[ 2015-07-29 ]

COCOBOD Chases Richest Woman For $26m
A recent publication about Ghana’s Rich List has
put Patricia Poku-Diaby, touted as the richest
woman in the country, in big trouble, with Ghana
Cocoa Board (Cocobod) chasing her for its money.

Ms Poku-Diaby, a business woman and cocoa
merchant, is said to be owing Cocobod an amount of
$26.7 million.

Though she was recently named the richest Ghanaian
woman and eighth richest Ghanaian in general, her
company, Plot Enterprise Ghana Limited, is said to
be one of five cocoa processing companies that owe
Cocobod up to $131 million.

The other companies that owe Cocobod are WAMCO –
$49.52 million; Cocoa Processing Company (CPC) –
$46.36; Afro Tropic – $6.92 million and Real
Products – $2.24 million.

According to information gathered by DAILY GUIDE,
outstanding debt owed by the five companies as at
2014 was $210 million until the new board put in
some measures which resulted in part payments of
the debt by the companies.

Patricia Poku-Diaby was recently named the eighth
richest Ghanaian among 80 Ghanaian businessmen and
entrepreneurs with a net worth of $720 million in
a list compiled by a management and consultancy
firm, Goodman AMC, dubbed, ‘The Ghana Wealth
Report’.

The news about her net worth sent shockwaves and
stirred controversy at Cocobod, as management and
staff could not come to terms with why Ms
Poku-Diaby had refused to honour her paltry $26.7
million indebtedness to the company, even though
she is worth $720 million.

According to a Cocobod management member who spoke
to DAILY GUIDE, they were shocked about the net
worth of Ms Poku-Diaby.

“How can she be that rich and yet refuse to pay
Cocobod?” he asked.

He said several attempts by Cocobod to get her to
honour the $26.7 million indebtedness had proved
futile.

“It is intriguing that in spite of Patricia
Poku-Diaby’s acclaimed riches, her company has
not been able to settle its indebtedness for
smooth delivery of beans for their operations,”
the management member said.

According to him, instead of focusing on paying
off her debt, Madam Patricia had rather sought
support from some powerful politicians and
influential individuals in the country to enable
her company continue to receive supplies from
Cocobod.

However, he said, as part of measures to save the
board from going bankrupt, Cocobod had stopped
supplying cocoa beans to companies that owed it
and had further put in place arrangements to
forestall the recurrence of such indebtedness by
making it mandatory for local processing companies
sourcing cocoa beans from Cocobod to provide bank
guarantees.

Source - Daily Guide

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