Minority raises alarm over COCOBOD's financial crisis

Ghanaian

The Minority in Parliament has expressed grave concerns regarding the financial stability of the Ghana Cocoa Board (COCOBOD) amidst its significant indebtedness to banks, potentially leading to its collapse.

According to the Minority, COCOBOD's projected loss of 2.6 billion Ghana Cedis in its 2024 budget raises alarming fears of defaulting on loan repayments, as highlighted by Eric Opoku,

Read full articlethe Minority Spokesperson on Food, Agriculture, and Cocoa Affairs.

“Do you know in this country where COCOBOD is in distress? Is choked by debts? COCOBOD has been taking loans from the banks and they are unable to pay?”

Contrary to President Akufo-Addo's recent statement on rice importation decline, Opoku contested this assertion, stating that rice imports into Ghana have not decreased as claimed.

Opoku further shed light on the plight of workers, revealing that around 35,000 employees of the Produce Buying Company (PBC) have lost their jobs due to the company's collapse.