Business News of Friday, 1 February 2019
Management of Royal Commodities (ROCO), a Licensed Cocoa Buying Company (LBC), has taken delivery of over 30 new trucks funded by GCB bank to ensure efficient internal purchases of cocoa beans across the cocoa-growing regions.
The trucks will help in primary and secondary evacuation of cocoa from the farm gate to depots.
The move comes two months after ROCO launched its operations in the Volta Region with a promise to use electronic weighing scales to ensure that farmers are not cheated by unsuspecting purchasing clerks.
Presenting the keys to the management of ROCO at a ceremony held in Tema, Nana Antwi Boasiako, the Acting Head of Corporate Banking GCB Bank, praised the long standing partnership that has existed between GCB and ROCO and described ROCO as a loyal and dedicated LBC.
Nana Antwi Boasiako said GCB Bank was able to support ROCO to purchase about 15,000mt of cocoa and expressed optimism that the new trucks would support their operations to further increase internal cocoa purchases.
“This year, we are able to support LBCs with about GHC754million. We are by far, the biggest financier of major LBCs in the country. This is what makes us a dependable partner in promoting a sustainable cocoa economy,” he added.
Receiving the keys, Alhaji Abdulzakou Adamou, the Managing Director of Royal Commodities Ltd (ROCO), described GCB Bank as a dependable partner, who has supported the numerous business conglomerates for more than two decades.
Alhaji Adamou assured that the trucks would be used for the intended purposes as the company plans to widen its internal operations to ensure efficiency.
Mr. Emmanuel Opoku, the Deputy Chief Executive in charge of Operations, commended ROCO for the initiative to beef up their fleet of trucks.
Mr Opoku hinted that with the introduction of several productivity enhancement programmes, cocoa production is expected to increase and the coming of the trucks is very timely.
He called on drivers to observe road safety measures to prolong the life span of the truck.