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Dr Randy Abbey, Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), has made a startling revelation about the institution’s financial state.
Speaking at a May Day celebration in Nkawie during engagement with Cocoa farmers , in the Atwima Nwabiagya South Municipality, Mr Randy Abbey disclosed that COCOBOD is currently facing significant financial challenges, with empty coffers to facilitate its activities.
Dr Randy Abbey emphasized the crucial role cocoa plays in Ghana’s economy, stating that without the cocoa industry, the country’s economy would suffer significantly. He stressed that cocoa is a vital component of Ghana’s economic framework, generating substantial revenue and employment opportunities for thousands of Ghanaians.
The CEO’s admission of COCOBOD’s financial struggles has raised concerns about the institution’s ability to effectively manage the cocoa industry.
With 1,360 workers under COCOBOD, Randy Abbey acknowledged the need for unity and broader consultation to develop the cocoa industry and address the current financial challenges.
Dr Randy Abbey’s call for unity and consultation highlights the importance of collaborative efforts in finding solutions to the institution’s financial woes. He emphasized the need for stakeholders to work together to develop the cocoa industry and ensure its sustainability.
The financial struggles at COCOBOD have significant implications for Ghana’s economy, given the importance of cocoa as a major foreign exchange earner.
The institution’s financial woes could impact the livelihoods of cocoa farmers, workers, and other stakeholders, underscoring the need for urgent action to address the challenges.
Randy Abbey’s revelation about COCOBOD’s financial state serves as a wake-up call for stakeholders to take immediate action to address the institution’s financial challenges.
With the cocoa industry playing a vital role in Ghana’s economy, it is essential to find sustainable solutions to ensure the industry’s continued growth and development.
Source:Ayisah Foster||Punch newspaper
