The head of the Produce Buying Company (PBC), Derek Kwaku Nkansah, revealed that the company hasn’t captured any market share in the last year, which he finds disappointing.
Nevertheless, he promised that by the end of June, PBC would see notable improvements and start moving upward.
Speaking on the JoyNews AM show, he stated “We are going to start buying at the end of this month. The conversations are ongoing. When I started the conversation, I also added that the little signs have been there since 2000, and that is because we have never had working capital.
“Working capital is something you need when you are doing this business. So, we do not have working capital; all we have done is go to the bank, borrow, finance costs hitting us so hard, and then also get seed funds, which are inadequate and also not timely. So, these are the two key challenges that we have that, bedevils our industry, and by extension, strongly, that has been challenging PBC”.
According to Mr. Derek Kwaku Nkansah, the Produce Buying Company (PBC) is in talks with COCOBOD right now and plans to start buying shares shortly.
“Those are the conversations that we are having at the moment with COCOBOD and the rest, and we are going to start buying. So, PBC is back,” he noted.