Cocoa Processing Company (CPC) PLC has interdicted seven employees following a special audit by the Ghana Audit Service that uncovered GHC4,373,355.04 in unaccounted funds linked to the company’s Consumer Cooperative Shop.
The audit, completed in March 2026, covered the 2023–2024 and 2024–2025 financial periods.
According to an interdiction letter seen by 3news, the irregularities involved products supplied to the union-operated shop located on CPC’s premises in Tema.
In the letter, signed by Managing Director Prof. William Coffie, the Audit Service reported that as of September 2025, the shop had accumulated GHC4.37 million in debt to CPC for products supplied.
The report also noted that the shop allegedly operated rent-free and did not pay for utilities during the period under review, warning that CPC’s financial position could suffer if the receivables were not recovered swiftly.
The interdicted staff are Theodore Matey Tackey – Chairman, Senior Staff Union, Abdul-Samed Adams – Chairman, Junior Staff Union, George Yanney – Principal Accounts Officer, and Daniel Mensah – Shopkeeper.
The rest are Genevieve Pawar – Product Research and Development Manager, James Ababio – Production Manager, Confectionery, and Michael Eshun – Chief Engineer.
Management issued formal audit queries to the affected staff, who were allowed to respond before the interdictions took effect. Some have denied wrongdoing and disputed aspects of the findings.
Prof. Coffie reviewed the responses but determined that further investigation was necessary “to arrive at a justifiable conclusion,” while also complying with the Audit Service’s recommendation to recover the outstanding amount.
Per the interdiction notices, the affected officers have been barred from making further withdrawals from the Consumer Shop’s bank accounts.
They must also submit to a comprehensive stock-taking exercise led by the Audit and Accounts Departments and supervised by the Security Coordinator.
The seven employees are required to submit handover notes to management. They will remain on two-thirds salary pending the outcome of the investigation, in line with the company’s collective agreement.
The Ghana Audit Service has urged CPC to recover all outstanding receivables immediately and ensure that rent, water, and electricity charges are properly accounted for moving forward.
