Managing Director of the Produce Buying Company (PBC), Derek Kwaku Nkansah, has disclosed that the company has not held any market share for the past year, describing the situation as regrettable.

He, however, assured that by the end of the month of June, PBC would undergo significant changes and begin an upward trajectory.

Speaking on the JoyNews AM show, he stated that “we are going to start buying at the end of this month. The conversations are ongoing. When I started the conversation, I also added that the little signs were there since 2000, and that is because we have never had working capital.

“Working capital is something you need when you are doing this business. So, we do not have working capital; all we have done is go to the bank, borrow, finance costs hitting us so hard, and then also get seed funds, which are inadequate and also not timely. So, these are the two key challenges that we have that, bedevils our industry, and by extension, strongly, that has been challenging PBC”.

Mr Derek Kwaku Nkansah noted that the Produce Buying Company (PBC) is currently in discussions with COCOBOD and will soon begin purchasing shares.

“Those are the conversations that we are having at the moment with COCOBOD and the rest, and we are going to start buying. So, PBC is back,” he noted.