Benso Oil Palm Plantation makes profit of GH¢8.09m

The Benso Oil Palm Plantation Limited made a profit after tax of GH¢8.09 million in 2016 as against GHȼ8.16 million in 2015.

Mr Ishmael Yamson, the Chairman of Board of Directors, announced this at the Annual General Meeting (AGM) of the company at Takoradi.

He described the performance of the company as satisfactory despite the challenging business environment including; the recently introduced 12.5 tax which culminated into an effective tax rate of 24.43 per cent of profit before tax.

The tax, he said was not business friendly especially for agri-business like BOPP, which operated outside the regional capital and created employment and livelihood for smallholder out-growers associated with it.

Mr Yamson said the company paid a total of GHȼ19.41 million to smallholder out-growers from its operational area during the year under review.

He said the company under its scholarship scheme awarded scholarships to twenty-three senior high school students from four communities around the company.

The figure, he indicated brings to 67 the total number of students who had benefited from the scheme since its inception.

The company has proved to be a model for sustainable agri-business which should be replicated for Ghana’s agriculture revolution, he said.

Source: GNA