Accra, Ghana – The Chief Executive Officer of Ghana Cocoa Board (COCOBOD), Dr. Ransford Annetey Abbey, has revealed that approximately 200 containers of jute sacks and agrochemicals meant for cocoa operations are currently untraceable. Despite documents indicating the containers should be at Ghana’s ports, their actual whereabouts remain unknown.
The National Investigations Bureau (NIB) has launched an investigation into the disappearance, which could result in significant financial losses for the already debt-burdened institution. COCOBOD owes agrochemical suppliers nearly $400 million, with some shipments never delivered to the organization’s stores. Dr. Abbey described the situation as alarming, questioning why anyone would deliberately cause financial loss to an institution that’s already “bleeding”.
The COCOBOD CEO also highlighted instances of excessive procurement, citing the purchase of 75,000 bales of jute sacks at a cost of over $45 million, despite having over 111,000 sacks in storage. This decision has raised concerns about the rationale behind such purchases amid declining cocoa production ¹.
COCOBOD’s financial health is under scrutiny, with the institution’s debt standing at GHC33 billion. Dr. Abbey emphasized the need for improved procurement procedures to prevent further financial mismanagement and redirect funds to benefit cocoa farmers.
Sankofaonline
