Seven employees of Cocoa Processing Company (CPC) PLC have been suspended from duty following the outcome of a special audit that uncovered significant financial discrepancies linked to the company’s consumer cooperative shop in Tema.
Those affected include Theodore Matey Tackey, Abdul-Samed Adams, George Yanney, Daniel Mensah, Genevieve Pawar, James Ababio, and Michael Eshun.
The action follows findings by the Ghana Audit Service, which identified GH¢4,373,355.04 as outstanding and unaccounted for in relation to goods supplied to the union-run shop. The audit covered operations over the 2023–2024 and 2024–2025 financial periods and was completed in March 2026.
According to details from the audit, the consumer shop—managed by staff unions and located within CPC’s premises—had accumulated a substantial debt to the company by September 2025. Auditors also flagged concerns that the facility allegedly operated without paying rent or utilities, raising further questions about oversight and internal controls.
Management of CPC is said to have moved quickly after receiving the report. The affected staff were issued formal queries and asked to explain their roles in the irregularities. While some reportedly challenged aspects of the findings, company leadership concluded that the responses did not adequately address the issues raised.
In a letter dated May 11, 2026, Managing Director Professor William Coffie indicated that further investigations were necessary to fully establish the facts and determine accountability. He noted that the decision to interdict the officers was in line with internal procedures and the recommendations of the audit.
As part of the measures imposed, the suspended employees have been barred from accessing the consumer shop’s bank accounts. They have also been directed to assist in a comprehensive stock-taking exercise to be undertaken by the company’s audit and accounts teams under supervision. Additionally, they are required to submit handing-over notes while remaining on two-thirds of their salaries pending the outcome of the investigations.
The audit report warned that failure to recover the outstanding amount could negatively impact CPC’s financial health. It further recommended that the company take immediate steps to retrieve the funds and ensure proper accounting for rent, electricity, and water usage going forward.
The development has sparked concern within the company, particularly given the involvement of senior union figures and key operational staff. Investigations are ongoing as management works to determine the full extent of the discrepancies and any potential breaches of company policy.
