PBC hopeful of resolving Shea factory challenges

Maxwell Kojo Atta-Krah, Chief Executive Officer of the Produce Buying Company (PBC) Limited is hopeful that the technical challenges facing the company’s Shea factory will be resolved in the not too distant period for the subsidiary to contribute meaningfully to the total group effort.


“The PBC Shea factory is unfortunately not fully completed for operations at full capacity as reported on last year. Efforts to get the Solvent Extraction component of the plant to become functional are being expedited,” he said.

Mr. Atta-Krah, speaking at the company’s 15^th Annual General Meeting in Accra explained that in order to resolve the difficulties facing the company, the Board on the advice of technical; experts have approved the complete replacement of the solvent extraction component, while dealing with the collateral issues arising out of the non-functioning of the original plant with the suppliers.

He indicated that the Shea factory is potentially a rich foreign exchange earner for PBC Ltd and has great potential as a revenue generating outlet as well. No effort is being spared to get the factory to full working order as quickly as possible.

The Board, he said, expects better operation from the two subsidiaries, especially PBC Shea when the retrofitting is completed in the course of the year. There should therefore be better contribution from the subsidiary to justify their establishment.

The total revenue earned of GHC1.471 billion arose out of the  three main core activities of the Company, namely, cocoa operations with revenue of GH1.413billion, sheanut activities GHC35.660 million and haulage service GHC7.986.00 million.

Revenue sheanut increased by 346 percent from GHC 7.986 million to GHC35.660million due to increase in sheanut activities and purchases in the sheanut sector.

He mentioned that the company will continue to put in place the needed strategies to improve its operational capacities and efficiency to increase its market share, increase volume of purchases to enhance its revenue and boost its profit levels in the years ahead.

“Improved farmer’s relationship through provision of incentives will continue to engage the attention of management.

“Again, the Company will put in place appropriate strategies to monitor and effectively and efficiently manage the various investments being undertaken to ensure maximum return,” Mr. Atta-Krah said.