Cocobod has abysmal record as far as cocoa production is concerned – Akandoh
Published:
3 months ago
Source:
3News
Mintah Akandoh
Juaboso Lawmaker Kwabena Mintah Akandoh has accused the Ghana Cocoa Board (Cocobod) of performing abysmally in the area of cocoa production.
"Cocobod has abysmal records as far as cocoa production is concerned," he said while responding to the decision of the Cocobod to wean itself off loans. Prior to his comment, the Minority in Parliament had raised concerns over COCOBOD's financial health, claiming that international banks have rejected the organisation's request for a loan to purchase cocoa for the 2024/2025 crop season. According to the Minority, this development is a significant indicator of the declining confidence that global financial institutions have in COCOBOD under its current Management. The Minority, in a statement signed by its leader, Dr Cassiel Ato Forson, argued that the refusal of the loan request highlights the mismanagement and poor financial decisions that have plagued COCOBOD in recent years. They noted that COCOBOD has traditionally relied on offshore syndicated loans to finance the purchase of cocoa beans, but the rejection by international banks this time around points to a loss of trust in the organisation's ability to manage its finances effectively.