The Government of Ghana, through the Ghana Cocoa Board, is floating 25% of its shares in the Cocoa Processing Company, Tema.

This means the general public is being given the opportunity to invest directly and be part owners of the CPC, as against an outright sale of the company.

The floating was launched on Friday, September 13, 2002 and the share offer started from Tuesday September 17, 2002. The shares can be bought at any bank in Ghana. They are selling at ?1,000 per share, and a minimum of 100 shares can be bought.

At the end of the share period, which officially ends on October 22, 2002, the CPC shares will be listed on the Ghana Stock Exchange where investors can trade their shares.

This ensures that investors can trade in their shares by turning them into cash any time they wish to do so. The National Trust Holding Company are stockbrokers carrying the ensuing listing process.

CPC and its activities: The company is located in Tema, and it is a joint venture between the Government of Ghana and Drevici Group of Companies. It was built in 1965, taken over by Ghana Cocoa Board in 1972, incorporated into a limited liability company in 1981 and granted financial autonomy in October 1992.

There are two factories located on the same compound: 1 CPC Portem Cocoa Factory which processes raw cocoa beans into semi finished cocoa products i.e. cocoa butter, cocoa liquor, cocoa cake and powder.

2 CPC Portem Confectionary Factory, whose products include: chocolate, pebbles, and instant drinking powder, with popular names and such as, Kingsbite, Oranco, Alltime, Vitaco, etc.

Why you should buy CPC shares

1. CPC uses Ghana’s cocoa, the best in the world, as the main raw material for production. Cocoa is always available. There will be no shortage of raw materials. Even when there was a recent media report of "shortage" of cocoa beans, CPC had more than enough and was producing as usual. In addition the Government of Ghana which still holds 75% shares will make sure there are always cocoa beans available on regular basis for undisrupted production.

2. There is always a ready market for the CPC products as 95% of the products have guaranteed international markets. CPC products are marketed in countries like USA, UK, Netherlands, Japan, Germany, South Korea, South Africa, parts of the Middle East and Eastern Europe.

3. Under the share offer, CPC workers have a scheme, which enables them to own shares. This special dispensation allows all employees who qualify to buy the shares and pay their share subscription over a 12-month period. This makes workers part owners of company. They can therefore be trusted to put more effort than before to ensure the company remains viable.

4. Customer Satisfaction and Product Improvement. As 95% of the products are sold at the international competitive commodity market, CPC is always in close touch with their buyers, assessing quality of product for improvement, packaging of chocolate and confectionary productions and changes in labels and brand names for CPC to remain competitive on the world market. An example is the branding of seven different types of chocolate, each given a specific name with new labels, such as milk chocolate being given the brand name of Kingsbite.

5. The CPC has won over 10 international awards for its quality products. The latest branded Golden Tree chocolates and the Alltime Drinking Chocolate won gold medals in the Monde Selection Awards France 2002. CPC has also won the Exporter for the Year award on three occasions. All these awards were possible because of the quality of products and viability of the company.

6. Modernization CPC gives no room for old and obsolete machinery. New machinery has been acquired and installed on a sustained basis since 1991. An effluent treatment plant and a new confectionery factory warehouse have also been constructed.

7. Profitability From a production level of 13,500 metric tons in 1992, CPC in 1999/2000 processed 25,000 metric tones of cocoa beans. The high production target yielded a net profit before tax of US$5.56 million, as against a profit of US$4.41million in 1992. In year 2000/2001, CPC paid a total dividend of ?11.753 billion to Ghana Cocoa Board.

8. Five Year Corporate Plan (2000/01-2004/5). When the plan is fully implemented the estimated targets outlined below would be achieved.

Consolidated Cocoa 2001/01 2001/02 2002/03 2003/04 2004/05 Confectionery ?bn ?bn ?bn ?bn ?bn

Total Turnover 198.439 234.682 478.200 569.716 603.094 Total Recurrent Exp 180.301 213.182 405.650 445.971 486.683 Profit (loss) 18.138 21.500 81.550 123.743 116.4

Cocoa Factory Total Turnover 171.475 200.124 419.289 440.245 463.310 Total Recurrent Exp 154.225 181.061 357.900 382.003 410.218 Profit (loss) 17.250 19.063 61.389 58.242 5.092

Confectionery Factory Total Turnover 26.964 34.558 67.910 129.471 139.784 Total Recurrent Exp 26.077 32.212 47.750 63.968 76.456 Projected Profit/Loss 0.887 2.437 20.160 65.503 63.319

Thus after the five years the cocoa beans output at CPC Portem Cocoa Factory would be 60,000mt and the projected profit per year for the cocoa factory would be about 53.0 billion cedis (US$6.6million). There is also a plan to establish another 30,000mt factory at the same site. The confectionery products to be packed after the five years would be 7,000mt per year which would generate a profit of about ?63.0billion (US$8.0million). Thus bringing the total profitability of the company to ?116.0 billion per year (US$14.5 million).

9. CPC has an effective Management Staff and Workers Team led by experienced Dr Paul K Awuah, who has 27 years experience in the Cocoa Industry. Together, management and workers have turned the company into a profitable venture. No wonder, Dr. Awuah, was honoured by the Kwame Nkrumah University of Science and Technology with a doctorate degree in science this year.

Other honours and awards to Dr. Awuah: 1. Marketing Man of the Year 1997 by the Chartered Institute of Marketing Ghana. 2. Enlist in the millennium Edition of Who’s Who in the World 2000 by MARQUIS Who’s Who. 3. Selected International Man of the Year by the International Biographical Centre of Cambridge England.

4. Author of the Book: "Cocoa Processing and Chocolate Manufacturing in Ghana, The success story that demolished a myth". The above facts are a clear indication that it would be a wise decision to buy shares in this company. CPC is dynamic and profit oriented.