Benso Oil Palm Plantation PLC (BOPP) has invested GH¢107 million in the development of a 3,030-hectare smallholder and outgrower oil palm project as part of efforts to strengthen local palm oil production and support rural livelihoods.
The company says 1,630 hectares of the project have already matured, while the remaining 1,400 hectares are expected to reach full maturity by the end of 2026, boosting future fresh fruit bunch (FFB) supplies to its processing operations.
The investment forms part of BOPP’s broader strategy to expand its outgrower network and enhance the sustainability of Ghana’s palm oil value chain.
Speaking at the company’s Annual General Meeting (AGM) in Takoradi, Board Chairman Dr. Alfred Mahamadu Braimah disclosed that the Outgrower Value Chain Fund has also approved financing for new outgrower projects that will benefit about 2,000 smallholder farmers over the next three years, with BOPP serving as the technical partner.
According to him, the initiative is expected to improve farmer productivity, strengthen raw material supply and create additional income opportunities for rural communities engaged in oil palm cultivation.
Dr. Braimah noted that BOPP maintained its position among the top-performing companies on the Ghana Stock Exchange in 2025 while retaining its Roundtable on Sustainable Palm Oil (RSPO) certification, reinforcing its reputation for sustainable and responsible palm oil production.
Revenue Growth Amid Rising Costs
Despite challenging domestic and global economic conditions, the company recorded a six percent increase in revenue in 2025, supported by favourable market prices for crude palm oil and palm kernel oil.
However, profit after tax declined by 10 percent to GH¢84.22 million from GH¢92.98 million in 2024.
Dr. Braimah attributed the drop in profitability to rising production costs across the industry, particularly higher prices paid for outgrower fresh fruit bunches, as well as increased expenses related to processing, labour, engineering works, factory spare parts and manufacturing overheads.
He noted that total processing and operational costs rose by 12 percent compared to the previous year.
“Despite these cost pressures, the company remained resilient through prudent financial management, operational efficiency and effective risk management systems,” he said.
Supporting Local Farmers and Communities
BOPP processed 121,787 metric tonnes of fresh fruit bunches during the year under review and injected approximately GH¢72 million into local economies in the Western and Central regions through the purchase of 33,343 metric tonnes of FFB from smallholder and outgrower farmers.
The company said its outgrower programme continues to play a critical role in supporting livelihoods while ensuring a reliable supply of raw materials for its operations.
Dr. Braimah also highlighted the company’s strong commitment to environmental stewardship, workplace safety and regulatory compliance, describing these areas as central to BOPP’s long-term sustainability strategy.
Community Investments Continue
As part of its corporate social responsibility initiatives, BOPP invested GH¢720,000 in community development projects in 2025.
Although lower than the GH¢1.6 million spent in 2024, the funds supported educational scholarships, road rehabilitation projects, healthcare infrastructure and the construction of a three-unit nurses’ accommodation facility.
The company said these interventions are aimed at improving living conditions in communities within its operational areas.
Call for Stronger Enforcement Against Illegal Imports
Dr. Braimah also welcomed government efforts to tackle illegal and grey imports of palm oil and related products, describing the issue as a major concern for local producers.
“We are aware of route changes towards the Upper East, the Togo corridor and other illegal routes without the payment of relevant taxes,” he said.
He argued that stricter enforcement of import regulations would create a more competitive environment for local producers, encourage investment in the sector and help Ghana reduce its dependence on edible oil imports.
According to industry estimates cited by the company, Ghana spends about US$200 million annually on edible oil imports.
BOPP believes stronger support for local production could help reduce this import bill while creating jobs and generating additional value within the domestic agricultural economy.
Dividend Declaration
Shareholders approved a final dividend of GH¢0.2420 per share for the 2025 financial year.
The payment comes in addition to an interim dividend of GH¢1.0627 per share that was declared during the company’s September year-to-date performance review.