Dr. Randy Abbey, the Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), has expressed his concerns regarding the loans obtained for the restoration of cocoa farms impacted by diseases.
A total loan of $263 million was secured for the rehabilitation of 156,000 hectares of cocoa farms; however, only 40,000 hectares had been completed by the time he took office at COCOBOD.
He lamented, ‘Had we successfully rehabilitated the 156,000 hectares, it would have added approximately 200,000 tonnes to our production.
We have utilized all this funding, yet only 40,000 hectares have been completed.’ Dr. Abbey made these statements during a meeting with farmers in Nkawie, located in the Ashanti Region.
He explained that the decision to rehabilitate was prompted by the infestation of diseases affecting around 40 percent of cocoa farms, a move that was welcomed by the new management of COCOBOD.
Furthermore, Dr. Abbey disclosed that an additional GHS700 million was allocated to the project and mentioned that the issue has been forwarded to the relevant authorities for investigation.
‘There are agencies tasked with investigating these issues. I am disheartened by the situation as it represented a significant opportunity to improve the sector,’ he remarked.
To enhance cocoa production in the nation, COCOBOD is currently focused on rehabilitating 21,000 hectares, with the CEO dedicated to ensuring the success of this initiative.
‘We have left some farms untended, and I am working to rehabilitate them and incorporate them into our productive capacity,’ he stated.
Additionally, COCOBOD’s new administration has inherited road contracts amounting to GHS21 billion, along with existing debts totaling GHS4.4 billion.
