The Managing Director of the Produce Buying Company (PBC), Kwaku Nkansah has reacted to protests by PBC workers over unpaid salaries.
Admitting financial struggles, he urged the agitated workforce to remain calm as efforts are being made to resolve the issue in two weeks.
Speaking on Adom FM’s morning show Dwaso Nsem Friday, Mr. Nkansah urged the union to rescind its decision to go on a demonstration.
“We are working tirelessly to ensure that this matter is resolved. Please remain calm. In two weeks, I hope we will see light at the end of the tunnel. Trust me, this too shall pass.” he begged.
Mr. Nkansah explained that the company’s financial woes are internal and not due to government debt.
“The government does not owe us; our debt is from within our own company and we are working hard to address it. We simply do not have the money at the moment,” he said.
The PBC MD disclosed that, there are ongoing discussions with stakeholders, including COCOBOD and various banks, to secure the necessary funds.
“We have met with COCOBOD and are exploring all avenues to raise the money we need. We owe the banks, and we are currently using seed funds to manage our operations,” he explained.
Mr. Nkansah said the debt crippling the company was inherited from previous administrations but assured that efforts are being made to pay.
“We are determined to turn this company around. I won’t allow PBC to collapse. The board is behind me, and we will ensure this issue is resolved” he added.
Mr. Nkansah also revealed that, he is not being paid as MD, underscoring the severity of the situation.
He said PBC needs 1.5 billion Ghana cedis from shareholders to cover administrative and other operational costs.
Expressing confidence in overcoming the current crisis, he expressed gratitude for the support from government and Minister of Finance, Amin Adam.
“We are speaking with our stakeholders for support, and I have assurances that COCOBOD will assist us. This is a challenging time, but we will address the issue and come out stronger,” he said.
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