President Nana Addo Dankwa Akufo-Addo has appointed Derek Kwaku Nkansah as the managing director of Produce Buying Company Ltd. (PBC)
Derek Kwaku Nkansah replaces Richard Akuoko Adiyiah, who passed away in October last year, 2022. The news was set out in a letter signed by the Executive Secretary to the President, Nana Bediatuo Asante.
“Kindly take the necessary steps to regularise the said appointment in accordance with the relevant provisions of the Companies Act 2019 (Act 992) and the constitution of the company.”
Nana Bediatuo Asante
Performance of PBC on GSE
The current share price of Produce Buying Company Limited (PBC) is GHS 0.02. PBC closed its trading day (Wednesday, March 29, 2023) flat – without a gain or loss, closing at GHS0.02 per share on the Ghana Stock Exchange (GSE).
Produce Buying Company is the 16th most traded stock on the Ghana Stock Exchange over the past three months (Dec 28, 2022 – Mar 29, 2023). PBC has traded a total volume of 21,640 shares valued at GHS 433 over the period, with an average of 343 traded shares per session. A volume high of 4,000 was achieved on January 17th for the same period.
Produce Buying is traded on the GSE under the ticker symbol “PBC”. The International Securities Identification Number (ISIN) of GSE:PBC is GH0000000169. Produce Buying Company Limited is currently the 34th most valuable stock on the GSE with a market capitalization of GHS 9.6 million, which is about 0.014% of the Ghana Stock Exchange equity market.
PBC Ltd originally existed as a licensed buying company (LBC) which takes part in the marketing of cocoa within Ghana as its core business, among other auxiliary areas of business to complement its revenue stream. Over the years, PBC Ltd has operated in an environment of stiff competition with other licensed buying companies for cocoa from farmers.
However, the company remains the biggest cocoa purchaser among all the LBCs for the Ghana Cocoa Board (COCOBOD), with a market share of roughly 31%.
Since its listing on the Ghana Stock Exchange the company has achieved many successes and has developed steadily to become a major player in the cocoa industry, showing tremendous growth in all aspects of its core business activities.
As part of its strategy to maintain and improve on its share of the market for cocoa purchases, PBC Ltd has established alliances with a number of international cocoa trading companies to roll out schemes that will increase the yield and acreage of farmers and also improve on farmer livelihoods.
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