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Ghana Cocoa Board WAMCO to be liquidated to pay COCOBOD debt

WAMCO has been forced to shutdown operations since 2014 due to its inability to pay for supplies from COCOBOD.

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Ghana Cocoa Beans play

Ghana Cocoa Beans

Due to the 45 million dollar debt owed COCOBOD by the West African Mills Company Limited, government has began processes to liquidate assets of the company to defray the debt, according management of Ghana COCOBOD.

WAMCO has been forced to shutdown operations since 2014 due to its inability to pay for supplies from COCOBOD.

Public Affairs Manager of COCOBOD, Noah Amenyah refuted assertions that it was the ineffective leadership of COCOBOD CEO  Dr. Stephen Opuni that led to WAMCO’s collapse.

According to him, “COCOBOD cannot continue to  supply cocoa beans to WAMCO to process and not pay. We have stopped supplying them for some time now,”

Noah Amenyah also sought to correct the impression that COCOBOD manages WAMCO and hence led to its collapse.

READ MORE: 'Enough is enough,' ICU demonstrates for Opuni's removal

” COCOBOD does not run WAMCO and therefore cannot be blamed for its collapse. We only supply them beans. And you don’t expect me to continue giving you supplies when you owe over 30 million dollars since 2003.”

Mr. Amenya emphasized that plans are far advanced to liquidate assets of WAMCO in order for COCOBOD to defray its debt.

 “Government has since 2014 begun a process to liquidate WAMCO to enable it pay off the debts that it owes COCOBOD and other companies,” he stated.

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