Finance Minister Assumes Supervisory Role Over COCOBOD

Spread the love

The Minister of Finance, Dr. Cassiel Ato Forson, has confirmed that he has taken on a supervisory role over the Ghana Cocoa Board (COCOBOD).

Speaking on The Point of View on Channel One TV on Wednesday, March 12, Dr. Forson clarified that while he oversees COCOBOD’s operations, the responsibility for settling its substantial debt lies with the board’s Chief Executive Officer, Randy Abbey.

“I am their supervisor, but that doesn’t mean I should pay their debt. Randy Abbey must find the money and pay, and that is what, unfortunately, the former administration left for him,” he stated.

His remarks follow growing concerns over COCOBOD’s financial difficulties, particularly its staggering GH¢32 billion debt, which has sparked debates about the sustainability of the cocoa sector and the government’s role in supporting the industry.

THIS IS TRENDING:   Enjoyment: Parliament Receives $28m To Purchase Cars For All 275 MPs - DETAILS

COCOBOD, a government agency established in 1947, oversees the production, processing, and marketing of cocoa, shea nuts, and coffee in Ghana. Its primary mandate includes setting producer prices to ensure cocoa farmers receive fair and stable incomes while maintaining Ghana’s reputation for premium-quality cocoa.

Beyond COCOBOD’s financial challenges, Dr. Forson also addressed concerns regarding the government’s employment policy.

Responding to claims that the government has imposed a freeze on civil and public sector employment, he dismissed such allegations as inaccurate.

About Juventus Kantaayel

Check Also

Minority Walks Out of Parliament Ahead of 2025 Mid-Year Budget Review

Spread the love Tensions flared in Parliament on Thursday, July 24, as Members of the …