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SPEECH DELIVERED AT THE 2020 ANNUAL GENERAL MEETING OF THE GREATER ACCRA POULTRY FARMERS ASSOCIATION (GAPFA) HELD AT THE ETHEREAN MISSION CONFERENCE ROOM ON SATURDAY, OCTOBER 23, 2021 AT 10:00AM BY ING. MATTHEW ADOMBIRE (ACTING PRESIDENT)
A very warm welcome to you Fellow Council Members, Members of the Association, Executive Secretary and all invited guests to the 2020 Annual General Meeting.
Before we commence the proceedings, may I introduce my colleagues on the Council and other senior officials of the Association to this august gathering . (Introductions)
This meeting seeks to perform two main activities in the calendar year of the Association and these include:
1. The audited financial statements of the Association for the year ended 31st December, 2020 along with the Management’ Report , which have already been circulated to you and will be presented by our External Auditors
2. Re-election of existing Council Members and New Members unto the Executive Council.
I would like to give an overview performance of the Association for the year 2020 and the environment in which it operates.PERFORMANCE REVIEW
This day marks a very important day in the activities of the Association because it affords us as a body to assess the performance of the Association of the past year and gives us the opportunity to strategize for the years ahead.
In the year 2020 we realized a Gross Income of GHC 57,850,187.00 as against GHC 50,617,324 for the year 2019
Total cost of Sales for the year 2020 amounted to GHC 55,236,449 as against GHC 47,545,843 for 2019.
Net Operating Profit before Tax for the year 2020 was GHC 456,409.00 as against GHC 816,872.00 for 2019.
Net Operating Profit after Tax translated to GHC 158,885.00 as against GHC
656,428.00
Total Assets of the Association as at December 31, 2020 amounted to GHC
19,041,652.00 as against GHC 15,801,095.00 for the year 2019.
Accumulated fund for the year 2020 amounted to GHC 16,171,352.00 as against GHC 13,978,294.00
Net Cash flow from Operating Activities for the year under review amounted to GHC 1,470,802.00 as against GHC 341,798.00
Net cash used in investing activities amounted to GHC 273,533.00 for the year 2020
as against GHC 31,730 .00 for the year 2019.
Net Increase in cash and cash equivalents increased from GHC 1,371,75 2.00 to GHC
3,183,821.00
Cash and cash equivalents at the end of the year amounted to GHC 3,981,7 24.00
as against GHC 797,903.00 for the year 2019
Total quantities of feed produced for 2020 amounted to 657,097 bags as against
592,519 bags for 2019.
The total feed sold in 2020 amounted to 657,805 bags as against 590,676 bags for
2019.THE EXECUTIVE COUNCIL
The membership ofthe Council stands at eight (8). The reason being that seven (7) failed to attend four (4) consecutive Executive Council meetings and have been removed according to Regulation 13.
The regulation 13 of the Association says that a Council member is removed from office, if one absents himself or herself from four consecutive meetings without reasonable excuse.UPDATE OF COURT PROCEEDINGS:
As members were duly informed during the last Ordinary General Meeting held on September 11, 2021 the former President sent the Association to court.
On the substantive case, it was adjourned to November 8, 2021. With respect to the contempt of court, that case has also been adjourned to November 18, 2021at 10 am. Since it is being handled by our lawyers, we shall leave it at that.APPOINTMENT OF AN EXECUTIVE SECRETARY
On January 15, 2021 Mr. Isaac Awuzah was appointed as the new Executive Secretary after a vigorous search from a pool of potential applicants and he has since been discharging his responsibilities with all diligence.
APPOINTMENT OF A FEED NUTRITIONIST
I am glad to inform members that a feed Nutritionist by name Mr. Elvis Amanor was appointed on July 05, 2021 We pray he contributes his best to the growth of GAPFA.
We are in the process of hiring a feed mill assistant.PROJECTIONS FOR THE YEAR 2021
• To finalize the selection of a vendor for the supply of a new feed mill machine.
• To conclude with ABSA on the credit facility for the project at Akotsi
• To secure temporal warehouses to stock key major raw materials
• To automate the purchases of feed by members• To partner with producers of premixes and import our premixes in bulk.
CONCLUSION:
In conclusion, I would like to thank members for standing by us through the turbulent times.
I would like to assure you all gathered here and through zoom that, we shall take the best decisions in the best interest of the Association to ensure that members get the required feed for their birds.
Thank you,ING. MATTHEW ADOMBIRE
(ACTING PRESIDENT)