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COCOBOD ACCUSED OF NOT PAYING LBC’S AS FARMERS GO HUNGRY

COCOBOD has been summoned to Parliament over non-payment to cocoa farmers. The farmers were due to be paid by the Licensed Buying Companies (LBC) for the 2020/2021 harvest, but they have not received any money according to sources on the ground.

A statement by Mr Kofi Adams, the MP for Buem. highlighted the issue, in a document titled “The Plight of Cocoa Farmers in the Buem Constituency Despite $1.3 billion loan facility to the Ghana Cocoa Board.”

First Deputy Speaker, Mr Joseph Osei-Owusu acted on this information to issue the directive.
The statement from Mr Adams alleges that the cocoa farmers have not been paid by LBC’s for cocoa purchased over 2 months ago.
Yet the loan COCOBOD received was to provide liquidity for this purpose.

“It was Parliament which approved the syndicated facility for the purpose of purchasing cocoa for the (2020/21) crop,” Mr Adam argued.

The impact of the non-payment ripples through the economy as the money is used for paying school fees, buying household necessities and also to ensure the farmer is able to prepare next seasons crops.

Deputy Majority Leader and MP for Efutu Alexander Kwamina Afenyo-Markin, refuted these claims from Mr Adams at a news conference, and dared him to name the LBC’s who have not paid as he said COCOBOD had in fact settled all invoices that had been raised.

It seems odd that Mr Adams should raise such a problem if it was baseless, but hopefully there will be some clarity soon, and perhaps the LBC’s will weigh in with their own comment.

Author

  • Nick Baskett

    organisation:

    Nick Baskett is the editor in Chief at Bartalks. He holds a diploma from the Financial Times as a Non Executive Director and works as a consultant across multiple industries. Nick has owned multiple businesses, including an award-winning restaurant and coffee shop in North Macedonia.

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