Minority Slams Govt Over GH¢10bn Cocoa Debt
The Minority in Parliament has demanded immediate payment of over GH¢10 billion in arrears owed to cocoa farmers, accusing the government and the Ghana Cocoa Board (COCOBOD) of gross neglect. According to 3News, the Ranking Member on Parliament’s Food, Agriculture and Cocoa Affairs Committee, Isaac Yaw Opoku, stated that the delay has plunged farmers into severe financial hardship.
The Licensed Buying Companies (LBCs) are unable to pay farmers because COCOBOD has failed to reimburse them, leaving the companies cash-strapped. As a result, farmers are being forced to sell cocoa on credit, at discounted prices, or return home with unsold produce. According to Joy News, Opoku emphasized that the situation poses serious risks to the cocoa industry and the national economy.
Opoku accused the government and COCOBOD of failing to honor campaign promises made ahead of the December 7 elections, recalling assurances of producer prices between GH¢6,000 and GH¢7,000 per bag. However, the current farmgate price stands at GH¢3,625 per 64kg bag, and farmers are not even being paid this amount. “Cocoa farmers are not beggars; paying them on time is a duty, not a favour,” Opoku stressed.
The Minority has demanded immediate payment to cocoa farmers, full reimbursement of LBCs, and timely settlement of future cocoa deliveries. They also called for an apology from the government and COCOBOD for the gross dereliction of duty. According to Citi News, farmers have threatened to embark on a nationwide demonstration if the arrears are not cleared.
The delayed payments have had a devastating impact on cocoa-growing communities, with farmers unable to afford basic necessities like healthcare and education. The situation threatens the survival of indigenous cocoa buying companies and transporters, whose capital remains locked up due to delayed reimbursements.
The government and COCOBOD must take urgent action to address the issue and prevent further hardship for cocoa farmers.
Call or WhatsApp +233 20 2190 250 and share your story.
Author: Korkor Anumu
