CashPro Company Limited

CashPro Company Limited was incorporated as a limited liability company in 1990. The company was set up to buy cashew nuts and spices. The company was originally known as Cashew and Spices Products limited until June 1998 when the name was abbreviated to Cashpro. Cashpro is currently one of the 20 companies who buy cocoa internally.

The company is wholly owned by Ghanaian entrepreneurs with varied backgrounds in Agronomy, Economics, Finance and Transport. Cashpro has so far operated successfully in commodities trading and acquired expertise in international marketing and export of agricultural produce.

Cashpro’s line of business includes the following:

1. Haulage of Goods
2. Development of Real Estate
3. Financial Market Activities
4. Purchasing and Marketing of Agriculture produce (domestic and export).

The activities of the company are controlled by the Board of Directors and the day to day implementation of policies handled by the Managing Director assisted by his two deputies and General Managers for Cocoa, Finance and Administration. Each of the subsidiary companies is headed by a General Manager who reports to the Managing Director of Cashpro Company Limited. Policy decisions are taken at Board level and these include investments, allocation of resources, marketing strategies and product development.

Cashpro was one of the companies that was registered and commenced the business of buying cocoa internally during the 1993 Light Crop Cocoa Season. Operating with 30 societies, Cashpro purchased 2,372.11 metric tones of cocoa beans valued at 730,609,880.00 cedis.

By the end of 1998 Cashpro was operating 600 societies, each well equipped with qualified staff and tools of the trade. During the 1997/98 season, Cashpro purchased a total of 65,860 metric tones of cocoa beans valued at nearly 120 billion cedis. The table and charts below depict the company’s performance from 1993 to date.

Cashpro is a proud member of Ghana Club 100, a club of the top 100 companies in the country. Cashpro was ranked 24th in terms of turnover for 1995 and 17th for 1998. It also placed 9th by percentage change in pre-tax profits for the same period.

Acquisitions

In line with its policy of maintaining the leading position in the various sectors it operates in, Cashpro registered four subsidiary companies in 1998 to deal with the various lines of operation.

They are:

• Cashtrade Company Limited
• Comtrans Company Limited
• Cashfarm Company Limited
• Cashred Company Limited

Cashpro has also acquired majority shares in Premus Company Limited , a licensed coffee and cocoa buying company.

Cashtrade Company Limited deals with the purchasing and marketing of agricultural produce such as cashew nuts, cereals and legumes, medicinal plants and seeds.

Comtrans Company Limited is a haulage company which is owned by Cashpro ltd. and other shareholders. Its activities include, among others, haulage of cocoa and other commodities.

Cashfarm Company Limited operates and manages the farms of the holding company. Currently, 350 acres of cashew nuts have been cultivated at Gomoa Mprumem in the Central Region while 500 acres of cereals and legumes have been cultivated at Gomoa Abaasa also in the Central Region on an out-grower basis.

Cashred Company Limited is a Real Estates development company. Cashpro, the holding company, has acquired large tracts of land in various parts of Accra to be utilised for housing estates. Cashred will start full operation by the end of 1999.

Premus Company Limited is a licensed cocoa and coffee buying company. With the acquisition of this company, Cashpro now purchases coffee for export.