Workers of the Produce Buying Company (PBC) are ramping up demands for government intervention as the once-thriving cocoa-buying firm struggles with inefficiencies and financial distress.
They argue that PBC, a crucial player in Ghana’s cocoa sector, deserves the same level of attention and support as Ghana Cocoa Board (COCOBOD) amid ongoing economic recovery efforts.
At the core of their demands is the urgent appointment of a new CEO to lead the company out of crisis.
Led by the Pressure Group of PBC Limited, the aggrieved workers cite months of unpaid salaries as a major setback, threatening their livelihoods and the company’s operations.
Speaking to Citi Business News, Vice Chairman of the PBC Workers’ Union, Seth Adusei, called on the government to take swift action to revive the struggling firm.
“PBC as at this time should have been given a new CEO so that the staff may know that indeed when the government came, it has really listened to their grievances, which the previous administration failed to address,” he said.
“COCOBOD, with its debt stock of about 32 billion, still has the government’s keen interest in its activities, so why can’t the same government do anything about PBC? It is about three to four months in power, and nothing significant has been done for us to bring back the company to life,” he added.
PBC’s market share has plummeted from 30.88 percent in 2016 to just 8 percent in 2021, reflecting the company’s decline.
In January 2024, the Agricultural Development Bank (ADB) and five other banks secured a court order preventing the sale or transfer of PBC’s assets, including its headquarters at Number 106 Olusegun Obasanjo Way, Dzorwulu Junction, Accra.
In response to these challenges, PBC workers have staged multiple protests, demanding payment of their outstanding salaries and urgent action to restore the company’s viability.