Chief Executive of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Abbey, has revealed that the institution’s financial exposure to cocoa road contracts has reached GH¢21 billion.
Speaking on Asempa FM’s Ekosii Sen show, Dr. Abbey disclosed that the government has directed COCOBOD to refocus on its core mandate of improving the cocoa sector and withdraw from road construction projects.
“We are no longer in charge of cocoa roads,” he stated.
“The government’s decision is for COCOBOD to focus on its core functions. Our exposure to cocoa roads is GH¢21 billion, but the Ministry of Roads and Highways already has a commitment of GH¢67 billion, and COCOBOD’s financial strength cannot accommodate this.”
Dr. Abbey clarified that any future involvement in road infrastructure would be handled by the Roads Ministry, once COCOBOD’s financial position strengthens.
He further explained that the identification and prioritisation of critical cocoa roads will now be the responsibility of the government, allowing COCOBOD to channel its resources into boosting cocoa production and value addition.
“All liabilities arising from the road contracts will be addressed in collaboration with the Finance Ministry,” he added.
Source: Farida Seidu| Adomonline
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