President John Dramani Mahama has appointed Prof William Coffie as the acting Managing Director of the Cocoa Processing Company Limited (CPC).
This crucial appointment comes at a time when the CPC, a vital component of Ghana’s cocoa value chain, is facing significant financial and operational challenges.
Prof Coffie is a distinguished financial economist, chartered accountant, and chartered marketer, bringing over two decades of extensive expertise in accounting, finance, investment, and economics.
He is currently a Professor of Accounting and Finance and serves as the Head of the Department of Accounting at the University of Ghana Business School.
He previously served as a senior lecturer at the University of Wolverhampton, a lecturer at Birmingham City University, and a visiting professor at Hong Kong City University.
His academic credentials include a PhD in Financial Economics from Birmingham City University, UK, alongside advanced degrees in finance, accountancy, and marketing, gained from institutions across Europe, Asia, and Africa.
Prof Coffie shares a deeply personal connection with the Ghana cocoa industry that spans generations. His grandfather was a founding staff member of the Ghana Cocoa Marketing Board (CMB), now Ghana Cocoa Board (COCOBOD), in 1948.
His father continued this legacy, serving as a Depot Manager for the Cocoa Marketing Board in Sefwi Awaso from 1967. Other family members have held leading roles within the industry.
Prof Coffie himself cultivated his first cocoa farm in 1994, grounding his academic and policy insights with firsthand agricultural experience.
This appointment comes as CPC grapples with a history of reported losses and severe operational difficulties.
As the company responsible for transforming cocoa beans into semi-finished and finished products, its revitalization is urgent to regain profitability, modernize infrastructure, and expand market reach.
Prof Coffie is uniquely positioned to lead this turnaround. As part of his research works, he has conducted in-depth investigations into the financial and operational challenges of both COCOBOD and CPC.
His proven track record in financial leadership, strategic management, and resource mobilization—demonstrated through his success in securing grants, initiating transformative projects at the University of Ghana, and consulting for prestigious institutions like the African Development Bank and Ministry of Finance—makes him an ideal leader to steer CPC back to sustainable growth and profitability.
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