The previous administration of COCOBOD handed down GHC10bn in debt to the new administration and it's affecting the efficiency of the board.
Joseph Boahen Baidoo, Chief Executive Officer of the Ghana Cocoa Board (COCOBOD) has announced that the organization heavily indebted to the tune of GH¢ 10 billion.
According to him, the indebtedness is the result of mismanagement by the previous administration headed by adding the situation is impeding
The huge debt recorded the by COCOBOD, the CEO said is due to the high level of organizational mismanagement under the Dr. Stephen Opuni led administration.
This he says is posing a lot of difficulty in the smooth running of the Board.
‘We’ve not been able to pay bonuses to workers as we have to work tirelessly to settle the debts of the old administration’ he told journalists in Accra.
Mr. also expressed his concerns over the reduction of cocoa output in the country in the past few years.
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“Under the John Agyemum Kufuor administration, we were producing 1 million metric tonnes of cocoa but now it has reduced to 778,000 metric tonnes. We are working hard to restoring the glory of the cocoa sector’
According to him, COCOBOD is burdened with a lot of issues but these two are the most pressing and the Board is collecting working to resolve them.
Mr. Baidoo assured that efforts are being made to settle the debt and by the end of September.