The Ranking Member of the Food, Agriculture, and Cocoa Affairs Committee of Parliament, Eric Opoku, has insisted that the Ghana Cocoa Board must account for the $1.3 billion Cocoa Syndicated loan it took in 2022.
According to him, before the new $800 million that is expected this year is approved, the COCOBOD must give proper accounts.
According to him, COCOBOD has been saddled with gross mismanagement over the years.
“What we do is that before we approve the new facility, they have to convince us as to how they used the previous one. And probably, it is one of the reasons they haven’t been able to bring the facility to us, why they are. We’ve heard of the GH¢800 million arrangements, but it hasn’t come to parliament yet.
“When it comes, they must be answerable for how they utilized the first facility they took, the GH¢1.3 billion. And if we are not convinced that that money was used in the best interest of our cocoa farmers and that matter Ghanaians, they will have difficulty getting approval for this one,” he was quoted by citinewsroom.com.
Ghana’s COCOBOA is currently seeking to borrow $400 million from cocoa traders to finance its operations for the 2023/2024 season as the Syndicated loan drags.
Eric Opoku opined that the arrangement is not favourable for the organization as it is already struggling to pay its debts.
“For six continuous years, COCOBOD has been making losses. How can they set aside money to finance their activities? Don’t forget that the loan that we take, we don’t use all the money to buy cocoa. Part of it is used to pay their salary, part of it is used to pay their administrative cost.
“And the Minister for Finance told us that they are using 53% of the total proceeds from cocoa as administrative costs and just something above 40% goes to the farmers. So, you can imagine what is happening. All mismanagement and COCOBOD is now undischarged, insolvent,” he said.
Perfect work you have done, this web site is really cool with superb information.
Hey! This post couldn’t be written any better! Reading through this post reminds me of my old room mate! He always kept talking about this. I will forward this page to him. Pretty sure he will have a good read. Many thanks for sharing!
Howdy this is somewhat of off topic but I was wanting to know if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding know-how so I wanted to get advice from someone with experience. Any help would be greatly appreciated!
Thanks for all your efforts that you have put in this. very interesting info .
This really answered my drawback, thank you!
Somebody essentially help to make seriously articles I would state. This is the very first time I frequented your web page and thus far? I surprised with the research you made to create this particular publish extraordinary. Wonderful job!
I got good info from your blog
I am continuously browsing online for articles that can benefit me. Thanks!
Very good blog! Do you have any suggestions for aspiring writers? I’m planning to start my own website soon but I’m a little lost on everything. Would you advise starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m totally overwhelmed .. Any tips? Thanks a lot!
Hello there, just became aware of your blog through Google, and found that it is truly informative. I’m going to watch out for brussels. I will appreciate if you continue this in future. Many people will be benefited from your writing. Cheers!
For the reason that the admin of this web site is working, no question very rapidly it will be well-known, due to its quality contents.
I’m no longer positive the place you are getting your information, but good topic. I needs to spend some time finding out more or understanding more. Thanks for great info I used to be on the lookout for this information for my mission.
I’m not sure the place you’re getting your info, however great topic. I needs to spend some time learning more or figuring out more. Thank you for excellent info I was in search of this info for my mission.
Greetings! I’ve been reading your website for a long time now and finally got the bravery to go ahead and give you a shout out from New Caney Texas! Just wanted to tell you keep up the good work!
Hi there, I read your blogs on a regular basis. Your writing style is witty, keep up the good work!
Hi, I log on to your blog on a regular basis. Your humoristic style is awesome, keep up the good work!
Hello, I check your blog like every week. Your humoristic style is witty, keep up the good work!
An intriguing discussion is definitely worth comment. I believe that you need to write more on this issue, it might not be a taboo subject but usually people do not talk about these topics. To the next! All the best!!
An interesting discussion is worth comment. I think that you should write more on this subject matter, it might not be a taboo matter but typically people do not discuss these issues. To the next! Kind regards!!
Hi, I read your blog regularly. Your writing style is awesome, keep it up!
A fascinating discussion is worth comment. There’s no doubt that that you should write more on this subject, it may not be a taboo subject but typically folks don’t discuss these issues. To the next! Best wishes!!
An interesting discussion is definitely worth comment. There’s no doubt that that you ought to publish more about this subject, it might not be a taboo matter but usually people don’t speak about these topics. To the next! Best wishes!!
A fascinating discussion is worth comment. I think that you need to publish more on this subject matter, it might not be a taboo subject but generally folks don’t discuss these subjects. To the next! All the best!!
A fascinating discussion is worth comment. I do believe that you need to publish more about this topic, it may not be a taboo subject but typically people don’t talk about such topics. To the next! Cheers!!
obviously like your web-site but you need to check the spelling on quite a few of your posts. Several of them are rife with spelling issues and I in finding it very bothersome to inform the reality then again I’ll surely come back again.
Thanks for a Interesting item; I enjoyed it very much. Regards Sang Magistrale