The Buffer Stock Company has debunked claims that it owes suppliers more than two years in arrears. CEO of the company, Hanan Abdul-Wahab, said the claim is false.
The National Food Buffer Stock Company has been facing allegations of longstanding debts and delayed payments, leading to suppliers staging a protest at the company’s headquarters.
During an exclusive interview on the Happy Morning Show with Samuel Eshun, the CEO of the Ghana Buffer Stock acknowledged that if the company had truly owed suppliers substantial longstanding debts, it would have potentially resulted in school closures.
He said, “I want to put this on record that we don’t owe any supplier over two years arrears. We don’t have an invoice that has exceeded two years with us as we speak, and that is a fact. If we did we would have shut down schools by now.”
He acknowledged the grievances of the association as he described the action as “the first of its kind” having enjoyed a six-year working relationship with the suppliers since 2017. He said that the delay in payments prompted the suppliers’ decision to take their concerns directly to the company’s office.
Abdul-Wahab further indicated that to resolve the issue, the Minister for Food and Agriculture has engaged with the suppliers, providing assurances and setting timelines for the release of funds.
Abdul-Wahab reiterated the Minister’s actions and expressed gratitude for the suppliers’ cooperation, noting, “They have since respected the Minister’s plea and have decided to call off the picketing because the Minister had promised them that by the 17th, they will get their funds released to them. So far so well. Various stakeholders have met and on the side of the management of Buffer Stock we have already started preparing their payment structures because we know whatever it is we’ll be able to pay them on the 17th of this month so that they’ll be able to go back and continue with their suppliers again.”