The Department of Co-operatives has commended Kuapa Kokoo Co-operative Cocoa Farmers and Marketing Union Limited (KKFU) for operating a hugely transparent administration.
The institution also lauded the farmer based union for presenting sound and impeccable financial statements yearly.
In a release copied to the Ghanaian Observer Newspaper ahead of the Annual General Meeting (AGM) of the farmer union in Kumasi last Wednesday, Charles Kwaku Boateng, Deputy Registrar of Co-operatives said the financial statements of Kuapa Kokoo give a true and fair view of the financial position of the company.
He noted that his outfit has obtained all the information and explanation which to the best of his knowledge and belief were necessary for the purposes of audit.
Speaking at the 25th AGM later, Mrs Fatima Ali, President of the Kuapa Kokoo Farmers Union and Marketing Union Limited (KKFU) revealed her outfit in 2017 had a total asset amounting to Thirty-eight million fifty-tree thousand one hundred and eighty-eight cedis (38, 053, 188.72).
But in 2018, she noted the KKFU has grown the assets base again to Forty million three hundred and twenty one three hundred and fifty nine cedis (40, 321,359.98).
These assets, Madam Fatima intimated included trade receivables and cash as well as cash equivalents.
The total income of the KKFU in 2018, the President stated stands at Twenty eight million four hundred and fifty five thousand nine hundred and fifty one cedis (28, 455,951.44).
This figure, the dynamic leader touted was an improvement of last year’s total income which stood at twenty seven million six hundred and tree thousand two hundred and thirteen cedis (27, 603, 213.85).
On his part, Nelson Adubofuor, Executive Director, KKFU said the union will continue to facilitate the raising of high yielding cocoa seedlings just as it did last year where a total of 95, 200 cocoa seedlings were raised in Samreboi, Dadieso, Wassa Akropong and Sankore societies.
He also mentioned the determination of the farmer union to increase distribution of yam-setts to its numerous farmer groups across the country.
This, he noted will be a repeat of what the union did last year as it distributed over 100, 000 yam seeds to 279 persons within 27 zones in 12 societies across Ghana.
He expressed commitment to intensify monitoring operations by its IMS managers as well as Environmental Officers to access the implementation of corrective actions by extension officers and farmers across selected zones in their societies.