The Minority in Parliament has expressed grave concerns regarding the potential collapse of the Ghana Cocoa Board (COCOBOD) due to its significant indebtedness to banks.
With COCOBOD’s projected budget for 2024 indicating a substantial loss of 2.6 billion Ghana Cedis, fears of potential defaults on loan repayments have intensified.
Following President Nana Akufo-Addo’s recent State of the Nation Address, Eric Opoku, the Minority Spokesperson on the Food, Agriculture, and Cocoa Affairs Committee of Parliament, highlighted the deteriorating condition of COCOBOD in an interview.
Opoku underscored the alarming financial distress of COCOBOD, remarking, “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?”
Eric Opoku contested President Akufo-Addo’s assertion in his State of the Nation Address that rice importation into Ghana decreased between 2021 and 2023.
“The President created an erroneous impression that importation of rice in Ghana has been on the decline. That is not true” he said.
Additionally, Opoku highlighted the difficulties encountered by workers, disclosing that around 35,000 employees of the Produce Buying Company (PBC) are currently jobless as a result of the company’s collapse.
