Vice President of IMANI Africa,\u00a0Bright Simons\u00a0has insisted that the United Bank of Africa [Ghana] indeed participated in the cocoa syndication program of COCOBOD after it pledged to pay an amount of $4.33 million for cocoa purchases in 2022.<\/p>\n This comes after UBA Ghana dismissed the assertion by describing it as \u2018categorically false\u2019 while adding that it had not participated in any of COCOBOD\u2019s cocoa syndication projects.<\/p>\n \u201cUBA Ghana wishes to clarify that it has not participated in any of COCOBOD\u2019s cocoa syndication projects, as insinuated in the publication. Therefore, any suggestion that the bank made a promise it does not intend to honor in relation to a cocoa syndication project is categorically false. Besides, since when did a promissory note become a contract for loan if that is the assertion?,\u201d the Bank earlier said in a response on December 13, 2023.<\/p>\n In a rejoinder to the response by UBA Ghana,\u00a0Bright Simons\u00a0insisted on his claim and shared documentary evidence to the effect that the Bank had allegedly participated in the cocoa syndication program of COCOBOD while stating, \u201ccategorically that UBA is being disingenuous in their response.\u201d<\/p>\n \u201cWe have documentary evidence that UBA participated in the 2022 Cocobod syndication program by way of the accordion provision but did not eventually pay up,\u201d the IMANI Vice president insisted.<\/p>\n \u201cFrom the documentary evidence available to us, UBA did enter the syndicated program after it had closed but subsequently refused or was unable to disburse. We also have evidence of Cocobod management claiming to have instructed the relevant department to consider triggering the lender default provision,\u201d the rejoinder read in part.<\/p>\n \u201cThe importance of this whole affair is in relation to Cocobod\u2019s ongoing creditworthiness challenges,\u201d it concluded.<\/p>\n See the document shared by\u00a0Bright Simons\u00a0in his rejoinder below:<\/strong><\/p>\n pic.twitter.com\/onf04mobGm<\/a><\/p>\n \u2014 Bright Simons (@BBSimons) December 13, 2023<\/a><\/p>\n<\/blockquote>\n pic.twitter.com\/onf04mobGm<\/a><\/p>\n \u2014 Bright Simons (@BBSimons) December 13, 2023<\/a><\/p>\n<\/blockquote>\n Source: www.ghanaweb.com<\/p>\n <\/p><\/div>\n![\"\"\/](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/187\/18711453.jpg\")
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