Pulse.com.gh logo

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.

  • Published: , Refreshed:
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.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Taxes In Ghana Don't rejoice; VAT has been hiked through ‘backdoor’ –...bullet
3 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
4 Education Top 5 private high schools in Ghana according to WAECbullet
5 Kwabena Duffuor Official: Duffuor’s assets not being auctionedbullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Uche Ofodile Captain Planet’s wife heads MTN Liberiabullet
8 Number 12 Panic withdrawals hit savings & loans company...bullet
9 2018 Budget Review Prepare to pay 35% tax if you earn...bullet
10 Menzgold Ghana Investment company closes down its Gold...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Plane Crash Starbow suspends operations following plane crashbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Money Alert Meet Africa's richest womanbullet
6 Support Finance minister buys Kantanka carbullet
7 Tech 6 reasons you should buy an iPhone SE instead of any of...bullet
8 Bozoma Saint John 10 quotes from Uber top official,...bullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet
10 Video We are determined to move Ghana beyond aid - Bawumiabullet