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NewsParliament raises concerns about COCOBOD's projected loss of GHS2.6b

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Parliament raises concerns about COCOBOD’s projected loss of GHS2.6b

Parliament has revealed that the Ghana Cocoa Board (COCOBOD) is projected to report a loss of GHS2.6 billion.

This raises concerns because such a significant loss could make it challenging for COCOBOD to meet its loan payments on time.

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In a post shared by @StatsGH on X, “COCOBOD is expected to declare a loss of GHS2.6 billion. This raises concerns about possible challenges in meeting loan payments.”

In the aftermath of President Nana Akufo-Addo’s State of the Nation Address earlier this week, Eric Opoku, the Minority Spokesperson on the Food, Agriculture, and Cocoa Affairs Committee of Parliament, voiced his apprehensions about the deteriorating state of COCOBOD during an engagement with the media

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Opoku expressed concern about COCOBOD’s financial distress, stating, “Do you know in this country where COCOBOD is in distress? Is choked by debts? COCOBOD has been taking loans from the banks and they are unable to pay?”

Contrary to President Akufo-Addo’s assertion in his State of the Nation Address that rice importation into Ghana decreased between 2021 and 2023, Eric Opoku contested this claim, stating, “The President created an erroneous impression that importation of rice in Ghana has been on the decline. That is not true.”

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