Management at Cocoa Processing Company PLC has suspended seven employees following an audit that uncovered over GH¢4.3 million in unaccounted cooperative funds.
Management of Cocoa Processing Company PLC has interdicted seven employees following a Ghana Audit Service report that identified GH¢4,373,355.04 in unaccounted funds related to the CPC Consumer Cooperative Shop.. The audit, which covered the 2023–2024 and 2024–2025 financial years and concluded in March 2026, revealed that the union-run shop had accumulated the debt for goods supplied by the company as of September 2025.. Auditors also noted that the shop operated rent-free and without utility payments
on company premises, warning that failure to recover these receivables could harm the company’s financial stability.. The affected staff include Senior Staff Union Chairman Theodore Matey Tackey, Junior Staff Union Chairman Abdul-Samed Adams, Principal Accounts Officer George Yanney, Shop Keeper Daniel Mensah, Product Research and Development Manager Genevieve Pawar, Confectionery Production Manager James Ababio, and Chief Engineer Michael Eshun.. These individuals served in various capacities as management committee members, patrons, or shop operators.. Although the
staff were queried and some denied wrongdoing, a May 11, 2026, letter from Managing Director Professor William Coffie stated that their responses provided no headway in resolving the matter, necessitating further investigation.. Under the terms of the interdiction, the employees must cease withdrawals from the shop’s bank accounts, participate in a full stock-taking exercise, and submit handing-over notes.. They will receive two-thirds of their salaries during the investigation period in accordance with the company’s collective
agreement.. The Ghana Audit Service has recommended the immediate recovery of the outstanding funds and urged the company to implement proper accounting for rent and utilities moving forward.. Management has not yet issued a public statement beyond the individual interdiction letters.
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