The Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Randy Abbey, has raised concerns over the use of loans secured for the rehabilitation of cocoa farms affected by diseases.
A loan of $263 million was contracted for the rehabilitation of 156,000 hectares of cocoa farms. However, only 40,000 hectares had been completed at the time he assumed office at COCOBOD.
“If we had successfully done the 156,000 hectares, it would have contributed up to 200,000 tonnes to our production. We took all this money, and all we have to show is just 40,000 hectares completed,” he lamented.
Dr. Abbey made these remarks at a meeting with farmers at Nkawie in the Ashanti Region.
According to the COCOBOD CEO, the decision to undertake rehabilitation was due to the infestation of about 40 per cent of cocoa farms by diseases. The move to rehabilitate the farms was applauded by the new COCOBOD management.
Dr. Randy Abbey further revealed that an additional GHS700 million was invested in the project. He noted that the matter has been referred to the appropriate authorities for investigation.
“There are agencies responsible for investigating these matters. I am saddened by what has happened because it was a golden opportunity to turn things around in the sector,” he said.
To boost cocoa production in the country, COCOBOD is now working to put 21,000 hectares into rehabilitation, with the CEO committed to ensuring the success of the effort.
“We have left some farms in the bush, and that is what I am trying to work on—so we can rehabilitate them and add them to our productive stock,” he added.
According to COCOBOD, the new administration also inherited road contracts worth GHS21 billion, alongside existing debts of GHS4.4 billion.
