The Managing Director of Produce Buying Company (PBC) Limited, Alhaji Seidu Yonye, has sounded the alarm over the firm’s dire financial situation, warning that it is “on its knees” due to ballooning debts exceeding GH¢670 million.
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Speaking on TV3’s Hot Issues on Sunday, June 29, 2025, Alhaji Yonye revealed that while he had not received formal financial documentation from the previous management, research conducted through PBC’s platforms paints a bleak picture. “We haven’t received official figures, but based on our internal findings and environmental cues, PBC is on the brink of collapse,” he said.
He noted that commercial bank debts alone account for over GH¢230 million, in addition to domestic liabilities and salary arrears. “This debt includes loans from commercial banks, unpaid salaries, and domestic obligations. It’s not a healthy state at all,” he explained.
More concerning, according to him, is the fact that no audits have been conducted since 2023, despite the company owning assets and having ongoing liabilities. “Even if the company wasn’t operational, prudence demands that its books be audited. We must assess its liabilities and assets accurately to move forward,” he stressed.
Despite the grim state of affairs, Alhaji Yonye expressed optimism about the company’s future under the right leadership. “With strategic vision and government support, I believe we can turn PBC around. Leadership, vision, and effective strategy are key.”
PBC, once a strong arm of Ghana’s cocoa trade and a subsidiary of COCOBOD, has struggled since 2024 to raise financing for cocoa bean purchases, mainly due to its strained relationships with lenders. Reports of potential liquidation have intensified amid mounting financial and operational challenges.
