he was encouraged that the new management appointed by his administration was putting in the needed efforts and initiatives to “confront the past and build a successful and viable future for the company.”

“The CPC story is one that should be widely told as a source of inspiration for many people in the private sector,” he said.

The President further indicated that the increase in the subscription to Ghanaian confectionery and chocolates was a major boost for cocoa production and processing for Ghana.

He argued that between Ghana and Ivory Coast, both nations produced between 65 percent of the world’s cocoa beans, but earned a meagre 10 billion dollars per annum out of a global annual industry value of about 142 billion dollars.

That, he said, ought to change, adding that Ghana would collaborate with Côte d’Ivoire to increase its share value in the global market chain.

 

Source: GNA
Tags: Akufo AddoCocoa Processing CompanyGhana News
Previous Post

AFCSOs commend Prof. Opoku-Agyemang for her decent style of politics

Next Post

5 things to know about director of ‘The Burial of Kojo’ Blitz the Ambassador

Next Post

5 things to know about director of 'The Burial of Kojo' Blitz the Ambassador

TOP STORIES

Tema Palace Mall branch manager arrested for tax non-compliance

January 31, 2023

Soldiers shoot 25-year-old man at Hobor; two others injured

January 31, 2023

NDA procurement breaches: Suspects granted GH¢2m bail

January 31, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT