The Minister of Food and Agriculture, Eric Opoku, has revealed that the Ghana Cocoa Board (COCOBOD) is struggling under a huge debt burden, which is affecting its operations.
Speaking on New York-based Adinkra Radio with Daakyehene Ofosu Agyemang, the minister disclosed that COCOBOD is set to pay a debt of GH¢5.37 billion in 2025.
Describing the situation as very worrying, he vowed to work hard to turn things around.
“COCOBOD is choking with huge debt. According to the handing-over notes, this year alone, the debt to be paid is GH¢5.37 billion. So, when COCOBOD secures funds for cocoa purchases this year, it will first be required to settle this debt before farmers can be paid at the producer price. This amount is not the entire debt owed by COCOBOD; it is only the portion due for payment this year,” the minister said.
He further revealed that an ongoing investigation is taking place at COCOBOD.
“We are aware of some malfeasance, but let’s wait until the investigation is completed. Once the report is out, we will all get to know what has transpired at COCOBOD. We are committed to changing the status quo and will ensure that happens,” he stated.
The minister also outlined plans to boost cocoa production to an appreciable level, as the NDC government did before leaving office in 2016.
“We want to reintroduce the distribution of free fertilizer to cocoa farmers and provide support during the pruning stage. Additionally, we will deploy more extension officers to assist the farmers. According to the Food and Agriculture Organization’s (FAO) standard, one extension officer should serve 500 farmers. However, in Ghana, one extension officer currently serves 1,765 farmers. We certainly need to address this issue,” he added.
Source: www.ghanaweb.com
