Licensed Cocoa Buying Company (LBC), Royal Commodities (ROCO) has taken stock of over 30 new trucks financed by the GCB to aid its cocoa work in the hinterlands including efficient internal purchases of cocoa beans across the cocoa-growing regions.
Managing Director of Royal Commodities Ltd (ROCO), at the handing over ceremony was delighted GCB had proven itself as a dependable partner, noting although Royal Commodities was a medium LBC, it was very efficient so appreciated the support from the bank which spans 30 Howo light duty and 10 heavy duty trucks as well as tractors with trailers for unmotorable roads.
Alhaji Abdulzakou Adamou, added the trucks will help in the transportation of cocoa from the farm gate to depots enabling his company expand its internal operations to be more competitive.
Acting Head of Corporate Banking GCB, Nana Antwi Boasiako expressed pleasure with Alhaji Adamou and Royal Commodities Ltd (ROCO) for their professional approach to business adding at the Tema event that the bank also supported ROCO to purchase about 15,000mt of cocoa observing with the addition of the trucks, internal cocoa purchases will be increased.
“This year, we are able to support LBCs with about GHc754 million. 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,” Nana Antwi Boasiako further submitted.
The Deputy Chief Executive of the Ghana COCOBOD, Emmanuel Opoku, who was in session at the Royal Commodities premises truck hand-over event commended both parties for their mutually beneficial alliance.
By Michael Eli Dokosi/goldstreetbusiness.com