{"id":158026,"date":"2024-03-03T07:41:31","date_gmt":"2024-03-03T07:41:31","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/03\/cocobod-on-the-verge-on-collapse\/"},"modified":"2024-03-03T07:41:31","modified_gmt":"2024-03-03T07:41:31","slug":"cocobod-on-the-verge-on-collapse","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/03\/cocobod-on-the-verge-on-collapse\/","title":{"rendered":"COCOBOD on the verge on collapse"},"content":{"rendered":"

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The Minority in Parliament has raised serious concerns about the potential collapse of the Ghana Cocoa Board (COCOBOD) due to its considerable indebtedness to banks.<\/p>\n

According to the Minority, COCOBOD\u2019s 2024 budget anticipates a substantial loss of 2.6 billion Ghana Cedis, heightening fears of potential defaults on loan payments.<\/p>\n

Following President Nana Akufo-Addo\u2019s 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 in an interview with Citi News.<\/p>\n

Opoku expressed concern about COCOBOD\u2019s financial distress, stating, \u201cDo 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?\u201d<\/p>\n

Contrary to President Akufo-Addo\u2019s assertion in his State of the Nation Address that rice importation into Ghana decreased between 2021 and 2023, Eric Opoku contested this claim, stating, \u201cThe President created an erroneous impression that importation of rice in Ghana has been on the decline. That is not true.\u201d<\/p>\n

Furthermore, Opoku highlighted the challenges faced by workers, revealing that approximately 35,000 employees of the Produce Buying Company (PBC) are now unemployed due to the collapse of the firm.<\/p>\n

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The Minority in Parliament has raised serious concerns about the potential collapse of the Ghana Cocoa Board (COCOBOD) due to its considerable indebtedness to banks. According to the Minority, COCOBOD\u2019s 2024 budget anticipates a substantial loss of 2.6 billion Ghana Cedis, heightening fears of potential defaults on loan payments. Following President Nana Akufo-Addo\u2019s State of […]<\/p>\n","protected":false},"author":1,"featured_media":99690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-158026","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\nCOCOBOD on the verge on collapse - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/03\/cocobod-on-the-verge-on-collapse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COCOBOD on the verge on collapse - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Minority in Parliament has raised serious concerns about the potential collapse of the Ghana Cocoa Board (COCOBOD) due to its considerable indebtedness to banks. 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